X17 EXCLUSIVE - Jennifer Aniston Downsizes, Shacks Up With Justin Theroux In 2-Bedroom Home

Jennifer Aniston and beau Justin Theroux are living together in this $3 million dollar Hollywood home. There's Jen's Range Rover covered up ... and Justin's motorcycle out back.

Although this home looks cozy, these digs are much smaller than what Ms. Aniston is accustomed to. Guess that's true love for ya!

Back in July, the 42-year-old Friends star sold her Beverly Hills estate for $38 million. And in April, Jen bought the 17th and 18th floors of a West Village apartment building in New York City for more than $7 million.

Before settling on this $3 million home, Jen had been house hunting with Justin, 39, for months ... checking out handfuls of mansions daily. One of those estates ... Ellen DeGeneres' Beverly Hills home with wife Portia de Rossi which has been on the market since June for a reported $60 million.

Looks like Mr. Theroux's simple lifestyle is definitely having a downsizing effect on Ms. Aniston!

This place has hardwood floors throughout, vaulted ceilings, a converted garage that has been made into a family room, a fantastic pool & spa ... plus a grassy hidden garden. Sounds perfect for a family. Hmm ... could Jen be looking to enter Mommyhood?

See interior shots of their new home in the gallery below.