Gallery Launch Gallery Alamy/Peter Lou / Christie's RE Southern CA

One famed Los Angeles-area residence is shedding its Hollywood past thanks to an extensive remodel ... and it's ready for a new owner, TMZ has learned.

The Encino Hills mansion featured in 1984's "The Karate Kid" has hit the market for a whopping $5.85 million ... but fans of the martial arts flick likely won't recognize the abode after its glow-up. Peter Lou / Christie's RE Southern CA

Check it out ... the house has undergone a complete top-to-bottom remodel, turning the 5-bedroom, 5-bath estate into a modern design gem. They did a lot more than "wax on, wax off" for this remodel, too!!! Peter Lou / Christie's RE Southern CA

Where it once served as Elisabeth Shue 's character's suburban pad in 'Karate K

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