Investment Opportunity in Miyakojima: A Modern Six-Unit Apartment Building

This listing presents a fully occupied, six-unit wooden apartment building in the popular area near Minami Elementary School in Miyakojima City, Okinawa. Built in January 2020, this two-story structure offers a compelling investment opportunity with a stated annual revenue of 8.52 million yen and a surface yield of 7.1%. The property is currently operating at full capacity, providing immediate rental income.

The building's layout consists of two 1-room type units, two 1LDK type units, and two 2LDK type units, catering to a variety of tenant needs. The property is equipped with all essential utilities: water supply, sewage, electricity, and gas are available, and side ditches are present. A key feature is the wooden construction, which is noted for its superior insulation and humidity control, generally contributing to a comfortable living environment. From an investment perspective, the depreciation period for a wooden building is less than half that of a reinforced concrete (RC) structure, enhancing its economic efficiency over the remaining lifespan of the asset.

Critical agent notes specify that while Miyakojima's tourism demand continues to grow, creating a shortage of residential properties and promising stable income, this building cannot be permitted for use as a ryokan (inn) due to the presence of a nearby elementary school. The breakdown of the land and building price is subject to negotiation.