Can You Buy Neverland Ranch Today? How Much Jackson's Home Dropped in Price after HBO Doc

Michael Jackson was once a beloved pop icon, but his alleged abuse of young boys is once again being unearthed in HBO's Leaving Neverland documentary—a film that debuted at Sundance Film Festival in January. The documentary's name was inspired by his Neverland Valley Ranch in Los Olivos, California. The property has struggled to find a new owner for years.

Neverland Ranch was initially called Zaca Laderas Ranch before Jackson renamed it upon purchasing the property. The name was inspired by the Neverland island in Peter Pan, a fictional character who desired to never grow up. Neverland Ranch was much more than Jackson's place of residence as it also served as a private amusement park. Macaulay Culkin and his siblings were frequent visitors of his home.

The property has since been renamed as Sycamore Valley Ranch. It returned to the market in February with a lowered asking price of $31 million—70 percent less than its original listing price.

In 2015, the property was listed for $100 million. It was later reduced to $67 million after two years. The residence, which is roughly three hours away from Los Angeles, has its own website to promote the listing.

"The home was designed by Robert Altevers for William Bone in a French Normandy-style and meticulously crafted to perfection in 1982," Suzanne Perkins, a Santa Barbara and Montecito real estate agent, wrote in the description of a YouTube video of the property. "The home is nestled between extensively landscaped gardens and a four-acre lake complete with a waterfall, incredible pastoral views to the south and majestic mountain views to the north."

"An expansive covered outdoor barbeque area is perfect for entertaining and is located adjacent to the inviting pool and nearby pool house and tennis court. There are multiple structures on the property including three separate guest homes, a 5,500 sq.ft. movie theater with stage, several barns, animal shelter facilities, corrals, and a maintenance shop," the description concluded.

While the residence holds a negative connotation due to the image painted by Leaving Neverland and investigations like the People v. Jackson trial, Neverland Ranch has undergone a series of renovations. The property's amusement park has been pulled as well.

A big factor that initially contributed to the luxury residence's slow sale is because homes with a higher price-tag weren't selling as well around the time the property was first listed. In 2016, Zillow.com's Brendon DeSimone told Bloomberg: "That market has just really slowed down, and there are only so many billionaires who can afford to buy these homes."