Music history awaits its next owner at Tom Petty’s spectacular Malibu retreat, now available for $15.49 million after a strategic price reduction. The late rocker’s longtime residence offers far more than celebrity pedigree. It’s a meticulously crafted sanctuary where the “Free Fallin'” singer lived and created music for nearly two decades.
Petty purchased the Mediterranean-style compound in 1998 for $3.75 million, transforming it into his primary residence until his passing in 2017. The estate has returned to market after an initial 2024 listing attempt at $19 million, with new agents Myra Nourmand and Levi Freeman of Nourmand & Associates taking a fresh approach to attract serious buyers.
“Every area has either a fountain, a bubbling brook, magnificent and mature trees,” Nourmand told Homes.com. “It’s an emotional sanctuary … And it takes many decades to create that.”
The property sits within a double-gated enclave above Escondido Beach and Paradise Cove, offering the privacy that drew Petty to this particular slice of Malibu. The 8,744-square-foot main residence sprawls across a single story, featuring seven bedrooms and nine bathrooms designed for both intimate family living and grand entertaining.
Interior details show Petty’s appreciation for craftsmanship and character. Dark hardwood floors stretch throughout the home, complemented by hand-painted Spanish tiles, vintage chandeliers, and carved skylights that the musician personally selected. Five fireplaces anchor different living spaces, including a great room where Petty often entertained fellow musicians and friends.
Creative Spaces and Entertainment Areas
The heart of the estate lies in its converted recording studio, originally a two-bedroom guest house that Petty transformed into a pre-wired, acoustically treated creative space. This unique feature sets the property apart from typical celebrity homes, offering future owners a professionally designed environment for music production or other artistic pursuits.
“This house has soul, and it’s indicative of the owner who had it,” Nourmand explained, highlighting how Petty’s personality permeates every corner of the residence.
The main house features a wood-paneled library and a dedicated music room where Petty composed many of his popular songs. The home also includes a formal dining room that can accommodate 16 guests. A gourmet kitchen features skylights and a central island, perfect for the casual entertaining style that defined Petty’s gatherings.
According to Realtor.com, rock royalty, including George Harrison and Jeff Lynne of the Traveling Wilburys, frequently visited the estate, where Petty was known for serving Maxwell House coffee while discussing music and life.
The primary suite offers a romantic retreat with its own fireplace and French doors that open to a fountain-adorned patio. The suite includes a luxurious bathroom featuring a vanity station. A massive walk-in closet and spa-like amenities complete this private sanctuary within the larger compound.
Outdoor Paradise and Practical Amenities
The 2.6-acre grounds showcase California outdoor living at its finest. Manicured gardens, filled with bougainvillea and jasmine, create a natural beauty throughout the property. Koi ponds and waterfalls add tranquil water features that enhance the park-like atmosphere.
A lagoon-style swimming pool and spa serve as the centerpiece of the outdoor entertainment areas. The pool is surrounded by sundeck space and complemented by a built-in fire pit, perfect for evening gatherings. The grounds also feature a sports court suitable for both basketball and pickleball, catering to active lifestyle preferences.
As reported by Realtor.com, the property remained untouched by recent wildfires that affected other parts of Southern California. The fires impacted areas of Malibu and the Pacific Palisades.
Additional structures enhance the property’s versatility and privacy. Beyond the converted recording studio, a separate one-bedroom guest house provides accommodation for visitors or staff. Dedicated staff quarters ensure household operations can run seamlessly. Meanwhile, extensive parking accommodates up to 15 vehicles across multiple garage spaces and motor court areas.
Modern conveniences include solar panels and a backup generator, ensuring the estate can maintain its operations even during power outages. These practical additions reflect thoughtful planning for California living while preserving the property’s timeless character.
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See Inside Tom Petty’s $15.5 Million Malibu Home