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Olivia Newton-John‘s Santa Ynez ranch is set to be a new owner’s “Xanadu” … the striking property has officially sold after several months on the market.
Real estate sources tell TMZ … a buyer has decided to be hopelessly devoted to the 4-bedroom, 5-bathroom estate located in Santa Barbara County — one of California’s famed wine regions.
Whoever walked away with the deed certainly got one hell of a deal, as the property was initially listed back in May for a whopping $8.965 million … and it just sold for $7.95M.
The abode is worth every penny, given its luxe amenities … sitting on 12 private acres with nearly 4,500 square feet of living space, a view of the Santa Ynez River, a gourmet kitchen, a 2-bedroom guest house, a pool, a barn, an outdoor kitchen, and a game room.
It’s no wonder rumors circulated back in September that former President Joe Biden had been eyeing the property, as it’s certainly fit for a man of 46’s status.
However, as TMZ learned at the time, JB and First Lady Jill Biden were NOT actually planning to make the “Grease” actress’ former home their post-White House pad … it was all just a rumor.
It’ll be interesting to see who actually scooped up the property … and what, if any, plans they may have for the estate!!!
