Robert Downey Jr. Buys Home in Pacific Palisades

AP Images

The "Iron Man 3" actor pays $2.5 million for a classic ranch in the coastal community.

Pacific Palisades continues to lure the entertainment community with its high-end homes set amid a small-town community vibe. Robert Downey Jr. has just purchased another Los Angeles home, paying $2.5 million for a 1,950-square-foot, four-bedroom ranch-style house that is set behind a picket fence and high hedge, reports real estate website The Real Estalker.

PHOTOS: Homes of the Pacific Palisades

Originally built in 1947, the home includes an open-concept living area with floor-to-ceiling windows overlooking the backyard, as well as a garage that has been converted into a recording studio.

The purchase comes on the heels of other residential real estate acquisitions by the two-time Oscar-nominated actor. In addition to this home, he also purchased a contemporary house in Rustic Canyon for $3.635 million in 2012 and owns a 7-acre-plus compound in Malibu, which he bought in 2009 for $13.4 million. The Iron Man 3 actor also owns several properties in Venice.