Nestled atop 1.6 private acres on coveted Castlewood Drive, this light-filled Malibu retreat offers a rare blend of coastal proximity, sweeping ocean and mountain views, and extraordinary future potential. Just minutes from the beaches, restaurants, and shops of Malibu, the tri-level residence is thoughtfully positioned to embrace its natural surroundings, with expansive wraparound decks, walls of windows, and abundant natural light throughout. The flexible floor plan includes four bedrooms, three bathrooms, generous living and dining spaces, updated baths, and a versatile lower-level bonus room ideal for a home office, studio, gym, or guest accommodations. Occupying its own upper level, the primary suite opens to a private wraparound balcony where breathtaking whitewater, canyon, and sunset views unfold in every direction. Beyond the residence, a rare opportunity awaits. Following the loss of a detached accessory structure in the January 2025 fires, extensive planning and approvals have already been completed for its reconstruction, including geotechnical investigations, architectural and structural plans, Regional Planning approvals, OWTS clearance, and an active building permit application currently in plan check. Plans call for an impressive approximately 36' x 40' detached structure with an adjoining deck, creating exceptional potential for a creative studio, workshop, collector's garage, expansive live/work space, or private retreat. Deposits have been secured for the prefabricated steel structure and custom bi-fold hangar door, allowing the next owner to continue the process with significant groundwork already in place. Surrounded by open skies, canyon serenity, and ocean breezes, this exceptional property offers the opportunity to create a truly personalized compound while enjoying the very best of the Malibu lifestyle - a place to breathe deeply, create freely, and be inspired by the beauty of nature.