Investment Opportunity: Two Rental Houses in Kiryu, Gunma

This offering presents a unique chance to acquire two detached houses situated on a single plot in the Umeda-cho area of Kiryu City, Gunma Prefecture. The seller, who has managed these properties independently while living far away, is now consolidating their portfolio. Both buildings are currently tenanted, providing immediate rental income from the date of purchase. The total monthly rent is 55,000 yen, yielding an approximate gross return of 16.9% based on the asking price.

The first building is a two-storey wooden structure built in 1971, with a floor area of 85.70 square meters and a 4K layout. It is occupied by a family of four receiving public assistance, with rent paid directly from the city office to the owner's account. The second building is a single-storey wooden house built in 1977, with a floor area of 46.37 square meters and a 2DK layout. This unit is used as a second home by a national government employee. For the two-storey building, the deposit is three months' rent, and the renewal fee is 1.5 months' rent every two years. For the single-storey house, the deposit is one month's rent, with no renewal fee.

Necessary repairs, including air conditioner installation, breaker replacement, water pipe replacement, and floor replacement, have been completed before the current tenants moved in. The property is sold as-is, and interior inspections are not possible as it is an owner-change property. The land area is 225.34 square meters. The property has access to Tokyo Electric Power, public water, and public sewerage. Propane gas is used. Parking is available for two cars, with a maximum of three possible including the garden space. The property is located in a Category 1 Residential Zone with a building coverage ratio of 60% and a floor area ratio of 200%.