Tom Petty’s Home Is On The Market For $5M

Are you runnin’ down a dream house? While your bank account gently weeps, you can snatch up musician Tom Petty‘s former Encino, California, mansion for just shy of $5 million.

The gorgeous 6-bed, 10-bath, 11,000-square-foot home located about an hour west of Los Angeles is on the market for $4.995 million.

The three-story home sits on a woodsy, 38,000-square-foot lot in the exclusive “Rancho Estates” neighborhood, at the top of a long, gated driveway.

However, the former Petty residence is not the original house Tom and his family lived in at 4626 Encino Ave. The current home was built after the previous house burned down in a 1987 fire.

Petty, his first wife, one of his daughters and housekeeper were at home when an arsonist lit an outside wooden staircase on fire. Everything inside but Petty’s basement recording studio burnt down, and damages reached almost $1 million.

The Petty family eventually rebuilt their home in 1989 on the same site, and the Petty classic “I Won’t Back Down” was written in response to the arson.

The new mansion had hidden passageways and a swimming pool with waterfall.

Petty has not actually lived in the new home for some time, however. He and his first wife, Jane Benyo, divorced in 1996 after 22 years of marriage, and she got the house.

Benyo eventually fell behind on home payments and tried to sell the mansion, but it ultimately went into foreclosure. Before the bank could repossess the home, an off-the-wall renter who had wild parties in the home had to be evicted by a SWAT team (yes, a SWAT team).

But before you say “Don’t do me like that” about owning a mansion with such questionable prior occupancy, know that the home, which had been flirting with time, has been completely renovated to update its late-1980s decor.

It now looks, well, stunning.

A real estate investing team eventually bought the home for $2.575 million. They wanted to make it better with the best of everything.

According to the listing site “finishes have been updated to reflect current styles and colors-herringbone tile, Carrara marble, and exquisite fixtures.”

Redwood has been stained to a driftwood color.

You certainly won’t be living like a refugee in the master suite with high ceilings, a fireplace, ample storage and a sitting room.

This luxurious bath has a family-size walk-in shower and a tub.

We love this media room with sunken seating.

There’s also a nine-car garage, a covered outdoor kitchen and eating area, wine cellar and a poolhouse/guest quarters.

And the home has beautiful canyon views to top it all off!

Potential buyers can contact The Agency’s Craig Knizek and Ninkey Dalton about owning Petty’s former walls.