The Terrace Townhouses were built in 1973 to 1975 on the same ridge as Parkwood Estates, as the attached half of the same subdivision: rows of townhomes with attached garages and enclosed atriums along Saddle Mountain Drive, Yager Way and Twin Lake Ridge, sharing the streets with the detached houses. The original marketing set, headed “Terrace Townhouses, Westlake Village”, survives in the Conejo Simi Moorpark Association of Realtors archive with four plans, and it is reproduced below.

The developer is not confirmed in any source Gary Jacobs has been able to verify. What the record shows is about sixty-two units, two- and three-bedroom plans of 1,300 to 1,740 square feet, single level and two story, with dues that listings report at $245 to $355 a month.

Four plans are on file: two single level, Plan 1A-2 at about 1,573 square feet with two bedrooms and Plan 1B/C-3 at about 1,637 with three; and two two-story, Plan 2D at about 1,740 square feet and Plan 2E, each drawn with a two- and a three-bedroom upstairs. The sale record since 2023 is entirely single level: five 1,297-square-foot three-bedrooms and a 1,565-square-foot two-bedroom, which suggests the MLS square footage understates the plan sheets or that a smaller plan was built; a buyer should measure. The top of the record is $1,225,000 on Saddle Mountain Drive in September 2025, with $1,120,000 on Yager Way in June 2024 and $1,013,250 on Twin Lake Ridge in August 2026 behind it.

Drawings on file for the tract. Other plans, elevations and options may have been offered.

Saddle Mountain Drive carries four of the six sales, with Yager Way and Twin Lake Ridge one each; the first and last also carry the Parkwood Estates houses, so the lot size in a listing says which tract it is. The MLS records a lot of several acres for these units, which is the common area of the whole association, not the unit. Position on the ridge decides the view.

The first reason is the single-level plan with an attached garage and a private atrium, which is the downsizer’s brief and rare in an attached community. The second is the position, on the ridge above the lake among the Parkwood houses rather than in a complex. The third is the dues, the lowest of the townhome tracts on this side. The fourth is the plans, on file, so a buyer knows the layout from the listing.

2026 sales show the fee at $306 a month; listings since 2023 have reported $245–$355 a month. The fee carries the buildings’ exteriors and roofs, the common grounds and, per the listings, the pool; which utilities are included is a question for the disclosure package.

What the association covers and what the CC&Rs restrict is not confirmed in any source Gary Jacobs has been able to verify. Take the budget, the reserve study, the insurance certificate and the CC&Rs from the seller’s disclosure package, read the minutes for any special assessment or litigation, and confirm the current fee with the manager before removing a contingency.

Los Angeles County side of Westlake Village, so Las Virgenes Unified: White Oak Elementary, Lindero Canyon Middle School and Agoura High School are the assignments listings give for this side of the city. Confirm the exact address with the district locator; the county line is also the district line, and it runs through the middle of the community.

Westlake Village runs on the lake and the promenade: the Landing and the Westlake Village Inn on the water, the shops and restaurants along Agoura Road and Westlake Boulevard, the YMCA, the community park, and Triunfo Creek and the Santa Monica Mountains trails within a few minutes. The Ventura Freeway crosses the middle of the community, and most tracts are five minutes from an on-ramp; the drive to the Westside is the same forty minutes to ninety it is from anywhere in the Conejo Valley.

The Ventura Freeway is the spine of the Conejo Valley, and this tract is a few minutes from an on-ramp. Errands are along Agoura Road, Westlake Boulevard and Lindero Canyon Road; the Westside is forty minutes on a good day and ninety on a bad one, and a buyer who commutes should time it at 7:30 in the morning before deciding.

The figures in this section were current when this guide was last reviewed. The sale record in the facts above and the listings below are drawn live from the MLS each time the page loads.

In the two years through August 2026, 4 units in the tract sold through the MLS, at prices from $850,000 to $1,225,000 and a median of $967,875. The top of the record is $1,225,000 on Saddle Mountain Drive in September 2025 for a 1,297-square-foot three-bedroom; $1,120,000 on Yager Way in June 2024 for a 1,297-square-foot three-bedroom. The bottom is $850,000 on Saddle Mountain Drive in March 2023; $850,000 on Saddle Mountain Drive in July 2025.

The shape of the six years is the same as the rest of the Conejo Valley: sharp appreciation from 2020 into 2022 and a band since, with the premium inside the band going to the plan, the lot, the view and the renovation. A record this short should be read as a range rather than a trend; Gary Jacobs keeps the full sale-by-sale history and can say where a given house sits in it.

No lease is recorded in the MLS sources this guide draws on, so it does not quote a rent for Terrace Townhomes; a current figure should come from the leasing agents who work these streets. Each association’s leasing rules — minimum terms, caps, pet rules — should be read before buying as an investment.

These homes date from 1973 to 1975, and the inspection carries the 1970s list: galvanised or early copper supply lines, original panels, single-pane windows where not replaced, original furnaces and water heaters, wood-shake roofs long since replaced but sometimes with the sheathing still original, and cast-iron or clay sewer laterals. In attached communities add the association questions: who owns the roof, the exterior walls and the plumbing inside them, when the buildings were last repiped or reroofed, and whether the reserves are funded for the next round. Ask the association for the roof and plumbing history in writing.

In attached communities the remodel that pays is inside the walls: the kitchen opened to the living room, the baths, the floors, the windows where the association allows, and a laundry brought into the unit. What does not pay is anything the association will not approve or that the next buyer cannot see from the listing photos. Check the rules before the plans.

The comparison is the other townhome tracts of Westlake Village. Village Homes, 1969 to 1977 on the Ventura County side, is 2,100-square-foot townhomes at a median of $1,370,000. Terrace Townhomes, 1972, is 1,150-square-foot units at a median of $745,000. Westlake Pointe, 1986 to 2023 behind a gate, is 2,300-square-foot townhomes at a median of $1,177,500 with dues of $450 to $557 a month. The Terrace sits between Terrace Townhomes and Westlake Pointe, with the lowest dues of the group and the only single-level plans with an attached garage on the Los Angeles County side.

Start with the association package: the budget, the reserves for roofs and paint, the insurance certificate and the minutes. Then the plan, single level or two, from the sheets, and the square footage measured rather than taken from the listing. Then the unit, with the inspector briefed for the early 1970s and the association asked in writing when the roofs and the plumbing were last done. Then the view, which is what separates otherwise identical units on the ridge.

Downsizers first, from the Westlake Village houses into a single level with a garage. First-time buyers second, for a Las Virgenes address near $1,000,000. Investors third, subject to the association’s leasing rules.

For a buyer, read the plan off the square footage and the level, take the association package from the disclosures before the inspection, and brief the inspector for the 1970s. Pull the permit history of any addition or remodel from the city and the association. Confirm the school assignment for the exact address.

For a seller, the comparable is the same plan and level, and the top of the record — $1,225,000 — is the renovated unit with the better position. Price to the record for the plan, say the association fee and the school assignment in the first lines of the listing, and let the condition argue for the top of the band.