Conveniently Located Leasehold House in Tokyo's Kita City

This property is a two-story wooden house built in September 1979, offering a functional 3DK layout with a total floor area of 53.61㎡. The land area is 48.10㎡. The house features a practical design with toilets on both the first and second floors, a bath and toilet in separate rooms, a reheating function for the bath, storage space, a designated washing machine area, city gas, and public water and sewage systems.

Critical information from the agent's notes: The property is a leasehold (old law leasehold right) with a monthly ground rent of 14,000 yen. The lease period is 10 years and 11 months, with a contract expiration date of October 31, 2036. It is important to note that the building's lot does not front on a road as defined by the Building Standards Act. If rebuilding on this lot, it would be necessary to use the pathway on the east side of the property to connect the new building's lot to the road on the north side (a road under Article 42, Paragraph 2 of the Building Standards Act). This would require prior negotiations and obtaining consent from the landowner and owners of adjacent buildings, as well as potentially entering into a new leasehold contract. Furthermore, this process would reduce the size of the lot, which could make rebuilding on adjacent properties more difficult in the future. The agent remarks that obtaining such consent is likely to be considerably difficult. The property is currently tenanted, generating a monthly rental income of 70,000 yen (annual projected income of 840,000 yen), with a projected annual yield of 4.71%.