That was sensible! Reese Witherspoon and ex Ryan Phillippe wait seven years to unload Los Angeles duplex at a $266k profit

They may have divorced seven years ago, but Reese Witherspoon and Ryan Phillippe still share two children and, up until recently, an investment property.
It seems the exes stalled in selling the Los Angeles two-unit duplex after the real estate market took a nosedive in the late 2000s.
Now Reese, 37, and Ryan, 39, have reportedly sold the property on January 17 for a tidy $1,440,000 and only after a month on the market, according to Trulia.

Sold: Reese Witherspoon and her ex-husband Ryan Phillippe have finally sold a Los Angeles duplex they bought eight years ago as an investment for a cool $1.44 million

Reese and Ryan bought the duplex in October 2005 for $1,173,500, and they listed it for $1,395,000 in December 2013.

No doubt the former Mr and Mrs Phillippe must have been thrilled when they were able to sell it for $45,000 over asking price.
What it all boils down to is that together they pocketed a cool $266,500 profit  - that's $133,250 each.

Smart move: The couple, pictured in 2006, divorced seven years ago but held onto the duplex until the real estate market improved

That should spell some relief for Reese, who took a financial hit when she sold her rustic Ojai, California retreat late last year.
Reese first purchased the sprawling property in 2008 for $5.8 million - she also wed her second husband, CAA agent Jim Toth there in 2011 - and tried to turn around and sell it for $10 million.
When she got no takers, Reese was forced to reduce the price of the ranch a few times and finally accepted a bid of $4,983,500, losing $816,500 on the deal.

What a load off: Reese, who stylish ran errands in Beverly Hills on Thursday, pocketed $133,250 on the recent deal

Ryan actually fared worse when he sold his Zen palace above LA's famed Sunset Strip last March - at a staggering loss of $1,175,000.  
Reese was certainly in a chipper mood on Thursday when she was seen running errands in Beverly Hills.
The actress, who had enjoyed a morning yoga session with new BFF Naomi Watts and husband Jim, was prim and properly attired here in a black fedora hat, loosely fitting black jumper, brightly flowered skirt, black tights and black ankle boots.

Ties that bind: Ryan, pictured in New York City on Sunday, still shares two children with Reese, daughter Ava, 14, and son Deacon, 10

Reese will next be seen in the true to life adventure Wild, about a woman who embarks on a perilous 1,100-mile solo hike after a series of personal traumas.
Meanwhile Ryan, who has been dating student Paulina Slagter since December 2011, was spotted on a solo New York City stroll on Sunday looking happy and casual in jeans, white T-shirt, blue jacket and black baseball cap.
Now comes word that Ryan will be filming a new series pilot for ABC called Secrets & Lies, which follows a family man who becomes the main suspect after he finds a murdered young boy, Deadline.com is reporting.

DM