The famous property is located about 30 miles from Santa Barbara in the inland town of Los Olivos. The realtors, Harry Kolb of Sotheby’s International and Jeffry Hyland of Hilton & Hyland, are listing the place under its new name, Sycamore Valley Ranch.
It’s got plenty of room for moonwalking, sprawling across 2,700 acres with 22 structures, including the main house, at 12,000 square feet with six bathrooms.
The zoo is no longer there. The elephants, the giraffe, the orangutans and Jackson’s chimp Bubbles are all gone.The dancer-composer behind “Thriller” and “Billie Jean” died from a drug overdose in 2009. At the time, he was preparing for a comeback, a series of concerts in London called “This is It,” to get his dismal finances back in order. Jackson may have been worth as much as $750 million at the height of his success, but his lavish lifestyle put him hundreds of millions of dollars into debt.
Jackson reportedly paid $28 million for the ranch back in 1988, and maintaining the place had a burn rate of $240,000 a month — a fraction of Jackson’s $1.2 million in monthly expenses.
We’re wishing that someone in the family will purchase the property! This was Michael’s first home, and it would be a shame to see it owned by the wrong person. Wishful thinking, and fingers are crossed on this one!Read More →