Perhaps the most popular destination in Wildwood Park in Thousand Oaks is Paradise Falls. There are a variety of trails and ways to get to Paradise Falls. Here's a quick and easy 1 mile route.
Park in the main trailhead at the west end of Avenida de los Arboles. Take the Mesa Trail about a 3rd of a mile until you see the sign below, where you'll turn left.
Another third of a mile and you're at the teepee, where you'll find another clearly marked sign pointing you in the direction of Paradise Falls.
You turn right down the hill and take a short walk to the following sign.
Hike down some switchbacks and stairs and you're almost there.
And wallah! You're at the following sign, where you'll be reminded that these year-round falls are partially fed by urban run-off, making them something you may not want to jump into.
But Paradise Falls is fun to get to and see. A full-on roughly 40 foot waterfall a mile away from civilization in Thousand Oaks.
You can walk back the way you came or hike back up the trail above the Falls and loop back up to the teepee via the Wildwood Canyon Trail.