The Tom Petty Lake House has an illustrious celebrity owner pedigree

For decades, entertainers such as Ella Fitzgerald, Nat King Cole, and Bing Crosby made their way to Casa Della Madonna when they needed a luxe lakeside getaway. The storied villa sits on the wooded shores of Lake Sherwood, tucked away in southern Ventura County near Thousand Oaks, CA.

The most recent star to own the sumptuous spread was rock icon Tom Petty, who died in October. He was 66. The 1-acre property is now on the market for $$5,495,000, $400,000 less than what it was listed for last August.

The “stunning stone villa” has 125 feet of lakefront and a boat dock, according to listing agent Dana Sparks of Compass, who’s a former actress and once owned the Tom Petty Lake House herself. Sparks is known for starring in TV series like Passions, JAG, Melrose Place, L.A. Law and Falcon Crest.

The villa’s most striking feature might be the walls, which were built of local fieldstone, or Petty’s grand piano sitting silent in the great room. There are also vaulted ceilings with wooden beams and wood and tile flooring throughout.

The home was completed in 1931, and renovations in 2004 added a new master suite with a stone tub

 and a balcony with a fireplace. The house now measures approximately 5,300 square feet and has three bedrooms and three baths. The bedrooms have views of the lake, as does a quaint guesthouse on the property.

Although the home’s rustic setting seems worlds away from the hustle and bustle of Los Angeles, the Tom Petty Lake House is actually situated only about 15 minutes from Malibu. It’s also a quick drive to Sherwood Country Club, Westlake Village, as well as trendy shops and restaurants.

“Only 9 miles from the ocean, this location is blessed with afternoon breezes and is also above the fog zone, ensuring sunshine all summer,” says Sparks.

See more photos and get more details in my Tom Petty Lake House feature on Realtor.com.