4-Bed 4-Bath Old Colonial House for Sale in Merida, Yucatan, Mexico

4-Bedroom Partially Restored Old Colonial in Merida, Yucatan

This ready-to-be finished 5115 ft2 (475 m2) house is located in Merida's historic center on Calle 55 between calles 70 and 72, one block from Santiago Park, Merida’s best local plaza, and three blocks north of the main square with its cathedral and festivals.
This quiet street is free of buses and traffic. Parking is on the street or a half block away in a secured private lot. There is a little food shop across the street.
The 2-level house sits on a 4000 ft2 lot (370 m2). The first level with its 18-foot ceilings, has two entrance foyers, a 615 ft2 guest bedroom/bath/dressing area/walk-in closet, an arched interior/exterior courtyard with a proposed cascade water feature and water lily pond. Beyond the courtyard is a second bedroom area with its own large bathroom. This room leads into the 250 ft2 island kitchen/bar, arched living room
that looks out onto the pool, curtained pool house, and garden. There is also
a pool shower, pump room and laundry under the stair that leads up to the second level.
The second level has a 680 ft2 master bed and huge sky-lighted bathroom with arched windows that look out over the garden and pool. The master bath has very large closets and there are more closets out in the sky-lighted hall leading to the 4th bedroom. This bedroom has its own bathroom en suite as well as a walk-in closet, office area, and terrace.
Completely finished this house will sell for $375,000 to $450,000. A 3- bedroom/2 bathroom house less than one-third the size of Casa de la Naranjo just sold in the same neighborhood for $295,000. Other houses in the area that are only 3- bedroom/3bathroom that are 1000 ft2 less in size, are listed between $399,000 and $475,000.
The house is already held in a Mexican bank trust or a fideicomiso, a savings of $1500. The transfer of title can occur in a 3 weeks.
So at this time there I am offering two options:
1. Buy the house as is, and finish it according to your every whim. The grand old colonial is at that perfect moment for someone to choose the finishing touches on floors and walls, counters, bathroom fixtures. All the structural, electrical, plumbing and services have been completed. So at this stage you have the full range of choices to make this your very personal home. I have all the plans and designs to help you make this dream home become a reality, and will supervise its completion if you want. At the current exchange rate the price for completing the house is $85,000.
SALES PRICE: USD $150,000
2. Wait until the house is finished this year and purchase it as a turn-key, at which time it will be $295,000.