Tesoro de Loreto Condos – Loreto´s premier residence building. Located in Loreto, Baja Sur on the waterfront at the Marina, Tesoro de Loreto offers eleven spacious 1600-2400 square foot units. 4 story development with 11 luxurious condo’s. 3 two bedroom condo’s on the 1st 2nd and 3rd floor’s & 2 penthouses on the 4th floor.
The buildings and grounds are 95% complete. Work was brought to a stop in 2009 and now is the time to finish and bring this gem to the market. There is an existing appraisal of $4,500,000 from 2011.
The building has been well maintained, being fenced in and provided with private 24 hours security, it is virtually ready to be finished.
Work to be done is installation of the elevator, roof top pool and outdoor amenities. To the rear of the building will be added paved and individual covered and gated parking for the units.
Updating of the already installed kitchens with granite work surfaces, tile splash backs and stainless steel appliances. Heating and air conditioning to the individual units have been installed.
Repainting the entire building inside and out will refresh it and give it that just finished look and smell.
The city of Loreto was the first Spanish settlement on the Baja California Peninsula. It served as the capital of Las Californias from 1697 to 1777. There are several buildings in Loreto from the 18th to the 20th century that are considered historical monuments by the federal government; the most important is the Mission of our Lady of Loreto, which is at the start of El Camino Real (“The Royal Road”), an historic corridor that follows north along the ancient route of the Spanish missions, to its ending in Sonoma, California, USA.
The city is now a highly sought after eco-tourist resort, catering mostly to U.S. and international travelers, with daily flights from the U.S. to Loreto International Airport.
The Bay of Loreto National Park was created b by the Mexican Federal Congress on July 19, 1996. The Marine Park covers 2,065 square kilometers in the Sea of Cortez ranging from Isla Coronado in the north to Isla Catalana in the south.
Loreto boasts nearly 250 km of coastline, 750 square km. of sea and 14 islands. The Sierra La Giganta mountain range, one of the tallest and most spectacular in Baja, overlooks the town of Loreto and creates breathtaking panoramic vistas.
The surrounding desert is rich with unique plant and animal life and the water teems with aquatic life, creating unlimited eco-touristic opportunities. The weather of Loreto is generally warm with more than 300 sunny days and a year round temperature averaging in the 80’s.
In addition to its legendary sport fishing, and whale watching, you can enjoy numerous outdoor activities such as swimming, snorkeling, scuba diving, golf, beachcombing, horseback riding, tennis, kayaking and sailing. On a trip to the nearby islands, you can marvel at the marine life that includes sea lions, exotic birds, playful dolphins and whales
Tesoro del Mar / VSWest LLC
The completion of the development will be a joint venture between VSWest and Tesoro del Mar Real Estate.
VSwest LLC are experienced developers who create truly unique living environments using existing buildings as well as new construction. We offer a start-to-finish solutions for our every project
Profitability is the main motivator in our projects. Redeveloping existing buildings gives us a huge economical edge on new builds. When buying existing buildings the vast majority of the exterior work is completed. Roofs, wall, foundations, flooring, windows, doors, services, drives, walks, fencing and landscaping is all done and completed. These existing structures represent great value for our end clients as we are acquiring soundly built, craftsmen made and often iconic architecture design for a fraction of what it would be to rebuild at today’s construction costs.
Tesoro del Mar real estate is owned by Edward Mealey Construction Company, which were the general contractor of the four story luxury condominium project fronting Loreto Bay on the Sea of Cortez. The building was constructed in 2007-08 by Edward Mealey Construction Company, an experienced residential and commercial contractor in El Central, Caliexico and Mexicali. The company holds free and clear title to the building.
Edward Mealey is also CEO of Tesoro Recylcing which is a major player in the Imperial Valley, and the Mexican cities of Tijuana, Ensenada, La Paz and Hermosillo. They have the only non-ferrous smelter in Baja California capable of 200 tons per week. They also own 10,000 acres of mineral rights in Baja California.
Alonso Esquer Villarreal – will be responsible for the marketing and selling of the 11 units. Alonso is experienced in selling individual houses, condos, fractional sales in Mexico resort areas of Cancun, PV, Los Cabos, Rosarito, Ensenada. He has extensive contacts with interested buyers, investors, in both Mexico and the USA. He has worked as sales director of such companies as GRUPO MARENA DEL PACIFICO (www.bajacountryclub.com) (www.clubmarena.com) , FIESTA AMERICANA (http://www.posadas.com/es/home), GRUPO MARINAD’OR (www.marinador.com), BAY VIEW GRAND (www.bvg.com.mx), MAYAN PALACE RESORTS ( www.grupomayan.com).
- The eleven Tesoro de Loreto condominiums are directly opposite of the Sea of cortez and next door to the resort Hotel La Mision. One block from Loreto bay marina and easy walking distance to the old town center featuring shos and award winning restaurants. Each condo has it own private balcony from which you can watch the whales swim by in the spring time.
- Offering Type: Debt
- Funding Goal: $350,000
- Initial Amount Raised: $75,000
- Minimum Investment Amount: $5,000
- Total projected sales: 2,245,000
- Total projected sales and marketing costs: 168,000
- Total projected cost for completion: 275,000
- Total projected gross profit: 1,802,000
- The 11 condominium units have been legally divided and indvidually titled. The HOA framework has been established and legalised. The units will be sold through a public notary and title will be held in bank trust. The building is 100% free and clear of loans or liens. The building has been built to code and meets all current zoning requirements