Rainbow Hills: A Well-Maintained Apartment Building with Strong Rental Performance in Nagasaki

This listing presents Rainbow Hills, an apartment building for sale located at 14-12 Hikomicho, Nagasaki City, Nagasaki Prefecture. The property, built in March 1994, is a two-story wooden structure with a total of 10 units. It offers a total building area of 199.83 square meters (approximately 60.45 tsubo), with each floor covering 91 square meters. The layout consists of four 1R (one-room) units on the first floor and four 1R units with lofts on the second floor.

Critical agent notes have been translated and provide essential details. The Equipment/Facilities include city gas, air conditioning, hot water supply, electricity, private toilet, separate bath and toilet, internet connectivity, and loft spaces. Special Notes/Remarks highlight that the property undergoes regular interior and exterior maintenance, making it a very clean building. It is almost fully furnished and equipped with appliances, is popular with vocational school students, and has maintained stable occupancy.

The property boasts an impressive gross yield of over 20%, with an average occupancy rate of 87.6% over the past five years, indicating a reliable income stream. The land, with an area of 199.83 square meters, is freehold ownership. It is located within a City Planning Area, designated as a Category I Low-Rise Exclusive Residential Zone, with a building-to-land ratio of 50% and a floor area ratio of 80%.

The surrounding area of Hikomicho offers a quiet residential atmosphere. Nagasaki is a city rich in history and culture, famously known for its unique blend of Japanese and foreign influences, visible in its architecture and cuisine. A major landmark not far from the city is the historic Glover Garden, an open-air museum exhibiting Western-style homes from the Meiji period, offering panoramic views of Nagasaki Harbor.