Beautiful Business Property For Sale in the Valley of Eternal Spring, Otavalo, Ecuador
Sell Price:
$750,000.00 (negotiable)
Owning a property and a business in Ecuador is just as much about living an alternative lifestyle as it is about making a sound long term investment! We meet many travelers who are just fed up with the lifestyle of the US and Europe. Their impression that living and working in Ecuador offers a better quality, less stressful life is accurate!
About Otavalo:
Otavalo (less than 2 hours from Quito) is a center of tourism, the third most preferred destination by international travelers in Ecuador. In March of 2004, a study rated Otavalo the tenth best city in Ecuador based on infrastructure and city services. With the election of Mario Conejo, the first Indigenous Mayor of Otavalo, renovation of downtown, a ban of heavy traffic and bold new conservation measures are transforming Otavalo into a model city. Now that Latin America is looking closer and closer and safer and safer to North American and European travelers, a surge of tourism in Ecuador is expected.
A valley rich in history, surrounded by spectacular volcanic mountain peaks, the consistent spring-like weather makes it a great place to live! There is lots of fresh air, sunny days, practically no bugs, and unlimited views.
The Otavalo Indians are economically and politically the most successful tribe of Indians in all of Ecuador; and, say the anthropologists, in all of Latin America. They have mastered the art and textile industry in Otavalo and are recognized around the world as dependable and serious business people. Otavalo Indians have taken an active role in local and national politics. Otavalo is also is also a center of Andean folklore music and the town boasts 3 recording studios. The richness of the Indigenous culture, the exquisite handicrafts, and the beauty of the Andean Mountains makes Otavalo a must see for any traveler, as well as a safe and comfortable place to live and/or do business for anyone who is eager to escape the “rat race and enjoy a slower pace of life.”
Location in Town:
Excellent location—4 blocks from the famous Handicraft Market in the Indian/Tourist town of Otavalo, and one block (visibly) from the Pan-American Highway. Due to the prime location of the property, it is a turn-key tourist-related (or any other) type of business.
Property Type:
The building was designed and constructed by ourselves (and 30 fine Indigenous builders) 15 years ago as a small Tourist Hotel and Restaurant, as well as living quarters. However, the property lends itself to many business opportunities, as well as multi-family living space. The property would be ideal for a hotel, bar and restaurant, music Peña, shopping mall, export business, as well as a living/rental space.
Property Details:
The property consists of approximately 3,000 square meters of land, with trees, gardens and many types of exotic birds. There is approximately 1,200 meters of solid brick and cement construction. On the property, there is plenty of room for expansion and development, especially in a town where there is absolutely no land left to develop. The building is built in the old colonial style with finely crafted hardwood arched windows and doors, terra cotta floor tile and traditional clay-tiled roof. The building was constructed according to U.S. anti-seismic standards. We are selling one of the best built constructions in Otavalo—and certainly the prettiest in the city! The building boasts excellent water pressure on all four floors. The building has a powerful, propane gas-fueled boiler system capable of producing 1000’s gallons of hot water a day. This system is an excellent backup to our efficient solar hot water system. With access to the land/building from two streets, the property has frontage on 3 streets, which have been newly paved by the City of Otavalo.
Characteristics:
16 rooms, large social area (restaurant), large working kitchen, two medium-sized apartments, one large penthouse apartment, small building in back (approximately 80 square meters) that serves as a laundry room and storage facility, which also has a full bathroom and a working fireplace. This could easily be converted into a small rental property. Adjacent to the main property, is a working area and parking garage (which can accommodate approximately 6 cars), with clothes lines and a general storage area consisting of 330 square meters of the total property.
First floor:
Consists of large working kitchen, with back door exit to outdoor enclosed pantry/food storage room, laundry area and herb garden. There is a large dining room with an excellent working fireplace, and space to comfortably entertain 60 or so people. The dining room leads outside onto the tiled patio and garden where we have tables and chairs for serving and relaxing, and this area may be used to accommodate another 30 or so people. Also on the first floor there are 8 rooms which have served as hotel rooms, each 5.5 X 4.5 meters in size with large bathrooms. All rooms face out into the garden and the property is in front of the Volcano Imbabura. Hundreds of hummingbirds and exotic birds roam the grounds.
Second floor:
There are two spacious and very popular apartments, each about 110 square meters in size, with glass windows looking down onto the garden. Each apartment has a large bathroom and a kitchenette with small balconies in the back. Also on the second floor there are 8 more rooms, equal to the rooms on the first floor, that open onto a balcony over-looking the garden.
Third floor:
There is a very large “penthouse” apartment, approximately 225 square meters, with large glass windows and a large balcony overlooking the garden. This apartment has one bathroom with a small adjacent room that may be converted into a sauna, large spacious kitchen and living room, two large bedrooms, and a large working fireplace.
The Roof:
The penthouse apartment has stairs that lead to the roof, where we have two 5,000 gallon reserve tanks for storing water (if needed), as well as more storage space. As stated before, there is excellent water pressure on all 4 floors. And efficinet hot water solar system is installed on the roof and fully functioning.
About Ecuador:
Ecuador is about the size of Colorado and lies directly on the equator (12 hours of sunlight every day) and is home to about l4 distinct tribes of Indians, as well as ‘mestizos’ (mixed), Spanish and black peoples. Ecuador boasts more climates, cultures, and natural wonders than just about any other place on earth. Ecuador’s currency has been the U.S. Dollar for the past 6 years. The effects have been dramatic—a lowered inflation rate, increased economic growth, and has given business a solid basis for expansion. It has eliminated the risk of devaluing currency fluctuations. International Living has ranked Ecuador as the world’s best retirement haven in l999 and again in 2005. The new president, Rafael Correa presently holds the office of president with an 80% approval rate!
The success of any business is measured by the amount of effort one puts into it! The potential of this property is unlimited for an energetic, creative (Spanish-speaking) couple/family, a travel company, an export business, or an established international hotel chain, or any other activity that one would desire to do! This is an excellent long term or short term investment!
Our building and property are extremely well maintained, and as land prices and construction costs are rising substantially in Ecuador and especiallyhere in Otavalo, our asking price of $750,000 is most reasonable.
As owners of the property, we plan on staying in the area. We would be available to help with information regarding business-startup, the ‘ins and outs’ of the system here, or we can give advice on who is reliable and who is not—when hiring service-providers!
Please, only serious inquiries will be appreciated!
Thank you,
Margaret Goodhart and Frank M. Kiefer
