Investment Condominium Near Tokyo Tower with Strong Rental Yield
This investment property is a compact 1K unit located on the 5th floor of an 8-story reinforced concrete condominium built in May 1990, meeting the new earthquake-resistant standards. The unit offers a private area of 20.74 sqm (approximately 6.27 tsubo) with a 2.3 sqm balcony facing west. The building is well-equipped with an auto-lock security system, elevator, in-unit laundry machine space, city gas, and a parcel delivery box for convenience.
Financially, the property presents a compelling opportunity with an estimated annual rental income of 1,008,000 yen and a projected annual yield of 5.76%. The monthly running costs include a management fee of 10,700 yen and a repair reserve fund of 5,350 yen. The property is currently tenanted, ensuring immediate income, and an owner change is scheduled. The land is under an old-law leasehold with a monthly ground rent of 4,198 yen and a contract expiration date of May 31, 2050.
The location is exceptionally convenient, offering access to five stations and six train lines. It is a 4-minute walk to Akabanebashi Station on the Toei Oedo Line, a 6-minute walk to Shibakoen Station on the Toei Mita Line, and a 12-minute walk to Tamachi Station on the JR Yamanote Line. The area is zoned as a neighborhood commercial district. A notable feature of this location is its proximity to the iconic Tokyo Tower, a major landmark and observation deck that defines the skyline of Minato Ward.
