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23123 Park Terra, Calabasas, California 91302, Calabasas, 91302 - 4 bed, 5 bath

23123 Park Terra, Calabasas, California 91302 home-pic-0
ACTIVE$2,325,000
23123 Park Terra, Calabasas, California 91302
4Beds
5Baths
3,663Sqft
5,221Lot
Year Built
1989
Close
-
List price
$2.33M
Original List price
$2.44M
Price/Sqft
$635
HOA
$400
Days on market
-
Sold On
-
MLS number
SR25153494
Home ConditionExcellent
Features
Good View: Trees/Woods
Patio
ViewTrees/Woods

About this home

We found 3 Cons,5 Pros. Rank: price - $2.33M(57th), sqft - 3663(67th), beds - 4(50th), baths - 5(64th).

Magnificent Mediterranean Estate in the prestigious Calabasas guard gated community of Bellagio! This amazing remodeled beauty features one of the largest floor plans in Bellagio boasting a grand living room w/ high ceilings and a wall of windows for tons of natural light! Huge upstairs bonus room that can be converted to a 5th bedroom, game room, 2nd family room, etc! Gourmet kitchen w/ center island & stainless appliances opening to a spacious family room w/ fireplace & sliders leading to a private backyard w/ fabulous covered patio and mature trees! Beautiful primary suite w/ another cozy fireplace, private bath & dual sinks, huge primary closets! 3 car garage! Mostly dual pane windows! Dual HVAC units! Quiet Cul-De-Sac street! One of the best located gated communities in Calabasas....Close to Calabasas Lake, The Commons, parks, Las Virgenes Schools, Farmer Market, Starbucks and much more!!!!

Nearby schools

8/10
Chaparral Elementary School
Public,•K-5•0.9mi
6/10
Bay Laurel Elementary School
Public,•K-5•1.1mi
7/10
Alice C. Stelle Middle School
Public,•6-8•1.1mi
8/10
Calabasas High School
Public,•9-12•0.8mi

Price History

Date
Event
Price
10/24/25
Price Change
$2,325,000-2.9%
08/13/25
Price Change
$2,395,000-2.0%
07/09/25
$2,445,000
Condition Rating
Excellent
This property, though built in 1989, has undergone an 'amazing remodeled beauty' and 'extensive remodel' as described. The images confirm a gourmet kitchen with modern white cabinetry, a large center island, stainless steel appliances (double oven, gas cooktop, microwave, refrigerator), and contemporary tile flooring. The bathrooms feature updated vanities with dual sinks and modern fixtures. The presence of dual HVAC units and mostly dual-pane windows further indicates significant recent upgrades. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with an 'excellent' condition rating.
Pros & Cons

Pros

Prime Location & Security: Located within the prestigious guard-gated community of Bellagio on a quiet cul-de-sac, offering enhanced security and a desirable Calabasas address with proximity to Calabasas Lake, The Commons, and top-rated Las Virgenes schools.
Extensive Remodel & Modern Amenities: Described as an 'amazing remodeled beauty' featuring a gourmet kitchen with a center island and stainless appliances, dual HVAC units, and mostly dual-pane windows, ensuring modern comfort and energy efficiency.
Spacious & Versatile Floor Plan: Boasts one of the largest floor plans in Bellagio (3663 sqft), including a grand living room with high ceilings, abundant natural light, and a huge upstairs bonus room adaptable for various uses like a 5th bedroom or game room.
Luxurious Primary Suite & Interior Features: The beautiful primary suite offers a cozy fireplace, private bath with dual sinks, and expansive closets, complemented by a spacious family room with a fireplace and sliders to the backyard.
Private Outdoor Living & Parking: Features a private backyard with a fabulous covered patio and mature trees, ideal for entertaining and relaxation, along with a convenient and ample 3-car garage.

Cons

Modest Lot Size for an Estate: At 5,221 sqft, the lot size is relatively small for a 'Mediterranean Estate' in this price range, which may limit extensive outdoor amenities or perceived value for some buyers expecting larger grounds.
Significant Monthly Association Fees: A monthly association fee of $400 adds a substantial recurring cost to homeownership, which could be a consideration for budget-conscious buyers.
Recent Price Reductions: Multiple price drops from the original list price ($2.445M to $2.325M) suggest potential market resistance or an initial overvaluation, indicating buyers may perceive the current price as still high.

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