The Hidden Hills area is already home to Jennifer Lopez and Marc Anthony; the Kardashians; Ozzy and Sharon Osbourne; and Melissa Etheridge.
Spears's new pad is a Tudor-style mansion with 10 bedrooms, 13 bathrooms, sprawling private gardens, a pool and a tennis court, as well as multiple hot tubs.
The home also includes a game room well-stocked with arcade games and air hockey, which will no doubt be a hit with Spears's sons, Sean Preston, 5, and Jayden James, 4.
The seller of the home is Ron Tutor, a construction/private equity mogul who, as a member of an investor pool that includes Rob Lowe, purchased Miramax Films from the Walt Disney Company for $660 million.
Spears's previous home was located in Beverly Hills, Calif., and was the site of some of the more manic episodes of Spears breakdown lore.