A stunning Malibu, Calif., property that music legend Joni Mitchell once called home has hit the market for $27 million.

Located on Malibu Colony Beach, the 4,000-square-foot home previously belonged to Mitchell, 82, and is currently being sold by a former Walt Disney Company board director who purchased it from the Blue singer, according to a press release from Coldwell Banker Realty.

The property boasts five bedrooms and five bathrooms, as well as direct beach access and serene views of the Pacific Ocean.

Joyce Rey and Nanette Iggulden of Coldwell Banker Realty, Beverly Hills, currently hold the listing alongside Jody Katz and Leona Katz of Estates and Trusts Realty.

In a statement shared with PEOPLE, Rey highlighted the "grandfathered pool and spa" that are just steps away from the beach as some of the property's most "exceptional" amenities, noting that both features would be "extraordinarily difficult to recreate under today's coastal regulations."

Inside the abode, the great room flows directly into the dining area and kitchen, with extensive glass walls offering spectacular views of the ocean from each space.

The primary suite also features oceanfront views, with direct access to a balcony overlooking the water.

Outside, the peaceful waterscape can even be enjoyed from the spa-like pool thanks to the all-glass railing, while multiple seating areas make it the perfect place to entertain or enjoy a meal outdoors.

The property also boasts a detached guest house, as well as additional guest bedrooms and a flexible office space in the primary residence.

The listing comes after Mitchell shared a rare update on her health struggles earlier this year, in which she opened up about finding a silver lining after suffering an aneurysm in 2015 that forced her to re-learn how to walk, talk and play guitar.

The star reflected on the scary ordeal during the 2026 Juno Awards, where she received a Lifetime Achievement Award back in March.

"I'm so glad to be back in Canada," said Mitchell, who grew up in Saskatoon. "Some years ago - 10 or 12 years ago, I forget how long ago - I had an aneurysm, which changed my life, oddly, for the better."

She told the crowd that she went into a coma, which helped her quit smoking, and also explained how her medical support staff has enriched her life.

"My home's filled up with the most wonderful nurses. I was on the road with men for years and years and years, now I live with a house full of women, and I have a fantastic therapist [who] goes everywhere with me," she said at the time. "So my life has changed for the better out of a catastrophe, like a phoenix who grows a better life."