Jackson first bought the home in 1987 for $19.5 million and lived there for 15 years. He turned the ranch into an entertainment complex, building a zoo and fairground on site, where he regularly entertained children and their families. Zillow, Inc. holds real estate brokerage licenses in multiple states. Jackson named his off-the-wall estate Neverland, after the mythical island from J.M. Jackson, who died from an overdose of the anesthetic Propofol in 2009 at age 50, bought the property in Los Olivos, about 120 miles north of Los Angeles, in 1988 for $19.5 million. The secret mine that hid the Nazis' stolen treasure. (Stephen [+] Kim/WireImage). Beyond the magazine. Colony Capital, the private investment firm that manages the ranch, did not immediately respond to Business Insider's request for comment for this story. Both sell, eventually. The home boasts seven bedrooms, 13 bathrooms, a screening room, wine cellar, guest house and poolall on 1.25 acres of land in a secluded Los Angeles neighborhood. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Video, The secret mine that hid the Nazis' stolen treasure, Michael Jackson's Neverland ranch up for sale, those made in a documentary called Leaving Neverland in 2019, according to a profile by American business magazine Forbes, Trump mistrial request denied in NY rape lawsuit, MasterChef Australia host Jock Zonfrillo dies, Russia launches missile attacks on Ukraine, Explosion derails train in Russian border region, DeSantis-backed board votes to countersue Disney, Father tells how gunman opened fire on Texas home, US rock band Aerosmith announce farewell tour, NFL player's daughter, aged two, drowns in pool, Banana artwork in Seoul museum eaten by visitor. At long last, Michael Jacksons notorious Neverland Ranch found a willing buyer. 2023 BBC. The late King of Pop rented the home for $50,000 a month in 2006 after returning from the Middle East and Ireland and lived there for about a year. The reasons are complex. "Unfortunately now, since there's been a lot of negative press, someone is probably not going to purchase it for that reason Now someone's going to buy it because it's an amazing piece of real estate.". Michael Jackson House Los Angeles (His final home) In December 2008, AEG Live (the concert promoter behind Michaels final tour) leased this Holmby Hills, Los Jackson discovered the property in the early 1980s while visiting ex-Beatle Paul McCartney, who resided there during their Say Say Say video shoot. Michael Jackson House: Inside Neverland & His Final Home Estimated Today Value 14.5M. Zillow Gone Wild Does Dallas A Futuristic North Texas Estate