The champagne is on ice for Kanye West ... because he's finally found someone willing to plunk down a fortune for the Malibu estate he completely gutted.

Kanye's place on the beach in the 'Bu went into escrow last Thursday ... according to online records.

Ye's been trying to unload the place for a minute now, and it got to the point in April that he chopped $14 million off the original $53 million price tag from January ... dropping the asking price down to $39 million. We don't know how much the buyer agreed to pay.

Remember ... Kanye totally gutted the place as part of a makeover he never completed ... so this is definitely a fixer-upper.

Heck, the place doesn't even have walls and feels almost uninhabitable ... so a lengthy, and costly, overhaul is in order for this potential new owner ... that is, if escrow actually closes.

Kanye turned to "Selling Sunset" star Jason Oppenheim to find a buyer ... and it seems like he's delivered. Jason's hyped the property as a blank canvas.

Overall, the property is 4,000 square feet with 4 bedrooms, 5 bathrooms, outdoor decks and sweeping views of the Pacific Ocean.