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Hacienda de las Flores – 105

Unique Potential for Investment

Unforeseen personal circumstances have presented a unique investment opportunity in a condominium development project that was halted due to unforeseen personal circumstances.  So the original owner’s folly may just be your fortune.

Ecuador has been named the #1 retirement haven in the world in 2013 by International Living. And Cotacachi is one of the most preferred retiree destinations in Ecuador.

Artist’s Concept of the Original Planned Project…

Hacienda-2-752x440

 

Hacienda de las Flores (HDLF) is located in the charming, expat-friendly Andean town of Cotacachi in northern Ecuador.  HDLF is the only property of its kind in the city, on a street of prestigious homes and condominiums, with unobstructed views of two soaring, inactive volcano’s whose slopes are a checkerboard of green fields and steep pastures. Hacienda de las Flores has real potential to become an upscale condominium complex with great amenities.

Hacienda de las Flores – Condominium Development

Asking Price:   $600,000

Permitting in Place to build this Project.  This project is connected to all city utilities.

Walk to everything, restaurants, banks, and shopping and local hospital

Two options are available for this land in the middle of Cotacachi.

Option 1:

Permits are in place for an independent or assisted living complex with a small medical facility. Heated Olympic pool, gym, sauna, steam room and organic restaurant.

Option 2:

Great Potential – High Demand

This project has the potential to become an upscale condominium complex with great amenities in a high demand region. There is currently no condominium complex in Cotacachi with elevators. A clubhouse with a heated pool, gymnasium, sauna and steam room is not available anywhere else in Cotacachi.

Property Size:

25,000 square meters or 6.6 acres.  The main parcel of land is 6.6 acres with adjoining property as part of the package.

Construction began on the Administration building with all the amenities.

Due to unforeseen personal circumstances this project was halted at the second floor.

Phase 1

Pilings are in place for a 2 and 3- story condominium complex to be built.  Elevators are part of the approved plan.  There are no elevators in Cotacachi…  This benefit adds to the convenience for residents

3-Story Building  – with elevator and staircase

Following is estimated selling prices for completed condominiums

1st floor, 2bedroom 2 bath, 1195 square feet with balcony                               $88,000 +

2nd floor, 2 bedroom 2 bath, 1066 square feet with balcony                             $81,000 +

3rd floor 1 bedroom 1 bath, 935 square feet with balcony                                 $74,000 +

2-Story Building

1st floor, 2bedroom 2 bath, 1195 square feet with balcony                               $88,000 +

2nd floor, 2 bedroom 2 bath, 1066 square feet with balcony                             $81,000 +

Two entrance gates on the property

Front gate has a guardhouse and small office to access the future 70-unit condominium complex.

The 6.6 acres is approved for 70 condominium units and a 2 story clubhouse with  a swimming pool, gymnasium, sauna and steam room.  Room to expand these amenities.  Clubhouse is built to the second floor.

Clubhouse has the potential to become a membership facility and begin generating  funds immediately.

Estimate to complete this condominium project is in the $4,000,000 range.

We can provide you with engineers, contractors and expertise guidance from the local Municipality and other resources.

Asking Price:   $600,000

For More Information:

Contact Micky Enright

Micky Enright – Realtor
mickyenright@gmail.com
Cotacachi, Ecuador
Local Cell: 098 546 9551