"This is by far one of the best homes in the area and this is a very high priced neighborhood," Entertainment Studios Chairman and CEO Byron Allen said. "This place was built for royalty."
And it was a place where Jackson felt comfortable after Neverland ranch was raided by authorities after he was charged with molestation in 2003.
"His home was very important to him," Allen said, "because he stayed there quite a bit and he entertained, and it was a place that was truly his palace."
Jackson's family continues to visit the Holmby Hills mansion. La Toya and Janet Jackson were seen leaving shortly after midnight today. And Randy Jackson was still there early this morning.
With use of drug and other powerful painkillers swirling around Jackson's death, ABC News has learned that the Drug Enforcement Administration has been asked by police to join the investigation.
Jackson's entire estate will be placed in a trust to be executed by three trusted advisors, the specifics of which may never be made public.
The specifics of how Jackson wanted his estate to be distributed are not included in the 2002 will, but in a separate document overseeing the trust. Jackson mentions his three children by name, but none of the other members of his family are named as beneficiaries.
The will specifies that Rowe has been "intentionally omitted" from receiving anything.
Jackson, 50, who died June 25 of an apparent cardiac arrest in Los Angeles, named John Branca, his attorney, John McLain, a friend and record executive, and Barry Siegel, his accountant, as executors of the Michael Jackson Family Trust.
In 2003 Siegel resigned from his role as trustee, according to a statement issued on behalf of the named trustees.
The documents said Jackson's estate consisted almost entirely of "non-cash, non-liquid assets, including primarily an interest in a catalogue of music royalty rights which is currently being administered by Sony ATV, and the interests of various entities."
Jackson had $567.6 million in assets, including his Neverland Ranch and his share of the Sony/ATV Music Publishing catalog, which includes the rights to songs by the Beatles, according to the AP.
The AP analysis puts a net value on Jackson's 50 percent stake in the Sony/ATV catalog — his most prized asset — at $390.6 million. The 750,000-song catalog also includes music by Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers.
By putting the specifics of how he wanted his estate distributed in a trust rather than in the will itself allowed Jackson's wishes to remain private, lawyers said.
"Celebrities typically establish living trusts to avoid probate, which is a very public process," said Andy Katzenstein, a Los Angeles-based estate lawyer.
"In a trust you, the odds are it will never be made public and we'll never what was in it. The will, on the other hand, has to be made public," Katzenstein said.