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Ryan Phillippe takes a hit on property sale

Actor Ryan Phillippe has finally sold his Los Angeles property three years after putting it on the market, taking a loss of $1.5 million in the process.

The Crash star purchased the lavish mansion for $7.2 million in 2008 following his divorce from Reese Witherspoon, but failed to attract interest from buyers when he listed the Hollywood Hills property for sale at $7.5 million in 2010.

The five-bedroom home in a secure, gated community boasts an acre of grounds and includes a swimming pool with underwater speakers, a spa and an outdoor kitchen.

Phillippe has now finally managed to unload the property, which he used to share with ex-girlfriend Abbie Cornish, for $6 million , according to the Los Angeles Times.

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