Tom Petty's Former Encino Retreat Finds a New Owner at $5.4 Million

A house with rock-and-roll pedigree has changed hands in Encino. The property, once home to Tom Petty, sold for $5.4 million, closing at a discount to its original $6.5 million ask. Its most recent owner was Selena Gomez, who had listed the residence before agreeing to the sale. The gap between list and close reflects the kind of negotiation common to well-known addresses with a story attached. For a home tied to one of American music's defining voices, the sale marks another chapter in a residence that has long carried more history than square footage alone would suggest.

With reporting from Elle Decor.