The Park Avenue princess is about to become a Valley girl!

Gossip Girl star Leighton Meester has just plunked down $1.5 million for a 2,847 square feet, 4 bed/4.5 bath in Encino, CA -- a far cry from Manhattan's Upper East Side.

Originally built in 1948, the single-story house boasts hardwood floors, a wood-burning fireplace, a galley-style eat-in kitchen with granite counter tops, a guest/staff suite, one bedroom with a private entrance, a walk-in closet (Blair Waldorf would approve!), a soaking tub and a separate glass-enclosed steam shower.

The backyard offers a wet bar, a fabulous pool, a built-in barbecue center and a cabana with a kitchenette, dishwasher and fridge.

Meester is currently in Paris for Fashion Week Spring/Summer 2012, but we bet she's going to be thrilled to come back to her new abode! Check out all of the pix from the star's gorgeous new digs in our gallery below.