Real estate sources tell TMZ ... Ye just closed on the sale of his controversial oceanfront estate for $21 million.

Kanye infamously stripped the property down to its bare bones after initially scooping up the Tadao Ando-designed home in 2021 for $57.3 million.

Yeezy reportedly wanted to transform the home into a bomb shelter, then seemingly got sick of the project and bailed ... listing the property for $53 million.

Kanye couldn't sell the place, though, so Ye and his realtor, "Selling Sunset" star Jason Oppenheim, chopped $14 million off the OG asking price.

After another price drop, Kanye finally sold the place to Belwood Investments, a "real estate crowdfunding firm" based in California.

Belwood's CEO, Bo Belmont, is already sharing his new vision for the mansion ... he says the company is going to pour in another $5 million in renovations to try and restore Tadao's vision.