08/19/2013 06:11 pm ET Updated Aug 20, 2013

Jeremy Renner Buys $7 Million House And Flips It For $24 Million


When he's not filming America's latest blockbuster movie or gracing the red carpet at a Hollywood event, it's safe to assume that actor Jeremy Renner is busy scouting his next project: a new house flip.

You read right. The star of "The Bourne Legacy," "The Avengers" and "Mission Impossible - Ghost Protocol" runs a lucrative side business buying homes on the cheap and flipping them. But it's not just any old flip; he and business partner (and fellow actor) Kristoffer Winters are steadily making a name for themselves as major players in the luxury real estate market.

Their latest, an art deco-style mansion in the exclusive Holmby Hills neighborhood, just sold to Christian Candy, a property developer and founder of CPC Group, according to a CPC Group spokeswoman. Candy, along with his brother Nick Candy, also founded Candy & Candy, a luxury interior design company, in 1999.

Renner and Winters bought the property in 2010 for $7 million. The pair developed the mansion from the ground up; the only things they carried over from the original home were a pair of brick fireplaces, Renner told Esquire Magazine last August.

After years of renovations, Renner and Winters dubbed the property "The Reserve" and put it on the market in January for $24.95 million. It now has six bedrooms, 11 bathrooms, a theater and 10,000 square feet of living space. Outdoors, there's a pool, spa and cobblestone driveway. The official listing, represented by listing agents Rayni Romito and Branden Williams of Hilton & Hyland, dubbed the mansion a "roaring 20's Art Deco" fit for a "21st century Howard Hughes."

In an interview with David Letterman last January, Renner said he and Winters have flipped 20 homes in the past decade.

Photos courtesy of

Jeremy Renner's Huge Flip Job

This post has been updated to include a statement from a CPC Group spokeswoman, which corrects a report from the Los Angeles Times that Nick Candy purchased the home.