Tom Petty's Lake House Up for Sale at $5.5 Million

Tom Petty's oasis for over a decade can be yours ... at a bargain price.

The late singer's crib in Lake Sherwood -- a ritzy area near the famed Sherwood Country Club in Thousand Oaks, CA -- hit the market for $5.495 million. The 5,300 square foot pad has 3 bedrooms and 3 bathrooms but one of the best features is 125 feet of lake frontage on a private cul-de-sac.

It's built for a rock star -- the walls are 2 feet thick!!! And talk about location, location, location -- the house is 3 minutes from the country club and just 9 miles from the Malibu coast.

Tom bought the crib back in 2007 and put it on the market just a few months before his shocking death back in October. It was initially listed for $5.895 million but was listed just days ago with a discount.