Gilbert Arenas — Drops Millions to Live On the Edge (Of The Valley)

Exclusive 0712_gilbert_arenas_new_home_launchNi-Hao people of Los Angeles … ex-NBA star turned Chinese b-baller Gilbert Arenas just dropped a couple million bucks on a sick new pad in the valley … with killer views (not killer sharks).

Arenas — who left the NBA in 2012 and now plays for the Shanghai Sharks — bought a 5,853-square-foot casa in Encino, CA. He still owns his other home in Virginia as well (i.e. the one with the shark tank).

According to docs, Arenas took out a loan for $1.7 million for the digs. It”s unclear what the final sale price was, but the house was previously listed for $2.5 million … so he probably coughed up a hefty down payment.

As for the crib — despite being in the Valley — it”s pretty sick. Tuscan villa design, 5 bedrooms, 4.5 baths, maids quarters, grill and BBQ … plus the pool and spa sit at the edge of a cliff, creating views to die for.

Also a perfect place to set off some fireworks.