REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 12,037,806
Est. payment /mo
Active
La Ribera #Vista Cortes East Cape, Baja
107,571 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 107,571 sqft
Price per Sqft $111
Subdivision Centro-La Ribera
MLS Listing ID 26-3628
Construction Status Completed
Year Built 2020
Annual Tax Amount $153,990
Lot Size 2.470 Acres
Property Description
Vista Cortés is a completed, 100%-occupied multifamily investment property for sale in La Ribera, East Cape, Baja California Sur, minutes from Costa Palmas. Offered at US$12,037,806, the property comprises 76 completed residences across contemporary two-story buildings on approximately 2.47 acres, with approximately 43,954 sq. ft. of construction. Of the 76 residences, 75 are income-producing units and one additional studio is used as an on-site office. Built in 2020, Vista Cortés includes one income-producing studio, 38 one-bedroom residences and 36 two-bedroom residences. Individual units range from approximately 31.64 m² to 65.26 m². Each residence includes one bathroom, an open living area, an all-electric kitchen with modern finishes and air conditioning. Select upper-level residences have Sea of Cortez views. Controlled access, perimeter fencing, on-site parking, low-maintenance desert landscaping and a substantial central open area define the community's low-rise site plan.
For investors evaluating multifamily property on the East Cape, Vista Cortés offers a fundamentally different profile from raw land, presale inventory or a development still in lease-up. The asset is already built, operating and currently 100% occupied. Advance leasing commitments already represent at least 30% of capacity for 2027, providing additional evidence of current residential demand in La Ribera.
That demand is closely connected to the broader growth of the East Cape. Vista Cortés is positioned minutes from Costa Palmas, home to Four Seasons Resort Los Cabos at Costa Palmas, Amanvari, residential communities, a marina and golf. As hospitality and residential development has expanded in and around La Ribera, so has the need for housing serving administrative, professional and operational personnel working throughout the surrounding area. Vista Cortés occupies a distinct position within that market as an existing multifamily residential asset with demonstrated current demand rather than a future housing concept.
The official investment model projects approximately MXN $13.52 million in Year 1 gross scheduled rent, equivalent to approximately MXN $1.13 million per month, with an initial gross yield of 6.5%. The model assumes 4.5% annual rent growth and 10% annual appreciation and projects a 15.91% IRR including appreciation over the modeled period. These figures are illustrative projections from the official investment deck and are not audited historical results or guarantees of future performance. Financial information, rent roll, contracts and supporting property documentation are available to qualified buyers subject to confidentiality and independent due diligence.
The approximately 2.47-acre site also includes a large central zone that may provide additional long-term flexibility. A future owner may evaluate potential additional residential units, commercial spaces, resident amenities or operational improvements independently of the existing 76-residence operation. Any future development, expansion or alternate use remains subject to feasibility, zoning, permitting and applicable governmental approvals and should not be interpreted as an approved plan.
Vista Cortés was built by South Baja Constructora, part of Grupo Gevilla, a regional organization with experience in residential, hospitality, commercial and infrastructure construction, landscaping and project management. Its portfolio includes work associated with Costa Palmas, Four Seasons La Ribera and Montage Los Cabos, providing relevant regional context for the team behind a completed multifamily property of this scale.
Vista Cortés brings together the characteristics investors typically evaluate separately: a completed multifamily asset, 100% current occupancy, 75 income-producing residences, a diversified unit mix, proximity to one of the East Cape's principal hospitality and residential growth corridors, and additional site capacity that may be evaluated over time. For buyers seeking income-producing commercial real estate in La Ribera or a stabilized multifamily investment property near Costa Palmas, Vista Cortés offers an operating asset with immediate cash flow, projected rent growth and long-term appreciation potential rather than a development-stage proposition.
For investors evaluating multifamily property on the East Cape, Vista Cortés offers a fundamentally different profile from raw land, presale inventory or a development still in lease-up. The asset is already built, operating and currently 100% occupied. Advance leasing commitments already represent at least 30% of capacity for 2027, providing additional evidence of current residential demand in La Ribera.
That demand is closely connected to the broader growth of the East Cape. Vista Cortés is positioned minutes from Costa Palmas, home to Four Seasons Resort Los Cabos at Costa Palmas, Amanvari, residential communities, a marina and golf. As hospitality and residential development has expanded in and around La Ribera, so has the need for housing serving administrative, professional and operational personnel working throughout the surrounding area. Vista Cortés occupies a distinct position within that market as an existing multifamily residential asset with demonstrated current demand rather than a future housing concept.
The official investment model projects approximately MXN $13.52 million in Year 1 gross scheduled rent, equivalent to approximately MXN $1.13 million per month, with an initial gross yield of 6.5%. The model assumes 4.5% annual rent growth and 10% annual appreciation and projects a 15.91% IRR including appreciation over the modeled period. These figures are illustrative projections from the official investment deck and are not audited historical results or guarantees of future performance. Financial information, rent roll, contracts and supporting property documentation are available to qualified buyers subject to confidentiality and independent due diligence.
The approximately 2.47-acre site also includes a large central zone that may provide additional long-term flexibility. A future owner may evaluate potential additional residential units, commercial spaces, resident amenities or operational improvements independently of the existing 76-residence operation. Any future development, expansion or alternate use remains subject to feasibility, zoning, permitting and applicable governmental approvals and should not be interpreted as an approved plan.
Vista Cortés was built by South Baja Constructora, part of Grupo Gevilla, a regional organization with experience in residential, hospitality, commercial and infrastructure construction, landscaping and project management. Its portfolio includes work associated with Costa Palmas, Four Seasons La Ribera and Montage Los Cabos, providing relevant regional context for the team behind a completed multifamily property of this scale.
Vista Cortés brings together the characteristics investors typically evaluate separately: a completed multifamily asset, 100% current occupancy, 75 income-producing residences, a diversified unit mix, proximity to one of the East Cape's principal hospitality and residential growth corridors, and additional site capacity that may be evaluated over time. For buyers seeking income-producing commercial real estate in La Ribera or a stabilized multifamily investment property near Costa Palmas, Vista Cortés offers an operating asset with immediate cash flow, projected rent growth and long-term appreciation potential rather than a development-stage proposition.
Location
State Baja
Community La Ribera
Area East Cape South
Region East Cape
City Region East Cape
Interior
Cooling Wall Units/Unidades
Flooring Ceramic Tile
Exterior
View Ocean, Mountain
Garage No
Building
Construction Status Completed
Others
Senior Community No
Tax ID 4-03-056-0083
Security Features Guarded/Vigilancia
GET MORE INFORMATION