Late rock legend Tom Petty’s Encino, CA home has been renovated and is on the market for $4.995 million.
The home has lived through a fire, a foreclosure, awful tenants, and even a SWAT team invasion, which makes the reveal of the totally revamped property even more stunning.
The home was rebuilt in 1989 by Tom Petty after the original structure had burned down in 1987. The family lived there until a messy divorce in 1996, after which Petty’s ex-wife Jane Benyo tried and failed to sell the house, and was forced to declare bankruptcy following the home’s foreclosure. The interim tenants from hell often held parties at the house, and at one point, prompted a SWAT team invasion.
When the developers bought the house from the bank last June, they knew they had their work cut out for them, but they went above and beyond in their delivery. The rustic yet glamorous cabin in the woods was renovated in under a year due to the strong structural integrity of the home. Superficial, cosmetic renovations to this home make a world of difference.
The six bed, ten bath home covers 11,483 square feet, and boasts a media room with sunken seating area, originally used as a private performance area, balconies, decks, wet bar, with a backyard featuring a pool with a serene waterfall and stream. The outdoor entertaining space was expanded and improved upon, now including a covered dining area and an outdoor kitchen with stainless steel appliances.
Developers note that the stone fireplace in the living room and the white bricks on the fireplace in the family room and kitchen are originals which have been left intact and seamlessly integrated into the home’s new “contemporary and current color scheme.” Much of the renovation process had to do with updating paint, treating wood, and finding ways to adjust the color scheme of the home with the goal of brightening it up.
The home is expected to sell fast, as dozens of potential buyers, including celebrities, have shown interest in the property.
Act fast, and don’t miss your chance to own this legendary piece of music history. Check out the listing on CastlesMag.com