Investment Opportunity: City Heights New Asama & City Heights Asama B Apartment Buildings in Okayama

This listing presents a significant investment opportunity with the sale of two apartment buildings, City Heights New Asama and City Heights Asama B, located in Okayama City, Okayama Prefecture. The properties are offered as a single package with a combined land area of 931.02 sqm (approximately 281.63 tsubo) and a total building area of 503.46 sqm (approximately 152.30 tsubo). Constructed in September 1989 with a steel frame structure, the complex is situated in a First Category Residential Zone within an urbanization promotion area.

Critical agent notes provide essential details. The listed land area, building area, and total number of units are the combined totals for both buildings. The properties are subject to several regulations: they are located in a Type 3 Outdoor Advertising District, are subject to road slope restrictions and adjacent land slope restrictions, and fall within the Korakuen Background Preservation District. The unit breakdown is specified: City Heights New Asama contains 6 rooms, while City Heights Asama B contains 12 rooms. The facilities for the apartments include propane gas, electricity, private toilets, and combined bath and toilet units. Bicycle parking is available on-site, and there is also car parking available for a fee of 3,300 yen.

The property is currently fully tenanted, offering immediate rental income with a surface yield of 10.53%. The location in Naka Ward, Okayama City, provides convenient access to the Sanyo Main Line's Takashima Station, approximately a 17-minute walk (1,360 meters) away. The area is rich in history and culture. A notable nearby landmark is the stunning Korakuen Garden, one of Japan's Three Great Gardens, renowned for its elegant landscapes, ponds, and tea houses, offering a serene escape just a short distance from the property.