16601 Lark Ave
Los Gatos, CA 95032
16601 Lark Avenue · Land For Sale · 1.30 AC

Located in one of Silicon Valley’s most sought-after residential markets, this 1.3-acre redevelopment opportunity presents a rare chance to deliver a higher-density multifamily community in the Town of Los Gatos. The property is currently improved with an eight-unit apartment building, a single-family residence, and a vacant commercial building, providing existing improvements while a future development program is pursued.
The site is zoned for residential development at 5 to 12 dwelling units per acre; however, preliminary architectural studies utilizing California’s State Density Bonus program demonstrate the potential for substantially greater density. Ownership has commissioned conceptual plans for both a 22-unit and 26-unit multifamily community, illustrating the opportunity to maximize the site’s development potential while helping address the region’s critical housing shortage.
Situated minutes from Downtown Los Gatos, major employment centers, and regional transportation corridors, the property offers future residents convenient access to Silicon Valley’s largest employers, highly regarded schools, premier retail amenities, and an exceptional quality of life. With limited land availability, strong housing fundamentals, and increasing support for higher-density residential development throughout California, the site represents a compelling opportunity for developers, investors, and homebuilders seeking exposure to one of the Bay Area’s most supply-constrained markets.
Further highlighting the site’s long-term development potential, ownership recently completed a preliminary review with the Town of Los Gatos for a 100-unit, 100% affordable housing concept featuring a seven-story building consisting of five residential levels above a two-story parking podium. While no approvals have been granted and additional review would be required, the preliminary discussions demonstrate the potential for significantly greater density on the site under an affordable housing development strategy.