Parkwood Estates belongs to the second phase of the Westlake Village master plan, when the hillsides around the lake were subdivided after the lake basin filled. It was built from 1973 to 1978 on the ridge above the south shore, on lots larger than the lake tracts below, with the Terrace townhomes on the same streets. It is inside the City of Westlake Village, incorporated in 1981, and the Las Virgenes Unified district.

The developer is not confirmed in any source Gary Jacobs has been able to verify. What the record shows is a tract of about eighty-one houses, three- to five-bedroom plans of 2,900 to 3,800 square feet, more than half of them single story, on lots of 9,600 to 22,700 square feet, with a greenbelt and park carried in listings and an association fee that listings report at $375 to $656 a year.

The sale record shows plans of about 2,925 to 3,800 square feet: 3,176- and 3,600-square-foot single-story four-bedrooms, 2,925-square-foot five-bedrooms on one level, and 3,642- to 3,790-square-foot two-story plans. The single-story houses carry the record’s premium: the top sale, $3,300,000 on Saddle Mountain Drive in May 2023, is a 3,600-square-foot one-level four-bedroom on the largest lot, 22,661 square feet.

No plan sheet for Parkwood Estates is in the Conejo Simi Moorpark Association of Realtors archive that this guide series draws on, so there is no drawing to reproduce. The sale record shows homes of 2,925 to 3,790 square feet, median 3,498, with four bedrooms in five of the ten, five in three, three in two, and six of the ten recorded sales are single story.

Twin Lake Ridge carries six of the ten sales and runs the length of the ridge; Lake Pleasant Drive and Saddle Mountain Drive are the streets above and below it. The lots run from about 9,600 to 22,700 square feet, median about 13,800, and the larger ones are on the downhill side with the lake view. The Terrace townhomes share Saddle Mountain Drive and Twin Lake Ridge, so the address alone does not say which tract a listing is in; the lot size does.

The first reason is the single-story plan on a big lot, which is the scarcest product in Westlake Village and which Parkwood has more of than any other tract. The second is the fee: a few hundred dollars a year for a greenbelt, with no gate to maintain. The third is the position above the lake, five minutes from the promenade and the freeway. The fourth is the range: $1,500,000 to $3,300,000 in the same tract means an original house and a rebuilt one sit on the same street.

Listings report the fee at $375–$656 a year; the most recent sale, in January 2026, reported $656 a year, up from about $380 on 2023 and 2024 sales. The fee is nominal and carries the greenbelt and common landscaping; there is no gate.

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 September 2026, two homes in the tract sold through the MLS, both on Lake Pleasant Drive, for $2,400,000 in November 2024 and $2,780,000 in January 2026. Going back to August 2022, ten sales are on record, from $1,500,000 to $3,300,000 with a median of $2,112,500. The top of the record is $3,300,000 on Saddle Mountain Drive in May 2023 for a 3,600-square-foot four-bedroom; $2,920,000 on Twin Lake Ridge in August 2022 for a 3,642-square-foot four-bedroom. The bottom is $1,900,000 on Twin Lake Ridge in August 2022; $1,500,000 on Twin Lake Ridge in May 2023. Single-story homes account for six of the ten sales, at a median of $2,173,500.

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 Parkwood Estates; 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 1978, 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. Slope lots add drainage and retaining-wall questions that a general inspector will flag but a geotechnical engineer should answer; pools of this age often have original equipment and plaster. None of this is unusual; all of it is negotiable if it is found before the contingency comes off rather than after.

In a tract of this era the remodels that return their cost are the ones that bring a 1970s plan to the way people live now: the kitchen opened to the family room, the primary bath and closet, the floors and the glass, and, on the right lot, the pool. What does not return its cost is the addition that pushes the house past what the street will support; the record shows the top sales are renovated versions of the original plans on the better lots, not the biggest houses.

The comparison is the other estate tracts of the Los Angeles County side. Westlake Trails, 1970 to 1995 next door, is 3,800-square-foot houses at a median of $2,425,000 with no fee. Three Springs, 1988 to 1991, is 3,300- to 3,650-square-foot houses at a median of $2,075,000 to $2,280,000 with a fee of about $200 to $270 a year. Southridge Trails, 1978 to 1996 across the freeway, is 3,000- to 6,000-square-foot houses on lots of a third of an acre and up at a median of $1,975,000 with no fee. Parkwood trades with Three Springs at the median and offers the highest share of single-story houses of the group.

Start with the level and the lot, because they set the price. Then the house, with the inspector briefed for the 1970s: galvanised supply lines, original panels, single-pane glass, cast-iron laterals. Then the view and the slope: the downhill lots carry drainage and retaining-wall questions for a geotechnical engineer. Then the address: confirm the listing is in Parkwood and not the Terrace townhomes on the same streets.

Downsizers first, for the single-story plans. Move-up families second, from the lake tracts below into a bigger house on a bigger lot in the same district. Renovators third, for the original houses at the bottom of the record.

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, pool or converted garage from the county. 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 — $3,300,000 — is the renovated house on the better lot. 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.