Ask a longtime Cabo agent which neighborhood has the most history, and El Pedregal comes up almost every time. It was one of the first gated hillside communities built in Cabo San Lucas, and unlike a lot of what's gone up since, it wasn't built all at once by a single developer chasing a resort brand. It grew over decades, which is exactly why the palms are mature, the security feels lived-in rather than new, and the street layout has the kind of logic that only comes from a neighborhood that's been refined over time.
Where it actually sits
Pedregal climbs the hillside above downtown Cabo San Lucas, wrapped around the rock formations that give the neighborhood its name. You're five to ten minutes from the Marina and Medano Beach, close enough to grab dinner downtown without planning your evening around a drive. Elevation does a lot of the work here — the higher you climb, the more Pacific and Land's End arch you see, and the price tends to follow the view.
The homes themselves
This is single-family villa territory, almost exclusively. Sizes range from comfortable family homes to sprawling estates built for full staff and big groups, but the common thread is privacy and lot positioning over raw square footage. Architecture leans Mexican contemporary with heavy stone and stucco, open-air living spaces oriented toward the view rather than the street — the opposite instinct of a suburban subdivision.
What it actually costs right now
Based on active MLS listings in El Pedregal, pricing currently starts around 385,000 USD for a smaller townhome and runs up to roughly 10,950,000 USD for the largest estate properties on the hillside — a wider spread than most Cabo neighborhoods, and proof that Pedregal isn't a single price tier. Most of the meaningful inventory sits well above the entry point, in the 800,000 USD and up range, with lot position, view exposure, and documented rental track record explaining most of the difference from there. Homes with real, owner-reported performance data — gross revenue, occupancy, net operating income — tend to sit at the top of that range, since buyers can underwrite the purchase against actual numbers instead of a pro forma.
Why the rental numbers matter more than the address
A lot of Cabo neighborhoods sell buyers on a story — the brand, the club, the view. Pedregal sells itself on decades of transaction and rental history, which means a serious buyer can actually underwrite a purchase against real performance instead of a developer's projection. That's the quiet advantage of buying somewhere that's been around long enough to have a track record.
What to think through before you buy
Hillside living means stairs in a lot of homes — if single-level living matters to you, ask before you tour. Renovation costs can run higher than newer construction elsewhere in Cabo, since a meaningful share of the housing stock is older and due for updated systems. And because turnover is slow and well-priced view lots don't sit long, moving decisively matters more here than in a market still building out its inventory.
For more Information or the current availability reach out:
Alen Fabjan Managing Broker, The Oppenheim Group Cabo [email protected] alenfabjan.com | ogroupcabo.com
