Ellen DeGeneres just expanded her real estate portfolio … scooping up a home in Beverly Hills.

Our real estate sources tell us Ellen dropped a cool $8.5 million for the 5-bedroom, 4-bathroom home.

The place is 4,614 square feet and it looks like a fixer-upper.  Real talk … the home looks dated. It was built way back in 1961 and has been through at least one renovation.

Ellen closed escrow on the place Friday. It’s got a pool, fire pit, chef’s kitchen and lush gardens. Some of the rooms are even heated by furnaces.

She’ll have some famous neighbours … among them, Adele and Cameron Diaz.

It’s the second home purchase in as many months for Ellen … as we reported; she threw down $2.9 million back in June for a 2-bedroom pad in Santa Barbara.

Ellen’s pretty familiar with Bev Hills real estate … she recently sold a 2-story monster of a property she bought from Adam Levine.

Celeb realtor Kurt Rappaport held the listing on Ellen’s latest purchase.