Vanilla Ice -- He Can Now Buy the House He Allegedly Looted ... Legally

Vanilla Ice can try to unscramble the proverbial egg by buying the house he allegedly burglarized, because it's on the market.

You'll recall ... Ice was arrested for felony grand theft after allegedly looting the joint and taking furniture, a pool heater, bicycles and other stuff. Ice told cops he thought the stuff was fair game because it was on the curb.

The stuff was returned, and now the owner has put the Lantana, FL house on the market for $1.6 mil.