Investment Apartment Building in Okayama City's Tsushima Higashi Area

This property is a wooden two-story apartment building located in the Tsushima Higashi 3-chome area of Kita-ku, Okayama City, Okayama Prefecture. Built in February 1981, the building has a total of six residential units, each with a 1K layout. The total land area is 114.21 square meters, and the total floor area of the building is 102.46 square meters. The property is situated in a Category 1 Low-Rise Exclusive Residential District within an urbanization promotion area.

As an owner-change property, the building currently has two out of six units occupied, generating an annual rental income of 792,000 yen. The vacant units have been recently renovated and are available for interior viewing. The property is being sold at a price of 12 million yen and is ready for immediate transfer.

The building's equipment includes propane gas, a municipal water supply, a septic tank, air conditioning, a water heater, electricity, a dedicated toilet, a separate bath and toilet, a heated toilet seat, and a shower. The site is bordered by two roads: a 2-meter-wide public road to the north with a 9-meter frontage and a 1.8-meter-wide public road to the south with a 9-meter frontage. Both roads are unpaved. The land is flat and the building coverage ratio is 50% with a floor area ratio of 100%.

The property is a 14-minute walk from Hokaiin Station on the Tsuyama Line, providing access to central Okayama. The surrounding area is a quiet residential neighborhood with local amenities. This apartment building represents an investment opportunity with existing rental income and potential for increased occupancy.