Property for Sale: Oceanfront Building in Playas de Tijuana

Description:

Property for Sale: Oceanfront Building in Playas de Tijuana
Price: $35,700,000 USD (Exchange Rate: 17.78 MXN)

Location & Accessibility
Location: Playas de Tijuana, near the U.S. border.

Accessibility: Just 25 minutes from the international border crossing. Easily accessible via the scenic highway, offering ocean views and proximity to one of the region’s best beaches.
Building Features
Construction Status: Approximately 60% complete (in shell stage), with the lobby and some units further along due to initial sales activity in 2009.

Building Type: Originally designed as a condo-hotel.
Structure:
Floors: 10 (including 2 underground parking levels)

Projected Units:
226 condominiums
124 hotel rooms
35 villas
Total Built Area: 74,666.40 m²
Land Size: 12,346.44 m² oceanfront lot

Specialized Services: Real estate agent Luis Bustamante has a list of engineering firms available to conduct safety assessments and structural evaluations.
Potential Uses
Primary Plan: Operate as a condo-hotel, as originally conceived.

Alternative Uses:
Mixed-use development (e.g., offices, clinics, assisted living)
Partial use for Airbnb or short-term rentals
Adaptable to current market trends, which have evolved since 2009.

Legal Status & Documentation
Available Documentation: All legal documents are available at the office of the listing agent, Luis Bustamante.
Ownership: Currently held by a financial institution.
Permits & Feasibility Studies: Available, based on approvals obtained at the time construction began.

Market Conditions
Investment Opportunity: 2024 is considered a prime time to invest in coastal hospitality and residential projects in Tijuana.

Demand: Strong demand from both Mexican and American markets—90% of potential customers are within a 30-minute drive.
Revenue Potential: High, with income generated in USD.
Financing: Attractive mortgage financing options enhance sales potential.
Hotel Supply: There is currently a lack of hotel inventory in the region, increasing the project's appeal.

Nearby Services & Amenities
Rosarito: Only 15 minutes away, with shopping centers including Walmart and Home Depot.
Tijuana: Also 15 minutes away, featuring high-end shopping and world-class restaurants.
Utilities & Transportation: Fully connected to the city’s infrastructure, with public transportation available.

This building offers a significant investment opportunity, particularly given the flexibility in potential uses and the favorable market conditions. For more information or to review documentation, contact Luis Bustamante to explore the project’s possibilities and discuss potential adaptations.