Investment Condominium in Minato Ward's Kaigan Area Offering High Yield and Convenience
This is a one-room investment condominium located in the Kaigan area of Minato Ward, Tokyo, offering both convenience and a high expected yield. The property is currently tenanted, ensuring immediate rental income. The unit is situated on the 4th floor of an 11-story SRC (steel-framed reinforced concrete) building constructed in April 1975. The exclusive area is 15.68 square meters (approximately 4.74 tsubo).
Key financial details include an asking price of 7.5 million yen, with monthly management fees of 7,500 yen and a monthly repair reserve fund of 4,300 yen. The annual projected rental income is 720,000 yen, resulting in a high projected annual yield of 9.6%. Other running costs include a monthly hot water base charge of 1,000 yen and a water base charge (currently borne by the tenant) of 1,800 yen. A one-time fee for the land lease contract name change is 55,000 yen (tax included). The land lease details involve a monthly ground rent of 62,820 yen with a lease period of 30 years.
The building is well-equipped with features including storage space, air conditioning, fiber-optic internet, an auto-lock system, a double-lock door, a dimple key, security cameras, a fire alarm, a corner room location, city gas, and an elevator (two or more elevators). It also has a parcel delivery box. The property is in a quasi-industrial zone. The transaction is handled as a general intermediary.
The Kaigan area of Minato Ward is a dynamic waterfront district known for its mix of modern high-rises and industrial heritage, undergoing significant redevelopment. It offers excellent access via the Yurikamome automated transit system, with the Shibaura-futo Station just a 6-minute walk away, providing stunning views over Tokyo Bay during the ride. A major nearby landmark is the iconic Tokyo Tower, a symbol of the city's post-war rebirth and a popular observation deck offering panoramic views, located just a short distance inland from the property.
