2305 Sugarloaf Perched above the water within the coveted Malibou Lake Mountain Club, this private lakeside retreat captures sweeping panoramic views, exceptional privacy and a true sense of escape-just minutes from Malibu, Calabasas, Westlake Village and the Westside. Tucked among mature trees and overlooking the lake, this 4-bedroom, 3.5-bath residence spans nearly 3, 000 square feet and presents a rare opportunity to create something truly special. The home has wonderful bones, character and an extraordinary setting, but is ready for some TLC, fresh imagination and a personal touch to bring it to its full potential. For the right buyer, this is an opportunity to transform an already unique property into a magical lake home tailored entirely to their own vision. The main living areas were designed to embrace the setting, highlighted by a glass-wrapped great room offering beautiful lake and mountain views from multiple vantage points. Original stonework and a dramatic stone fireplace bring warmth, texture and character, while the industrial-inspired kitchen features expansive counter space, a Wolf range and an open layout with tremendous potential for entertaining. The primary suite enjoys its own connection to the surrounding landscape, while additional bedrooms provide flexibility for family, guests, office space or a weekend retreat. Outside, terraced gardens, mature landscaping and multiple areas for relaxing and entertaining cascade toward the lake, offering endless possibilities to reimagine the outdoor spaces. There may also be potential for expansion or an ADU, subject to applicable approvals. Best of all, the property includes coveted Malibou Lake rights, a private dock and an ElectraCraft electric boat-creating a lifestyle centered around boating, entertaining, relaxation and life on the water. This isn't a perfectly polished, move-in-ready house-and that's precisely the opportunity. Bring your architect, designer and imagination. With thoughtful updating and the right vision, this property has all the ingredients to become an extraordinary and truly magical home on Malibou Lake. The setting is already here. The views are already here. The lake is already here. Now it's ready for someone to make the home their own.