Investment Opportunity: 10-Unit Apartment Building in Kitakyushu
This property is a two-story wooden apartment building constructed in July 1992, offering a total of 10 units. The layout consists of six 1K (one room with kitchen) units and four 2DK (two rooms plus dining-kitchen) units. The total land area is approximately 125.43 tsubo (414.65 m²), with a total building floor area of about 104.01 tsubo (343.84 m²).
Key equipment and facilities include propane gas and air conditioning. According to the agent's notes, the current occupancy status is as follows: one of the ten units is owner-occupied, four units are currently rented out, and the remaining units are vacant. This presents an immediate rental income stream with additional upside potential from filling the vacant units.
The building is located in the Kokurakita Ward of Kitakyushu City, Fukuoka Prefecture. The specific address is 13-16, Shimo-Itotsu 2-chome. It is conveniently situated just a 2-minute walk from the Kokura Kogyo High School Mae bus stop. The area is zoned as Category I Medium-to-High-Rise Exclusive Residential District under the city planning act.
The property is being sold as a complete building (ikkodate), representing a turnkey investment. The listing indicates an owner change is planned, with an estimated annual yield of 32.52% based on projected annual income of 3,252,000 yen. It is important to note that this yield calculation is before deducting taxes, public charges, and other necessary maintenance costs, and the projected rental income is not guaranteed.
The surrounding Kokurakita area is a vibrant part of Kitakyushu, blending urban convenience with historical charm. An interesting local fact is that the nearby Kokura Castle was the original intended target for the "Fat Man" atomic bomb in 1945; cloud cover over Kokura led to the diversion to the secondary target, Nagasaki. The area is also within reasonable distance of major attractions like the meticulously reconstructed Kokura Castle and the scenic Kawachi Wisteria Garden, famous for its breathtaking tunnels of flowering wisteria.
