Although they divorced in 2007 after seven years of marriage, Reese Witherspoon and Ryan Phillippe shared more than just their two beautiful children – they also still owned a pricey Los Angeles investment property together!
Now, that is no more. They just sold their shared duplex for $1,440,000 on January 17, 2014. Purchased by Reese and Ryan in October 2005 for $1,173,500, the divorced duo held onto the two-unit, remodeled property through the real estate market downturn, and then listed it for $1,395,000 in December 2013. 18 days later, the home went under contract for $1,440,000 – a full $45,000 OVER asking. All in all, Reese and Ryan pocketed a nice $266,500 profit on the sale.
That’s a nice turn of events for both Reese and Ryan, who each lost boatloads of cash on recent home sales. Reese just sold the Ojai, CA ranch where she married her new husband, Jim Toth at a major loss! Purchased by Reese for $5.8 million in 2008, she originally asked $10 million for the ranch, reduced the price multiple times, and finally accepted an offer of $4,983,500 – a loss of $816,500! Think that’s a big loss? Ryan lost an eye-popping $1,175,000 when he sold his Zen-inspired Sunset Strip mansion in March 2013.
Mary Lu Tuthill of Coldwell Banker Brentwood was Reese and Ryan’s listing agent for this deal, and Lisa Mansfield of Sotheby’s International Realty represented the buyer.