Michael Jackson's Neverland Ranch finally sold for less than 1/4 of its original price after more than 5 years. Look inside the 2,700-acre property that was once asking $100 million.

Welcome to Sycamore Valley Ranch, formerly Neverland Ranch, that once belonged to Michael Jackson.

After years of price cuts, the ranch finally sold to billionaire Ron Burkle in December 2020 for $22 million — a fraction of its original $100 million asking price, the Wall Street Journal reported.

Burkle, who advised the singer on financial matters in the mid-2000s, saw the property as an investment opportunity, per the Journal. While the ranch wasn't publicly listed for months, Burkle reportedly saw the property from the air and called the owner directly to ask if he would sell it.

Jackson purchased the ranch in 1987 for $19.5 million .

The 2,700-acre property was first put up for sale for $100 million in 2015, but it was taken off the market in early 2020 after almost five years of price cuts and renovations, Compass confirmed to Business Insider at the time.

The ranch was last publicly listed for $31 million in 2019 — a nearly 70% discount from its original asking price.

Kyle Forsyth of Compass, one of the former listing agents for the ranch, told Business Insider in February 2020 that the agents representing the ranch had found interested potential buyers. But no deal could be reached with Colony Capital, so the ranch was pulled off the market, Forsyth said.

Colony Capital, the private investment firm that manages the ranch, did not immediately respond to Business Insider's request for comment for this story.

Michael Jackson's Neverland Ranch finally sold for less than 1/4 of its original price after more than 5 years. Look inside the 2,700-acre property that was once asking $100 million.

Welcome to Sycamore Valley Ranch, formerly Neverland Ranch, that once belonged to Michael Jackson.

The 2,700-acre property was first put up for sale for $100 million in 2015, but it was taken off the market in early 2020 after almost five years of price cuts and renovations, Compass confirmed to Business Insider at the time.

The Sycamore Valley Ranch spans 2,700 acres in Los Olivos, California, about 130 miles northeast of Los Angeles.

Under Jackson's ownership, Neverland Ranch was a Peter-Pan inspired fantasyland with an amusement park, exotic animals ...

... and a Disney-themed train station.

But in 1993, Jackson and his home made headlines when child sexual abuse allegations were brought against him.

After he defaulted on a loan, Jackson entered Neverland into an ownership agreement with private investment firm Colony Capital for $23 million in 2008.

Colony Capital spent millions restoring the ranch after Jackson's death in 2009.

Neverland Ranch was rebranded Sycamore Valley Ranch and put on the market for $100 million in 2015.

It was renamed Sycamore Valley Ranch for the rolling hills, majestic sycamore trees, magnificent oaks, and manicured grounds that the Santa Ynez Valley is known for.

There are several possible reasons why Sycamore Valley Ranch had trouble selling.

Village Properties real-estate broker Wayne S. Natale told Bloomberg that it's typical for properties listed for more than $3 million in Santa Ynez Valley to be on the market for two to three years.

The ranch is secured by a gate, and a long, scenic road weaves through the property's grounds.

The property boasts a 12,598-square-foot French-Normandy style residence with five bedrooms and eight bathrooms.

The mansion is crafted with exposed timber beams, brick and stonework, five fireplaces, and 18th-century French oak parquet flooring from two chateaus in France.

Entering through the front doors brings you inside to the spacious main foyer. The door to the right connects to the kitchen.

Large golden chandeliers hang over the lofted main entryway.

Down a few sets of stairs from the foyer is the main living room with two fireplaces.

Walking back through the main foyer under an arched doorway brings you to the newly renovated kitchen.

Though the main house is unoccupied, a full-time staff keeps the kitchen pristine.

Sycamore Valley Ranch has a guest house about 150 feet from the main house.

Walking through the kitchen to the main dining room, you'll find more wall-length windows that offer a view of the backyard.

A hallway lined with windows connects you from the dining room to other rooms on the first floor.

There are eight bathrooms in the main residence. This one features a copper bathtub.

Down the hallway is the first-floor master bedroom where the King of Pop slept. The master includes a private loft and two baths, two walk-in cedar-lined closets, and a private outdoor garden.

A massive walk-in closet connects you to the master bedroom and bathroom. Jackson stored valuables in a "secret room" hidden around the corner in his closet, according to the Associated Press.

The master bathroom sports a sunken bathtub and is surrounded by large windows.

Exiting the master bedroom will bring you back to the hallway. Continue down the hallway back to the foyer and you'll find a staircase.

Moving up the stairs to the second floor, you'll find four bedrooms. Here is an upstairs bedroom with polished oak flooring.

Walking down a hallway will lead you to another bedroom with white carpeting and walls lined with shelves.

Coming back down the stairs to the first floor, you'll see doors across the main entryway that lead out to the ranch grounds.

The property's grounds include two guest houses, a lake, a 50-seat movie theater, a tennis court, a lagoon-style pool, a pool house, barns, and separate staff facilities.

Next to the pool house is a sunken, lighted tennis court with a viewing area.

The grounds of the property are extensively manicured ...

... full of stonework and colorful flower beds.

The property features a four-acre lake with two fountains, swans, boat stops, and a private beach.

Whimsical statues can be seen around the grounds.

A gazebo complete with lighting and a grill offers a space for outdoor entertaining.

Although Sycamore Valley Ranch no longer has exotic animals like elephants, you can still find pigs, lambs, and a llama on the property.

The ranch's large red barn was built originally for Clydesdales.

Neverland Ranch used to include an amusement park. But Colony Capital removed the rides and turned the area into a "zen garden" when it purchased the ranch in 2008.

The owners did decide to keep Jackson's famous Neverland train station during renovations.

Train tracks weave all around the property ...

... along with train stops.

Children and adults both used to ride in the train when Jackson threw parties, like during this holiday celebration in 2004.

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