A Jeremy Renner property story is circulating again this week, so start with the date: the sale it describes closed in 2013. Renner and his longtime renovation partner, actor and designer Kristoffer Winters, bought an Art Deco-style Holmby Hills mansion called The Reserve for $7 million in 2010, rebuilt it with architect Phillip Vertoch, and sold it three years later for $24 million. What is circulating now is a 13-year-old deal getting a second lap online.
It is still a useful deal to look at, because it was the high point of a side career Renner has run alongside acting for more than two decades. In a 2016 interview he said he and Winters had bought, renovated and resold more than two dozen Southern California homes since the early 2000s. His summary of the method was blunt: “You never want to set the record for price per square footage in your neighborhood.”
What the money bought
Holmby Hills sits on the Westside of Los Angeles and, with Bel Air and Beverly Hills, forms what is known as the Platinum Triangle of Los Angeles. Its zoning allows lots of up to 4 acres, and neighbors over the decades have included the Playboy Mansion and the Spelling family’s Manor.
When the finished house was listed in early 2013, the marketing described 10,005 square feet of living space on close to two acres of tropical grounds with a pool and spa. Inside were six bedrooms, 11 bathrooms, five fireplaces and a red media room, with Winters credited for the design. The asking price was $24.95 million. The buyer was Christian Candy, brother of the British property developer Nick Candy, who paid $24 million.
The timing matters for Renner’s résumé. He bought the house in the year he earned his second Academy Award nomination, for The Town, after a first nomination for The Hurt Locker. By the time it sold he had played Hawkeye in The Avengers (2012) and led The Bourne Legacy. The flip ran in parallel with the busiest stretch of his film career.
Running the numbers
Here is the arithmetic on the published figures, with the caveat that the renovation budget, agent commissions, taxes and carrying costs were never disclosed, so none of this is profit.
- Gross spread: $24 million minus $7 million is $17 million, or a 243% rise on the purchase price (17 ÷ 7 = 2.43).
- Annual pace: growing $7 million into $24 million over three years works out to roughly 51% a year compounded, since 3.43 to the power of one-third is about 1.51.
- Price per square foot: $24 million across 10,005 square feet comes to about $2,399 per square foot of finished space.
- Against the asking price: the sale landed $950,000, or about 3.8%, below the $24.95 million list price.
Set beside the pair’s other known projects, The Reserve is an outlier. Renner said their first house, a midcentury-modern place in Nichols Canyon bought in 2002 for about $640,000, resold a few months later for around $900,000, a gain of roughly 41% before costs. He also said most of their homes had sold for $3 million to $5 million. A 1921 Runyon Canyon home once owned by writer-director Preston Sturges, bought in 2009 for $1.35 million, was listed in 2015 at $4.795 million; that is an asking price, and the final sale figure is not part of the record used here.
The house he kept, then sold
The closest recent comparison is a property Renner did not build to flip. He bought a midcentury-modern home in Nichols Canyon for $4 million in 2012 and reportedly put nearly $5.5 million into renovating it, then sold it in October 2024 for $12.4 million, according to property records, after listing it at $12.9 million. On a combined outlay of about $9.5 million, that is a gain of around $2.9 million, or 31%, spread over 12 years, before costs. He had lived there through his recovery from the January 2023 snowplow accident and now makes his main home in Washoe County, Nevada.
In that 2016 interview, Renner tied the price of a house like The Reserve to the finish it demands: “If you’re spending $24 million on a home, you don’t want to fill it with lamps from Home Depot.”
Further reading
Image: Gage Skidmore, CC BY-SA 2.0 via Wikimedia Commons
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