MLS ID: CAR9857 - CASA DE COLORES

This Iconic PRESTIGE Property, in the historic center of Chapala, features FOUR Apartment each with 2 Bedrooms  PLUS an Owners PENTHOUSE. All of the apartments have their own electrical meter and the entire building has upgraded electrical, gas and plumbing. There are 2 ground floor apartments both of which are wheelchair accessible and have their own private gated entrance.  They both enjoy front terraces and garden spaces. One even has a fireplace in a bedroom but the other has a fountain courtyard

The 2 second floor apartments both have private entrance patios and one has a wraparound balcony.

This is another of those properties that offer privacy with a wall buffering you from the street. The principal corner wall has become a canvas for the famous artist Jesus Lopez Vega with a stunning mural honoring the spiritual life lakeside. The building walls are a celebration of festive and joyful color framed with soaring palm trees and blooming bugambilia that has made it one of the most photographed iconic facades in our Lakeside community.

Casa De Colores is a landmark home in Chapala with a rare pedigree in a coveted location. It sits on a corner lot just one block from the Malecon and one block from the town’s main boulevard Avenida Madero. It allows a close walkable life to the Plaza and the Mercado for fresh flowers, fruit, vegetables, meat and fish; numerous restaurants and coffee shops, the Malecon and pier with performance stages, fountains and parks, The spectacular Church of San Francisco and the exclusive Chapala Yacht Club. YET it is gently buffered away on a smaller Calle only 4 blocks long.

The OWNERS PENTHOUSE is a soaring open space with 2 walls of Palladian windows. The south facing windows are topped with glass gables that flood the dining room with natural light and lead to a south facing balcony terrace. The owners even installed a motorized dumbwaiter for groceries. The floorplan is a modern open concept with a dining room furnished for 6 but with space for a grand dinner and a living space with more Paladian windows facing to the west. Between them is the turret tower room that was the original crown of the home. Now it is a cozy office den with a fireplace and spectacular views.

There are 2 bedrooms one with 3 more Palladian windows looking south toward the lake and an ensuite bath. The other has windows to the North as well as the South and is air conditioned. A second full bath services this bedroom, dinner guests and allows a flex bonus room to also be utilized as a third bedroom if you wish. The flex room which is currently used as an art studio with a wall of built ins  cabinets and a beautiful stained glass window. The kitchen is an efficient galley but if you are a cook like me you could easily expand the kitchen into that flex room.

To me the genius of this property is its Romantic Mexican charm. On the Penthouse floor we saw the use of the hand painted Talavera tiles, the brick bovida ceilings, the exposed beams and clay tiles; brick arches and art niches.  The 4 rental apartments all have high ceilings and larger than normal rooms. Arched doors, wrought iron details and more colorful hand painted tiles. The redesign was respectful of the privacy and the desirable outdoor spaces renters crave. The location for tenants is ideal and in their years as landlords the current owners have enjoyed full occupancy and consistent income often with a waiting list for tenants.

The dream for many expats coming to the Lake Chapala area is a home that has all those authentic Mexican elements. Many buyers also had rental properties in the United States or Canada which are now difficult to manage remotely. Casa Chapala allows that passive income stream to continue while also providing a personal home … all in one property. Our demographic of new buyers has shifted with people in their 50s or younger. If you are not yet of an age to retire, this property allows a secure income that makes moving to Mexico financially viable. If you now live Lakeside but wish your children and grandchildren were closer this could be just the investment property that could make that dream come true.

Historical homes like this in prime locations are EXTREMELY rare and prized. As a landlord it is a turnkey investment with tenants already in place.