Business with Property For Sale in Mazatlan, SI, Mexico

5 De Mayo 1613

$1,400,000

The 5 de Mayo Apartment Building Mazatlan

Business with Property / Apartment / Business / Condo For Sale in Mazatlan, SI, Mexico - 48 bed, 36 bathBusiness with Property / Apartment / Business / Condo For Sale in Mazatlan, SI, Mexico - 48 bed, 36 bathBusiness with Property / Apartment / Business / Condo For Sale in Mazatlan, SI, Mexico - 48 bed, 36 bath

This seller is willing to negotiate commission with any real estate agent who brings an acceptable offer from a qualified buyer.

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The Basics
  • Property Type: Business with Property / Apartment / Business / Condo
  • Ad Type: For Sale
  • Listing ID: 171422
Price: $1,400,000
Main Features
48 Bedrooms
36 Bathrooms
8,774
Square Feet
8,773.56 ft2
Lot Size
4-Level Split
Built in 1953
Unspecified
Annual Taxes
Parking
Parking Lot
Contact Seller

Sanmir Lizarraga

331-283-7671 or 333-165-2722 Send Email
  • Property Description
  • Map Location
  • Mortgage Calculator
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Property Description

This apartment building is located in downtown Mazatlan, only 5 blocks from the Machado Square and the iconic Angela Peralta Theather, at the corner of 5 de Mayo and Canizales Streets.

It is condo ready, and has a total of 18 extra-large apartments, (12) 3 bedrooms and (6) 2 bedrooms, as well of (9) commercial spaces on the ground floor.

The number of units can be easily increased to 35, plus 18 parking spaces, with an existing remodeling plan deemed feasible by the City Planning Office, according to a recent letter dated April 6th of this year. If this 35 units were sold as condos at US $69,000 per unit, plus an additional 10% for the 18 parking spaces, there would be a US $1 million dollar net profit.

The asking price for the building is CAD $1,400,000, and includes the building as is, documentation of the remodeling project (done by the local architect Jose Antonio Duran Garzon), as well as the business plan.

The last sale of a comparable building in this area was the “Hotel Central”, now the "Inn Hotel at Centro Historico", at the corner of Belisario Dominguez and Angel Flores streets, a short 3 blocks distance from the Machado Square, and it closed at a price of CAD $1,400,000. It was acquired by the Arhe Group.

If any question please send an email to [email protected] or call me to my mobile +52 (33) 1283-7671.

Sanmir Lizarraga

Map Location

Approximate Map Location*

5 De Mayo 1613, Sinaloa, Mexico   82000

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* Each seller is responsible for ensuring that their map location is accurate. Please contact the seller directly if you have any questions.

Mortgage Calculator
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Contact Seller
Seller Name:

Sanmir Lizarraga

Phone:

331-283-7671 or 333-165-2722

Send Email