Shatele Teruya: A Prime Investment Apartment Building in Naha, Okinawa
This investment property, Shatele Teruya, is a reinforced concrete (RC) three-story apartment building constructed in December 1989 (the first year of the Heisei era). It comprises a total of 9 units: one 4LDK apartment on the first floor and eight 3DK apartments spread across the second and third floors. The building is situated on a plateau in a residential area south of Shurijo Park, offering a quiet environment with a prestigious address.
The property's equipment includes propane gas, water supply, sewerage, and electricity. The land, with a total area of 508.60 sqm, fronts a 5.2-meter wide public road to the east, with a road frontage of 19.2 meters. A key feature is the provision of parking for all households, with one space secured for each unit.
Financially, the projected yield at full occupancy is an attractive 5.77%. This calculation assumes the first-floor residence is leased at a monthly rent of 150,000 yen. The property is offered for sale with the first-floor unit currently vacant and will be handed over in its present condition. The availability of a building condition survey and the specific handover timing are open for discussion.
The area is rich in history and culture, being just an 8-minute walk from the Okinawa Urban Monorail's Shuri Station. A major landmark is the nearby Shurijo Castle, a UNESCO World Heritage site and former royal palace of the Ryukyu Kingdom, which offers stunning views and deep historical significance for the region.
