Investment Property Near Kiryu University: A 10-Unit Apartment Building in Gunma Prefecture
This property is a two-story wooden building with a cement tile roof, located in Kiryu City, Gunma Prefecture. The building comprises a total of ten units, each designed as a 1K layout with approximately 25.7 square meters of floor space. The total land area is 310.74 square meters, and the total building area is 258.02 square meters. The property is being sold as a land with an old building, in its current condition and based on the official registry.
Three of the units have been renovated, six have been restored to their original condition, and one unit remains unconfirmed. The building features separate toilets and bathrooms. Each room is spacious, measuring over 25 square meters, and the rooms receive good sunlight. There is ample bicycle parking space. The front road is a public municipal road, but its width is only about 2.3 to 2.5 meters.
The property is located approximately a 7-minute walk from the Kiryu Campus of Gunma University's Faculty of Engineering. It is currently being advertised for rent, with one room already occupied. The seller originally acquired the property from a real estate company when all units were vacant. The seller now lives in Tokyo and is unable to return to Gunma, hence the decision to sell. The asking price is 10,000,000 yen, inclusive of tax. A guaranteed option is available for 16,000,000 yen, which would guarantee 80% of the rent for a two-year period assuming full occupancy, resulting in a 13.5% yield.
