Pete Rose -- Gambles On Real Estate ... PAYS OFF HUGE!!

He may never make it to the Hall of Fame, but Pete Rose just wrapped up a real estate transaction worthy of a plaque ... selling his home for a $1 MILLION PROFIT!!!

TMZ Sports has learned ... Charlie Hustle just sold his 5-bedroom home in Sherman Oaks, CA for a cool $1.9 million ... which is great news for the ex-MLBer who bought the place for $913k in '99.

No word on why Rose decided to part ways with the crib -- it's a pretty cool spot (pool, palm trees, office, bbq area) ... but he does spend a lot of time in Vegas these days.