Investment Opportunity: Leased House with Land Rights in Miura City
This property presents a unique investment opportunity as a leased house with land rights located in Miura City, Kanagawa Prefecture. The building is a two-story wooden structure built in November 1995, offering a total floor area of 111.76㎡ (approximately 33.8 tsubo) with a 4DK layout. The property sits on a measured land area of 214.97㎡ (approximately 65.02 tsubo). It is important to note that this is a building with leasehold rights (not ownership) and is currently tenanted, representing an owner-change transaction. The property is situated on a hill in a designated Category I Medium-to-High-Rise Residential Exclusive Zone within a urbanization promotion area, with a building-to-land ratio of 60% and a floor area ratio of 200%.
Key financial details include an asking price of 2.9 million yen. The property generates a projected annual rental income of 456,000 yen, resulting in a projected annual yield of 15.72%. The land is held under an old-law leasehold right with a monthly ground rent of 9,700 yen and a lease term of 20 years. The property faces a public road to the southeast with a frontage of 1.3m and a 2m public road setback. Parking is not available. The main exposure is to the south.
The area of Miura City is renowned for its stunning coastal scenery and fresh seafood. A notable nearby landmark is the scenic Misaki Port, a major fishing port famous for its tuna auctions. The Miura Peninsula offers a relaxed atmosphere with beautiful coastlines, making it a popular weekend destination for residents of the greater Tokyo area seeking a seaside escape.
