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Michael Jackson's Neverland Ranch Sells for $78 Million Less Than Asking Price

Shreya Chari | January 22, 2021 | Home & Real Estate

Sycamore Valley Ranch exterior

Michael Jackson’s 2,700-acre Neverland Ranch sold for $22 million after spending five years on the market. It's a far cry from the original asking price of $100 million, but there's never really been quite such an infamous plot of land in all of American pop culture.

The King of Pop bought the sprawling estate in Los Olivos, Ca., in 1988 and lived there until his death. According to a report by Top Ten Real Estate Deals, he first discovered the plot of land in the early '80s during a visit to Paul McCartney who vacationed in the area.

Soon after buying the lot, Jackson designed a gigantic estate to his liking, most noticeably turning the land into a personal amusement park. It's understood that Jackson meant to capture the carefree childhood the life-long touring musician never had. The 12,000-square-foot house contained carnival rides, an electric train ride and zoo animals.

See also: Ryan Seacrest's Beverly Hills House on Sale for $85 Million

The surreal nature of the homestead came under fire when Jackson was accused of child molestation in the early '90s and again in the early 2000s, and the home was stripped of all Jackson-era specifics after his death in 2009. It was given its original name, Sycamore Valley Ranch, and put on the market for $100 million in 2015. Billionaire Ron Burkle, a former associate of Jackson, just bought the property at the highly-discounted price.

In addition to the main house, the ranch consists of a four-bedroom guest house, a two-bedroom guest house, various barns, animal shelters and a maintenance shop. The French-Normandy style of the home includes a formal living room, dining room, chef’s kitchen, six bedrooms (including a two-story master), two large baths and multiple walk-in closets (equipped with a safe room).

The grounds are beautifully kept, complete with a swimming pool, fountain, wide barbecue area, basketball and tennis courts, and a movie theater to boot. New owner Burkle has a history of buying notable properties, including Bob Hope’s spaceship-looking home in Palm Springs and Frank Lloyd Wright’s Mayan-Revival Ennis House in Los Angeles.

Read more about the sale of the iconic ranch via Top Ten Real Estate Deals and check out some photos below.

Sycamore valley ranch exterior front

Sycamore Valley

Sycamore valley ranch lake

Sycamore valley ranch gazebo

Photography by: Suzanne Perkins