Michael Jackson’s Neverland Ranch is up for sale for $100 million, Wall Street Journal reports.
Though it is on the market, many of the amenities are gone. The zoo is no more but there is one lone llama on the property. The amusement park rides are gone but a train station, a 50-seat movie theater and the Neverland Valley Fire Department are still there but it isn’t staffed.
The ranch is 2,700-acre property has two lakes, a basketball court, tennis court,a swimming pool with a cabana, six bedrooms, and two guest houses, one with four bedrooms and the other with two.
The King of Pop bought Neverland, which is 40 miles from Santa Barbara, in 1987 for $19.5 million but defaulted on a $24.5 million loan he owed in 2008. He ended up being bought out by Colony Capital LLC, who invested into the ranch, spending millions on upgrades. Neverland’s name was also changed to Sycamore Valley Ranch, which was its original name when it was built in 1981.
Buyers will be going through “extensive pre-qualification” before the property will be shown.
“Our seller is not encouraging a lot of showings,” said Jeffrey Hyland of Hilton & Hyland. “We’re not going to be giving tours,” added Suzanne Perkins of Sotheby’s International Realty.
