Tom Petty's Malibu Home Sells for $11 Million

The late Tom Petty's Malibu estate just sold for $11.2 million ... TMZ has learned.

The buyer snagged the property at a considerable discount. The estate hit the market over the summer at $15.49 million after it was previously listed for $19 million with another brokerage in 2024.

While the price may have been marked down, it still yields a considerable profit from the $3.75 million Petty initially bought it for in 1998.

The 2.6-acre Mediterranean-style retreat boasts 7 bedrooms and 10 bathrooms over 8,744 square feet. Whoever moves in will get a chance to own a piece of music history ... as the property comes with Petty's music studio, which he converted from a 2-bedroom guest house.

Outside, residents can swim in the pool, sit by the fire pit or sharpen their pickleball skills on the "sport court."

Built in 1943, the sprawling single-story home served as Petty's main residence until his untimely death from an accidental overdose in 2017. He was 66.