Michael Jackson's estate has reportedly paid $10.75 million for the home in Calabasas, Calif., where the King of Pop's mother Katharine Jackson lives with Jackson's three children - Prince, Paris and Blanket.
The Wall Street Journal broke the news of the sale noting that Hilton & Hyland represented the estate in the transaction. The seller wasn't identified.
Katharine has been renting the place since 2011. At that time, the Real Estalker reported that she was paying $26,000 to lease the large mansion. She and the kids moved into an Encino, Los Angeles, mansion soon after Jackson's death in 2009 but moved to the Calabasas pad after a few years.
The brokers told the Journal that the rent had increased over the years. The sale closed Monday and it wasn't being offered for sale when the deal happened. The brokers also added that the Jacksons wanted to buy the home for a very long time.
The residence is a huge 12,670-square-feet single-family mansion, sitting on a private and secure compound. A driveway leads up to the large residence that has seven bedrooms and ten bathrooms.
The multi-winged palace boasts of a grand marble gallery that has a pair of marble staircases leading up to the upper level. The main floor has a living room with a fireplace, a large family room, a modern kitchen with granite counter-tops and a breakfast bar. The house has a theater, a study and a Jacuzzi as well.
Outside, the home has a putting green, a pool with a attached spa and waterfall features and ample parking area as well.
Check out the photos in a video below:
When Michael Jackson passed away, he appointed Katharine the guardian of his three children. He also left all his fortunes for his kids. The Michael Jackson estate bestows $8 million in annual allowance to the children, which they spend taking exotic vacations and on other exorbitant stuff, reports New Pittsburgh Courier.
See all Michael Jackson coverage here.
