The 2,800-acre ranch in Santa Ynez, California, hasn't been occupied since Jackson moved out in 2005. Private investment firm Colony Capital bought it in 2008 for $23.5 million and, after a restoration, plans to seek a buyer in the near future, Bloomberg reports.
Jackson bought the ranch in 1988. It features 22 buildings, including apartments and a movie theater. During his time there, the singer also installed a private railway and fairground (which has since been turned into a "zen garden").
Real estate experts say Neverland could fetch up to $50 million. An AP photographer visited the property in 2009.
Welcome to Neverland Ranch, the famed 2,800-acre property that once belonged to the late Michael Jackson.
Carolyn Kaster/Associated Press
Passing through the gates into the driveway, visitors will see a bronze statue of children playing in front of the main house.
AP Images
Here is a full view of the front of the Tudor-style mansion.
AP Images
The spacious, restored main room.
Carolyn Kaster/Associated Press
The main home has an oversized kitchen.
AP Images
Here is the master bedroom, where the King of Pop slept.
AP Images
And his master bathroom.
AP Images
And as you can imagine, the grounds are extensive and heavily manicured. Here is one of the lakes, with fountains in the center.
AP Images
There are many bronze statues of children throughout the grounds.
AP Images
Of course, it has a pool. The ice cream cart in the front was given to Jackson by close friend Elizabeth Taylor.
AP Images
The pool house has several floors. When Jackson lived there, it was full of arcade games, according to the AP.
AP Images
Adding to the whimsical nature of the estate is the custom-built train station on the grounds.
AP Images
Here is the view from the back, where you can see the tracks going through.
AP Images
Children and adults were photographed using the train in 2004 when Jackson threw a holiday celebration.
AP Images
His guests also visited the famous fairground. Colony Capital turned the area into a "zen garden" when it purchased the ranch in 2008.
AP Images
The estate has been painstakingly restored since the singer moved in 2005.
AP Images
It is expected to sell for as much as $50 million.
