There's a fireroad that connects the Highlands neighborhood of Pacific Palisades to the top of Lachman Lane (a road that will take you into the main part of Pacific Palisdes). You can walk along the fireroad or take the dirt trail that runs East of the fireroad, or you can make a loop. Watch out for coyote and dog poop...it's out there. There's also a little drinking fountain on the fireroad closer to the Highlands end if you get thristy. Please be respectful of people's homes as some of this hike borders on their backyard fences. I would save this one for daylight.
Today I took my 2 1/2 year old out to find a good hiding place. So you can do this with little ones, but it's better for kids a bit older. The stairs are uneven and there are some kind of steep sides, especially if you go off trail at all. We parked over on the Highlands side and walked toward the drinking fountain. From there, follow the dirt trail clearly lined with rocks. You'll head along the base of a rock wall with some unfortunate blue graffitti. Follow the stairs up until you reach the end of the stairs. You'll come an area that looks like some high schoolers might come with beers and sit and hang out at night. Then hike back down about 25 step and you should find the cache there. (Sorry, was easier to count the steps from that end). If you keep going further up on the trail, it will take you a great view spot!
Congrats to TropicalJoe for being the FTF!!!