Etowāru Shitobe AB Building: A Turnkey Investment Property in Tsuyama, Okayama
This property presents a compelling investment opportunity in the form of two identical apartment buildings, collectively known as the Etowāru Shitobe AB Building. Located in Tsuyama City, Okayama Prefecture, this turnkey asset consists of two light-gauge steel structures built in September 1993, each offering the same layout and floor area. The complex houses a total of eight residential units, comprising four 1LDK and four 2DK apartments, currently fully tenanted.
Critical agent notes, translated from the original Japanese, detail the property's specifications. The facilities include centralized propane gas, water supply, sewer system, air conditioning, hot water supply, electricity, separate bath and toilet, heated toilet seat with bidet function, shower, and an indoor space for washing machine placement. Special notes on road access specify a single-sided approach from a 4.4-meter wide, paved public road to the south. A key feature is the provision of free parking for three or more vehicles. Further remarks clarify this is an income-generating property. With full occupancy, the gross yield is calculated at 11.60%. The security deposit system is handled separately for each unit.
The property sits on a generous 555 sqm plot within a Category I Low-Rise Exclusive Residential Zone, with a building-to-land ratio of 50% and a floor area ratio of 100%. The land is flat and free from major legal restrictions under the National Land Use Law, situated in a general district of the Tsuyama City Landscape Plan.
Tsuyama City, part of Okayama Prefecture, is a historic castle town known for its beautiful spring cherry blossoms at Tsuyama Castle Ruins (Kakuzan Park), a major local landmark. The area offers a blend of traditional charm and modern convenience, making it an attractive location for residents. The property is positioned as a stable investment with clear income potential and practical amenities for tenants.
