Why Hasn't Tom Petty's Old Mansion Sold Yet?

ENCINO, CA — Could buyers be spooked by the storied history of legendary rocker Tom Petty's longtime home? How else do you explain why the stunning home has sat on the market for nearly 80 days?

Let's look at the facts:

Rebuilt in 1989 after a fire destroyed the home, it sits atop a private, sprawling acre, with a long, gated driveway at the end of a secluded lane. A line of trees canopy the drive leading to the 6-bedroom, 11,483-square-foot home boasting driftwood beams, soaring high ceilings and windows exposing gorgeous canyon views. It features an outdoor kitchen, a spa, and a three-bathroom pool house and cabana. A gym now sits where Petty's recording studio used to be. The house has been stunningly renovated. So what gives?

The storied house has a history as colorful as any LA rocker. It has seen its share of highs and lows, namely "a fire, divorce, bankruptcy, foreclosure, tenants from hell, and a SWAT team invasion," according to Realtor.com. But's a gorgeous home, and someone is likely to free fall for it.

Address: 4626 Encino Ave, Encino, California

• Price: $4,995,000
• Square Feet: 11483
• Bedrooms: 6
• Bathrooms: 10 Baths
• Built: 1989
• Features: Supremely private on almost an acre, at the end of a secluded lane, a discrete gate opens up to a long driveway lined with a canopy of trees leading to music icon Tom Petty's former 11,500 square foot residence. Stunning architectural driftwood beams line the soaring high ceilings with windows exposing gorgeous canyon views from every angle. The outdoor kitchen off the pool and spa is adjacent to the pool house, which includes full living quarters, three bathrooms, a cabana, a secondary indoor kitchen, wine storage and gym was Petty's original recording studio. Updated with stunning finishes and every amenity a discerning buyer could dream of including a rock waterfall and creek. This home is a breathtaking must see.

This listing originally appeared on realtor.com. For more information and photos, click here.