Chris Paul Lists Calabasas Mansion for $11.5 Million

Good news, Houston Rockets fans -- you may have lost Game 7 of the Western Conference Finals, but all early signs point to your star PG Chris Paul returning next season ... including the fact he's selling his L.A.-area home.

CP3, who's set to be a free agent next season, put his Calabasas property on the market just months after buying a massive mega-mansion in Texas about 30 miles from where the Rockets play ... and he's asking for a cool $11.5 million.

The Calabasas pad -- which Paul bought in 2015 for nearly $9 mil -- is more than 11,000 sq. ft. with 6 beds and 8 baths ... featuring a master bedroom with a private courtyard, a chef's kitchen with a pizza oven, a refrigerated wine closet and a home theater.

The ballin' grounds boast a pool & spa, fountain, waterfall, fire pit, BBQ island ... and a full-size outdoor basketball court. Oh, and Khloe Kardashian is the next-door neighbor.