Tom Petty’s former home in Encino—the mansion that was rebuilt by Petty after an arsonist’s attack way back in 1987—went onto the open market last fall. The property was a foreclosure in 2015, and sold in 2017 for $2.6 million; its new owner sold it for $4.5 million in 2018. In October of 2019, the property was back, asking $5 million.

Late last month, Selena Gomez stepped up with $4.9 million to take ownership of the sprawling house. Ms. Gomez has owned homes in both Studio City and Hidden Hills in the past decade. Her new house is substantial, though, and whether the young singer is putting down roots in the area or simply investing in Encino—a hot market right now—the home represents a sizeable acquisition.

The roughly 10,000-square-footer is nestled in a tree-dotted neighborhood. Its architecture is eccentrically Californian; its three levels feature abundant outdoor living areas, and its design mixes private and common areas beautifully. Stone, red brick, clapboard, glass and extravagant curves distinguish the exteriors. Inside, a heavily customized layout yields a series of highly individual bedrooms, common areas with very high ceilings, and a large kitchen suited for catering.

The exterior living areas are astonishingly realized, with an exterior staircase climbing to a large upper-floor terrace, a pool and spa with waterfall, a cabana with bar, a fire feature, and plentiful lounging and dining space in just under an acre of grounds.

Gomez has released three studio albums. All three have reached the number one spot in U.S charts.