This is a Cotacachi building we fixed up and no longer want to manage.
See why this is a bargain below. One great thing is that what is expensive up north…tile, hardwood etc. is the standard construction material here so we created a premium complex. .
The entrance.
Construction costs are low and the craftsmen are handy…they’ll do things you ask and also make excellent suggestions along the way.
For example, outside our top unit, we have a small roof garden… with really great views.
The flowers will grow really fast in the Ecuador sun!
Here are shots from this sunny balcony.
Here is the view from the front of the studio.
Here is sunset from the back of the studio and from…
the front.
and back at night.
The entire building… three apartments are for sale… furnished including appliances, furniture…
The top floor apartment is a studio on the 4th floor.
This is a loft studio with great light and an open feel with…
full dining area and…
kitchen.
but not the paintings.
There are great views all around.
Inside the curtains is the sleeping area and… here is a view looking…
out of the sleeping area.
out.
Here…
is…
the bathroom in the studio.
This building has four floors… no elevators. There are three apartments that we currently rent. All are rented at $600 a month.
The apartments are not condominimized. The entire building is being sold. The next owner may wish to divide the units or keep them as rentals.
This is the entrance to unit #1.
Unit #1 is on the first and second floor.
The first floor has a living area and…
dining and…
kitchen and…
bathroom. There is an open high ceiling with a mezzanine.
a second floor bathroom and bedroom upstairs.
Up the stairs.
the bedroom has…
plenty of space and…
a king size bed plus…
a view to the floor below and flowers.
and a relaxing couch
This is the second bathroom on the second floor.
Unit #2 is a two bedroom unit is on the third floor.
This is the living room.
This is fully furnished with…
two bedrooms and or…
office/den and…
balcony. The kitchen…
has hardwood cabinets which had not been installed when I took this shot but are in place now.
These floors are among the highest points in the village and views from both units are the best around. Mornings give the sunrise over Mt. Imbabura. Evenings offer sunset in the east on Mt. Cotacachi.
and you can see the entire village…
and both mountains during the day.
This apartment complex is at…
a central location in Cotacachi directly across from the colonial Inn Land of the Sun (formerly Meson de las Flores). This is next to the main plaza
one block from the central plaza.
One renter wrote:
Hola Merri, arrived the 26th and am now rested and enjoying the condo!!! The views are just magnificent!!!! ……wonderful coffee with these panoramic views………. you should change the name to Casa Heaven !!….. look forward to seeing ya’ll soon…….Peace and Love
Another renter wrote:
Merri, I just wanted to let you know how beautifully the workshop went. Great attendees were a big part of it, but the performance of your staff, particularly Mauricio, kept everyone in a great mood. He was a fountain of local information, as well as dedicated to making sure that everyone’s needs were attended to.
The apartments rival La Mirage in comfort and beauty. My wife showed it off to about half the attendees. Particular praise came for the unique dining table on the top floor.
Thanks again for helping to make everything a success. Regards to Gary and Ma.
In all the building has about 3,500 + square feet of floor space… tremendous views and is exactly in the center of town… next door to our hotel and just down the street from the main plaza and this main Cathedral.
The $149,000 sales price means it is selling at below $35 a square foot, well below construction costs and the furniture is included! When fully rented at $600 a month, the cash flow is 11.5%.
This price is for the entire building, three apartments on four floors offering over 3,500 square feet of floor space.
This offers a good income opportunity.
Water costs $7.78 a month for all three apartments. Electricity $26.86 a month for all three apartments. four cylinders of gas per apartment $2.50 each cylinder. The taxes for the last year were $61.71 for the entire year. Insurance is in the $250 a year range. We pay $10 for cleaning after a unit is vacated.
Cotacachi is two hours north of Quito on the Pan Am Highway.
The condos are next door to our hotel Inn Land of the Sun which is across the street from Cotacachi’s main plaza on the corner of Garcia Moreno and Sucre.
You can inspect these condos by appointment.
Gary
