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 transformationSet 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.