Tom Petty’s former Encino pad has traded hands for the third time in four years, selling for its highest price yet: $4.895 million.
The seller, Grammy-winning producer Randy Spendlove, bought the property two years ago for $4.485 million, The Times previously reported. A year earlier, the nearly one-acre estate sold for $2.575 million.
Clocking in at 11,500 square feet with modern finishes and posh amenities, the house has undergone plenty of changes over the years. A fire destroyed just about everything but the basement recording studio in 1987, and Petty rebuilt the three-story home two years later.
Today, the living spaces are a vibrant mix of wood, stone and glass — especially in the two-story great room, which boasts a floor-to-ceiling fireplace and sweeping staircase under beamed ceilings and a dozen skylights.
Other highlights include a wine cellar, gym, yoga studio, game room, vocal booth, massage room and conversation pit. Six bedrooms and 10 bathrooms complete the floor plan, including an expansive window-lined master suite and a guest bedroom with a loft.
Out back, decks and patios overlook the landscaped property of nearly an acre. Down below, there’s a cabana, bar, fire pit and a swimming pool and spa fed by a waterfall and stream.
Petty, who died in 2017 at 66, sold more than 80 million records during his prolific career as both a solo artist and with his band the Heartbreakers. The Rock and Roll Hall of Fame inductee’s hits include “I Won’t Back Down,” “Free Fallin’” and “American Girl.”
Last September, his scenic retreat on Lake Sherwood sold for $4 million, The Times previously reported.
Jade and Tiffany Mills of Coldwell Banker Residential Brokerage held the listing. Karen Medved of Compass represented the buyer.