Jeremy Renner bought LA mansion for $7m, transformed it and sold for $24m

Some houses are bought for their addresses. Others are bought for what they could become. For actor Jeremy Renner and his longtime business partner Kristoffer Winters, a 1920s mansion in Los Angeles became the latter, a major renovation project that turned a historic Holmby Hills property into an expansive, design-led estate before being sold for $24 million. The property, known as The Reserve, was originally acquired by the pair in 2010 for $7 million. Three years later, their transformation of the estate had resulted in a 10,005-square-foot residence that eventually attracted British luxury property developer Nick Candy, states an online report by the Los Angeles Times. A grand Holmby Hills transformation Set across two acres, the Roaring ’20s Art Deco-style mansion combines period character with the scale and amenities expected of a modern Los Angeles estate. Its approach is marked by gates and a cobblestone driveway, creating a sense of privacy before the house itself comes into view, states the LA Times report. Inside, the residence unfolds across six bedrooms and 11 bathrooms, with five fireplaces adding to its old-world character. A wine cellar and private theater make the home entertaining-friendly, and the spacious interiors accommodate formal and casual living. The grounds continue that resort-like atmosphere, with a swimming pool and spa forming the centrepiece of the outdoor space. Designed to be lived in What makes the property particularly interesting is the attention paid to the experience of moving through it. Rather than treating the renovation as a straightforward restoration, Winters approached the house as a complete design project. Vintage architectural influences are mixed with modern comforts, so that the property retains the ambiance of its era without seeming stuck in time. The result is a home that leans into the glamour traditionally associated with Holmby Hills while giving it a more current interpretation, adds the report. The estate was also sold furnished and essentially move-in ready. The offering included everything from a stocked bar to linens, reinforcing the idea of a house designed as a complete lifestyle rather than an empty architectural shell. A longstanding property passion As per the report, Renner and Winters have spent more than a decade buying and reworking residential properties, gradually developing a reputation for ambitious transformations. The Holmby Hills project represented their most substantial undertaking, with the scale of the estate allowing them to explore architecture, interiors and landscaping on an unusually broad canvas. The project also drew wider attention through an Esquire feature that documented the renovation and offered a glimpse into the process behind the finished home. From $7 million to $24 million The eventual sale marks a striking change in value. Purchased for $7 million, the property was later placed on the market for $24.95 million before selling for $24 million to Nick Candy, a prominent name in luxury property. For Renner and Winters, the deal represents more than another celebrity real-estate transaction. It is the culmination of a hands-on approach to property — buying an older home, rethinking its potential and turning it into something considerably more ambitious In a city where celebrity homes often make headlines for their price tags alone, The Reserve stands out for the story behind the number: a historic mansion, a substantial redesign and a $17 million leap in value. Images Courtesy: Just Shared and Google Maps [Image text:] Google Maps