Another great area up Highway 33 and in the Los Padres National Forest is the Rose Valley area. This area is around 4000 ft and has access to a number of great spots, including a favorite, Middle Lion Campground, the stunning Piedra Blanca and hiking in the Sespe Wilderness (yet to be undertaken!).
A short walk in this area is to the Rose Valley Waterfall. It seems to have at least a trickle of water all the time.