Tom Petty's Former Encino Home Lists for $5 Million

Courtesy Photo; Alberto E. Rodriguez/Getty Images

Petty called the house on Encino Way his home for more than two decades.

When renovating the former home of a rock legend like Tom Petty, one is likely to encounter some peculiar amenities. The house on Encino Way, which Petty called home for more than two decades and which is now back on the market for $5 million, did not disappoint.

"There is still a secret ladder that connected the costume room to the master suite," says Jenna Mattison, who recently completed an 11-month overhaul of the 11,483-square-foot home. The exact reason for the ladder is unknown, but rumor has it that Fleetwood Mac's Stevie Nicks would hole up in the costume area for brief stints.

"Every inch of that house had to be reinvented and redesigned. It wasn't a disaster in that it was dilapidated, but it was definitely rock star bizarre," says Mattison, a film director who has a side hustle flipping homes. Mattison, along with her partner Donald Woolhouse, purchased the home out of foreclosure last year for $2.6 million and when they first walked in were struck by the leopard skin carpets and neon-blue tiling. "You definitely knew someone very eccentric had lived there."

It's impossible to tell from the staging photos, but the six-bedroom, 10-bathroom home that includes a special guest quarters survived everything from an arson attack, a foreclosure and a SWAT team invasion. And those are just the things that we know about.

Early one morning in 1987, Petty and his family were eating breakfast when an arsonist lit the wooden staircase on fire. Almost everything burned down except for the basement recording studio. The house was promptly rebuilt in a style that resembled a mountain cabin.

Petty's first wife, Jane Benyo, acquired the home in their 1996 divorce settlement. JPMorgan Chase would later foreclose on the home, but before it did, the property was reportedly rented out to a party planner who held a series of raucous parties there, which drew the ire of local neighbors. When the bank took possession of the home, a SWAT team was required to evict the tenant, who had refused to leave the premises and threatened the authorities.

The home sits on an enormous 38,000-square-foot lot and has a swimming pool and waterfall along with ample outdoor space and a nine-car garage.

"It's a really unique home, and you have to be a bit of a genius to get it," says Mattison. "It won't be for the average family with a Volvo in the garage. The person buying this house is probably going to be a creative type."

The home is being listed by The Agency's Craig Knizek and Ninkey Dalton, and for the those curious about a little slice of L.A. rock and roll history, the open house starts on Saturday.

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