Investment Opportunity: Multi-Building Apartment Complex in Kurashiki, Okayama
This listing presents a significant investment opportunity: a multi-building apartment complex located in the Tamashima district of Kurashiki City, Okayama Prefecture. The property consists of three separate apartment buildings situated on a single, expansive plot of land measuring 2,907.68 square meters. The complex offers a total of 40 units across the three structures. Building A was constructed in May 1972, is four stories high, contains 16 units of 3K layout, and has a total floor area of 730.29 square meters. Building B was also built in May 1972, is three stories high, contains 12 units of 3K layout, and has a floor area of 541.62 square meters. Building C was constructed in June 1976, is three stories high, contains 12 units of 3K layout, and has a floor area of 563.22 square meters.
Critical agent notes provide essential details. The property is equipped with propane gas, city water, a septic tank, private toilets, separate bath and toilet rooms, and a shower. Special notes on road access indicate it fronts a single public road to the north, which is 4.2 meters wide and paved, with a frontage of 32 meters. There is parking space for three or more vehicles, with one parking space provided free of charge. Importantly, while the land is designated as a "City Planning Area for Adjustment," reconstruction is possible. The transaction will be conducted "as-is" with a disclaimer of liability for non-conformities in the contract. Currently, 21 of the 40 units are under rental contract, leaving 19 vacant units available. Due to the septic tank system, maintenance and cleaning fees are required. Additionally, there are two water storage tanks on-site, necessitating water tank cleaning costs.
The property is located in Kurashiki, a city renowned for its beautifully preserved Bikan Historical Quarter, featuring white-walled storehouses and a picturesque canal area. This area is a major tourist attraction, drawing visitors to its traditional atmosphere and museums. The complex is approximately a 20-minute walk from Shin-Kurashiki Station on the Sanyo Main Line, providing regional rail access. This location offers investors a stable income-generating asset in a city with strong cultural appeal and steady tourism.
