Prime Investment Land with Existing Rental Apartments in Edogawa, Tokyo
This prime investment opportunity presents a land parcel of 130.13 sqm (approximately 39.36 tsubo) in Edogawa Ward, Tokyo, priced at 78,000,000 JPY. The site is designated as residential land within a neighborhood commercial zone, offering a high floor area ratio of 300% and a building coverage ratio of 80%, allowing for significant development potential. The property benefits from a long, narrow layout and frontage on two roads, enhancing its utility and access.
According to the agent's notes, the property's key features include the effective utilization of its elongated space and an excellent location facing a shopping street and two roads. The land is being transferred with existing tenants. The current structure is an old two-story wooden apartment building containing six 1K units. Of these, five rooms are currently rented out, and one room is not for rent. The apartments do not have baths. The average monthly rent per room is approximately 35,000 JPY. The property also includes one parking space.
The area of Edogawa Ward offers a blend of residential comfort and local convenience, with the lively atmosphere of a local shopping street. An interesting fact about Edogawa is that it is home to the Kasa-ishi, or 'Umbrella Stone,' a mysterious ancient monument in the local Shinto shrine, Kasamori Inari, whose origins and purpose remain unclear. The closest major landmark is the historic and beautifully landscaped traditional garden, Kiyosumi Garden, located a short distance away in neighboring Koto Ward, renowned for its strolling pond garden and serene atmosphere.
