Ryan Reynolds is selling the Los Angeles home he once shared with ex-wife Scarlett Johansson for $1.59 million.

The 'R.I.P.D.' actor bought the two-bedroom pad in the Hollywood Hills in 2007 - a year before marrying the 'Avengers Assemble' beauty - and is set to unload the property at a loss, asking for $116,000 less than he paid for it.

The 1,789-square-foot home boasts two-and-a-half bathrooms, a private entrance through a gated courtyard, hardwood floors, solar heating, a patio for entertaining guests and private walkways.

The prime location also comes with many famous neighbours including Salma Hayek, Charlize Theron and Jason Statham.

Ryan - who married 'Gossip Girl' actress Blake Lively last year following his divorce from Scarlett in 2011 - has seemingly had trouble selling the cosy home the couple once shared, as this marks his third attempt at putting it on the market.

The 36-year-old hunk initially listed the pad for $1.9 million in 2009, and again re-listed it in 2011 for $1.69 million.

The 'Green Lantern' star and Scarlett, 28, sold their primary marital home in Los Feliz, California, for $3.5 million in February 2012 - several months after finalising their divorce.

Ryan and second wife Blake, 25, have since abandoned the sunny West Coast for a $2 million mansion in Bedford, New York.