Ryan Tedder, founder of the popular rock band 'One Republic' has reportedly purchased a residence in Venice, California, for $2.8 million, according to several news reports.

Tedder and his wife, Genevieve apparently negotiated on the price, reports TMZ. The residence was listed for something more than the asking price but the couple got it on a discount. The exact amount of discount, however, remains uncertain.

The Real Estalker reports that the residence is a 3551 square feet, double-story, single family residence comprising of five bedrooms and five full and two half baths. Although the home is not a water-front residence, it is just minutes away from the beach.

Interiors of the residence feature open, contemporary living spaces with wood-beamed box-like ceilings in the living area. With hardwood and tiled flooring, the home has floor-to-ceiling glass slider doors and windows. An open floor plan provides for easy inside-outside flow. There is an open porch and a backyard and a spacious roof-top terrace too.

Check out the photos of the residence, here.

Tedder and his wife also own another property in Denver. The couple keep moving to and fro California and Colorado.

Tedder has currently been tapped in by the fifth season of music reality show 'The Voice'. He will be joining in as the show's 'First Ever In-House' songwriter and producer, reports The Hollywood Reporter. He will apparently be writing a song each for the three finalists for the grand finale slated for Dec.17, which will be happening in Los Angeles.

Paul Telegdy, president of Alternative and Late Night Programming at NBC Entertainment told the publication, "Tedder will be invaluable in both his work with our artists and in creating a song that will capture the essence of our show."

Tedder has already started working on the songs with the mentors. Galaxie Magazine tweeted a picture of Tedder with mentor Adam Levine.