Opportunity to Purchase a Prime Beachfront Property in Mal Pais.

Quick facts:

Location: Mal Pais, Nicoya Peninsula, Costa Rica
GPS location: N 9º 36′ 20.13″ W 85º 08′ 30.23
Setting: Beach front, set on its own, one of a kind, semi private cove.

This is a rare opportunity to purchase a sizable beachfront property in the premium location of Mal Pais, set in its own tiny bay with a unique feeling of privacy. To acquire a beachfront property with a size of almost one hectare and 56m of beach frontage is especially rare at a time when inventory of prime beachfront properties in this most desirable location is scarce. The March House property, set in mature tropical gardens is made up of two adjoining lots totaling 9562.60 m2:

LOT 1 of the two Lots comprising The March House estate has a large modern 6-bedroom house of 570m2 with a 40m2 pool and 25m2 covered rancho, and an 86m2 outdoor lounge area/yoga deck on it.

With its concession it also has permits issued by Cobano Municipality to immediately build three additional buildings totaling 511m2 on Lot 2. The existing permits just need to be activated in the Municipality to start building. It’s that easy.

LOT 1 ~ Plaza de la Señoría S.A.

5335.50 m2 (57,430 foot square) with the 6-bed house. 570m2 in size. (Over 6,000 feet) with 5 ½ bathrooms + 40m2 pool

25m2 covered rancho + 86m2 outdoor lounge area/yoga deck. The property also has a separate laundry and storeroom above a 27000 litre submerged water tank and a 20 ft container for added storage.

There is a 10m deep artensal well with plenty of water and high recuperation rate, even in the height of the dry season. This well feeds the sprinkler system that waters the garden.

Zoning is ZRR (Zona residencial y recreativa) with “Uso condicional de Cabinas”

A 20-year concession was granted on 5 May 2017 until 5 May 2037. This concession is renewable before expiry. Annual canon payment is 4,255,716 colones (at current US$ exchange = $8500)

Building permits
There are building permits already granted by the Cobano Municipality to build an additional 511 m2 on this property.

Note: These permits don’t expire. There are architectural plans available and passed by CFIA for three dwellings** as part of these permits.

**2 x 2-bed cabinas of 155m2 each with (plus) 8m2 pool
1 x 2-bed cabina of 100m2

Total of 436m2 approved construction over 3 units

LOT 2 ~ March Dos Mil S.A.

Vacant lot alongside Lot 1, with no buildings on it, measures 4227.10 m2.
This property doesn’t yet have a concession but is currently being applied for and is going through the process with Cobano Municipality. We have submitted an “anteprojecto” for building on the land, with architectural plans for two villas of 132m2 of construction, each with a pool.

Note: Whilst we are applying in the “anteprojecto” for only 2×2-bed villas
including pool (with a belief that “less is more”), it will be possible to build up to 7 similar villas, subject to permitting, with a total footprint of up to and not exceeding 40% of the lot size.

Zoning is ZRR (Zona residencial y recreativa) with “Uso condicional de Cabinas”

Total price for the two lots totaling 9562.60 m2 = $9,500,000

Note: These two properties will only be sold together.
The m2 price of the land alone is priced at $800m2. The last sale in this location was at $1,000m2. The immediate capital gain on comparables (recently sold) = $200 × 9562 = $1,915m

Planos and additional documentation for the properties are available on request.

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