We've learned the Pittsburgh rapper closed on a new mansion Wednesday in Encino, CA -- near Tarzana, Calabasas and other rich areas north of L.A. -- and our real estate sources tell us he dropped a cool $3.4 million on the property. Helluva deal, considering how nice this place is.

With four bedrooms suites, the 2-story estate boasts what just about every baller pad might feature -- floating stairs, a theater, a 100-bottle wine bar, floor-to-ceiling glass pocket doors, a waterfall island outside ... and a sick master suite with its own fireplace.

The house is also a smart home, with a built-in alarm and 4 exterior cameras. Can't be too careful these days with all the break-ins in and around town. Good call, Wiz.