Conan O'Brien is movin' on up!

The talk show host has spent a pretty penny on a massive estate in Pacific Palisades ... but it's not quite ready yet. And get this, he bought the lot next door to extend his property even more. The renovating process has been taking over 5 months, and the home wasn't very old to begin with!

Last June, Conan sold his L.A. mansion for $9.25 million, so we knew he had his sights set on something even more spectacular. Mission accomplished.

After signing a contract for more than $10 million a year to host his talk show on TBS, the red-headed funny man can definitely afford to live in this type of pricey neighborhood.