The rapper's the new owner of a massive 7-bed, 8-bath home in the San Fernando Valley, which is described as a car collector's dream estate. It's unclear how many rides Polo's working with, but the nearly 1-acre lot features a whopping 36 parking spaces, including a 14-car garage!!!

So, parking ✅

As for the Mediterranean-style house itself ... it's almost 11,000 sq. ft. with a rotunda entry that leads to a vintage-looking staircase. There's a custom wine closet and bar, formal dining room and a billiard room all on the main level.

The kitchen and bedrooms are enormous and boast all the expected luxuries, and of course ... the outside's incredible too. The pool, spa, BBQ area and lighted tennis court are all surrounded by stone terraces and patios.

We're told Polo G bought the place for $4.885 million. Emil Hartoonian, Bryan Castaneda and Andrew Mortaza of The Agency held the listing ... and Daniel Dill of WEA repped the "Pop Out" rapper.

G's new album, "Hall of Fame," comes out Friday and includes his highly-anticipated collab with Nicki Minaj on "For the Love of New York."