Major Price Reduction! Villa Encantada, a magnificent three-story property offers a prime Malibu location with panoramic ocean views. This private estate is located just above the La Costa Beach area in a gated community and is situated on just over an acre of landscaped grounds. This Mediterranean masterpiece features 5 bedrooms and 6 baths a large play room. Formal dining room and spacious living room with fireplace and balcony. A gourmet kitchen with breakfast area that leads out to the ocean view pool. A library, den with fireplace and bar which open to a patio and garden. The master suite has a private patio, fireplace, indoor spa tub all with sweeping ocean views, a double walk-in closet and vanity. Downstairs is a bonus/gym area, three bedrooms all en-suite that open to a covered veranda overlooking the large lawn. There is also a three-car garage and additional parking off the driveway. Includes deeded rights to the private Malibu La Costa Beach and Tennis Club.