From $360K Lot to $18M Estate: A La Jolla Agent’s 50-Year Saga

LA JOLLA, CA – January 16, 2026 – In a transaction that encapsulates the staggering evolution of Southern California's luxury real estate market, a landmark estate in La Jolla recently sold for $18 million. While the price tag is impressive, the story behind the sale is even more remarkable, centered on the enduring career of one agent, Maxine Gellens, who has been intertwined with the property’s destiny for nearly half a century.

This sale marks the ninth time Gellens, of Berkshire Hathaway HomeServices California Properties, has represented the home at 2506 Ruette Nicole, a journey that began when the property was nothing more than a patch of dirt with a world-class view. In an unusual feat, she served as the dual agent in this latest transaction, successfully assisting both the buyer and the seller.

A Landmark Property's Half-Century Journey

The story begins in the late 1970s within the exclusive Montoro community, today La Jolla's only luxury single-family gated enclave. Back then, Gellens was the original listing agent for the then-new 41-lot subdivision. “When the developer bought the property, it was a just big hill overlooking the ocean,” Gellens recalled. “He basically put a tractor on it and got a subdivision map.”

In January of 1980, Gellens sold the vacant lot at 2506 Ruette Nicole for $360,000. Over the next four and a half decades, she would watch and participate as the lot transformed into a sprawling estate, a testament to the exponential growth of La Jolla’s prestige. The recent $18 million closing price represents a nearly 50-fold increase in value, an astonishing return on investment that underscores the long-term power of prime coastal real estate. Research shows the La Jolla market remains exceptionally strong, with a median price per square foot hovering around $1,081 and homes selling in a median of just 34 days, validating the high demand for properties in enclaves like Montoro.

“The value of real estate is nothing short of unbelievable and I’m not sure I could have imagined what a huge return on investment some of my clients would have when I first started selling there,” Gellens reflected. She remembers friends questioning her decision not to invest in the lots herself. “I had friends asking me why I wasn’t buying some of the lots there and I was like, ‘Are you kidding, I have two kids at UCLA, I need to eat,’” she joked.

The Anatomy of an Ultra-Luxury Deal

Selling a property in the eight-figure range requires a masterful blend of strategy, marketing, and connections. Working alongside her daughter and business partner, Marti Gellens, Maxine Gellens and her team orchestrated a campaign that generated significant interest in a remarkably short period. By combining traditional outreach with sophisticated digital marketing, they secured 12 private showings for a curated list of highly qualified buyers.

This targeted approach, a hallmark of successful ultra-luxury sales, proved effective. Escrow was opened within just 45 days of the initial listing—a compelling statistic for any home, but especially for one in the market's upper tier. “The buyer contacted us directly through our marketing efforts. He and the seller were both an absolute pleasure to work with,” said Maxine Gellens.

The approximately 8,927-square-foot residence sits on a 21,262-square-foot lot, offering panoramic whitewater views that stretch down the coastline. The seller had invested millions in a meticulous four-year renovation, culminating in a home equipped with a chef’s kitchen, a wine cellar, a media lounge with a wet bar, and a gym complete with a sauna. One of its most distinctive features, according to Gellens, is the parking. “There’s enough garage space for six vehicles…there aren’t many homes in La Jolla that have that,” she noted, highlighting an additional four-car “jewel box-style” garage that boasts its own ocean views.

The Human Element in High-Stakes Real Estate

Beyond the numbers and architectural details, the transaction reveals the unique motivations of high-net-worth individuals. The seller, after completing the exhaustive renovation and having the home professionally designed, never lived in it. Having previously owned a yacht in San Diego, he found he missed life on the water and opted to sell. The buyer, in contrast, purchased the home fully furnished with the designer pieces and will be a full-time resident—making them only the second owner to live in the home full-time since its construction.

This story is as much about Gellens' legacy as it is about the property itself. Her 50-year career is built on a foundation of deep local knowledge and trusted relationships. “There’s a reason why the Gellens’ name is synonymous with La Jolla real estate,” said Nicki Marcellino, Vice President and Regional Manager for Berkshire Hathaway HomeServices California Properties. “This a testament to the relationships that Maxine and Marti have built and the trust their clients and friends have placed in them.”

Gellens’ dedication is legendary; she admits to taking only one vacation longer than a week since she began her career and has no plans to slow down. Her relentless work ethic is balanced by a passion for competitive ballroom dancing, for which she practices daily. A native of San Diego and an avid Padres fan, her interests are often torn as she travels to watch her two grandsons, who are professional baseball players, compete.

This sale is a capstone on a long and storied career, yet for Gellens, the focus remains on the people and the community she has helped build for five decades. “I’m so fortunate that I’ve been able to work with my daughter and make so many friends in this area,” she added, perfectly summarizing the blend of professional acumen and personal connection that has defined her success.