Investment Opportunity in Osaka: A Renovated 5LDK Duplex with Strong Rental Yield
This property presents a compelling investment opportunity in Osaka's Shijonawate City. It is a duplex-style house (連棟物件) with frontage on two sides (両面道路), offering flexibility for future redevelopment. Currently tenanted, it generates a projected annual rental income of 960,000 yen, translating to an attractive gross yield of approximately 9.79%. The property is priced at 9.8 million yen.
Detailed agent notes reveal significant renovations. The eastern unit was updated in July 2019 (令和元年7月), including replacement of the toilet unit, wall coverings, and flooring; installation of new bathroom panels and underfloor sheeting; a new kitchen and range hood; replacement of the water heater; and refurbishment of the dining area, laundry sink, and vanity. A first-floor Japanese-style room was converted to a Western-style room. The western unit also had its water heater replaced in July 2019, its balcony corrugated sheets replaced in May 2021 (令和3年5月), and its toilet unit replaced. In 2022, preventative leak-proofing was performed with internal corner caulking on the balcony.
The house itself is a two-story wooden structure built in March 1967, with a total floor area of 84.44 sqm (approximately 25.54 tsubo). The layout is a spacious 5LDK, comprising four Japanese-style rooms (6, 6, 4.5, and 4.5 jo) and one Western-style room (6 jo), plus a combined living-dining-kitchen area of 9 jo. The registered land area is 76.75 sqm (approx. 23.21 tsubo), located in a Category I Medium-to-High-Rise Residential Zone. Ownership is freehold.
The area offers convenient daily amenities, but for a notable landmark, residents can easily access the historic Shijonawate Shrine, a site with deep local heritage. An interesting fact about Shijonawate City is that it is historically linked to the samurai Kusunoki Masatsura, and the city's name is derived from the four (shi) ridges (nawate) that characterize its terrain.
