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    Cul-de-Sac Estate Lot Title is generated by Realmo AI

    16235 W Ellenwood AVE, Monte Sereno, CA 95030

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    Claim this Listing
    For Sale
    Under Contract
    $2,239,000

    LAND - MONTE SERENO, CA

    Lot size:
    0.41 Acres
    Added:
    May 27, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 16235 W Ellenwood AVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Fencing
    Partial
    Standard status
    Active Under Contract
    Lot size
    0.41 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Carol Jeans

    Listing agent Carol Jeans License #01117857

    Listing office Christie's International Real Estate Sereno 214 Los Gatos Saratoga Rd., Los Gatos, CA

    Listing date May 27, 2026

    MLS# ML82033247 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Premier Monte Sereno location near Los Gatos schools, parks, and downtown.
    • Generous 17,946 sq ft lot in a cul‑de‑sac surrounded by multi‑million‑dollar homes.
    • Conceptual plans included for a 3,674 sq ft main residence with 4 bedrooms (3 en‑suites plus primary suite), office, and elevator.
    • Includes plans for a 1,000 sq ft two‑bedroom ADU, totaling approximately 4,674 sq ft of living space.
    • Mature trees and scenic views create a tranquil setting.
    • Easy access to major freeways for Silicon Valley commute.

    Overview

    Buildable residential land in an R1 zoning setting, privately situated at the end of a cul-de-sac. The property is surrounded by established, higher-end homes and features mature trees and scenic views. The offering includes conceptual plans prepared to support a full planning application.

    The conceptual package outlines an approximately 3,674-square-foot main residence with four bedrooms, including three en-suites plus a primary suite. The plan also calls for a dedicated office, four and one-half bathrooms, and a great room and dining area open to the kitchen. Additional elements shown include an elevator, covered patio, and an outdoor kitchen. The plans further include an approximately 1,000-square-foot, two-bedroom, one-bathroom ADU for an indicated combined living space of approximately 4,674 square feet.

    For access, the site is described as providing easy routes to major freeways, supporting a Silicon Valley commute, and it is located within minutes of Los Gatos schools, parks, and Downtown Los Gatos. An SB-9 urban lot split is in process, with a new address and Assessors Parcel Number forthcoming.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monte Sereno
    County
    Santa Clara
    State
    California
    Longitude
    -121.9888833
    Latitude
    37.2305643

    FAQs

    What type of property is this?
    Residential land & home lot - Residential R1 lot with mature trees and scenic views, plus conceptual plans for a main home and ADU.
    Where is this residential land & home lot located?
    The property is located at 16235 W Ellenwood AVE Monte Sereno, CA.
    What is the asking price?
    The asking price for this property is $2,239,000.
    What are key features of this property?
    This property features: Premier Monte Sereno location near Los Gatos schools, parks, and downtown.; Generous 17,946 sq ft lot in a cul‑de‑sac surrounded by multi‑million‑dollar homes.; Conceptual plans included for a 3,674 sq ft main residence with 4 bedrooms (3 en‑suites plus primary suite), office, and elevator.
    (408) 313-0067
    We can help!
    Listing Contact
    Carol Jeans
    Real Estate License ID: 01117857
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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