Investment Property in Koto-ku: A Fully Occupied Apartment Building

This property is a multi-unit apartment building located in the Oshima 8-chome area of Koto-ku, Tokyo. The building offers a total floor area of 455.94 square meters on a land plot of 313.9 square meters. Constructed in October 1987, the building is a three-story steel-frame structure. The property is currently being managed as a rental investment, with all 12 units occupied and generating income.

The unit mix includes nine 1LDK apartments and three 2DK apartments. The assumed annual rental income, based on full occupancy, is 13,248,000 yen, which yields an estimated gross return of 3.7% relative to the asking price. It is important to note that this yield is calculated as the ratio of annual rental income, including common area fees, to the sale price, and does not account for property taxes, maintenance costs, or other expenses. Furthermore, the assumed rent is based on market data and is not a guarantee of future income.

The property is located within a 6-minute walk from Oshima Station on the Toei Shinjuku Line and a 7-minute walk from Higashi-Oshima Station on the same line. The land is under full ownership rights and is zoned for semi-industrial use. The building coverage ratio is 60%, and the floor area ratio is 300%, though it is limited to 240% due to the width of the front road. The property faces a public road of approximately 4 meters to the west.

According to the agent notes, the building has been constructed in a manner that differs from its building confirmation application, meaning it is a non-conforming structure. The property is being sold with the existing lease agreements in place, which must be taken over by the new owner. Additionally, there is a separate old building on the land, located at 651-3 Oshima 8-chome, which is a three-story steel-frame structure with a total floor area of 186.5 square meters, built in June 1976, and used as a warehouse and residence.