The Crash star purchased the lavish mansion for £4.8 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 £4.9 million in 2010.
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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 £3.9 million, according to the Los Angeles Times.