Olive Nishibori: A Modern Investment Apartment Building in Saitama
This property is the Olive Nishibori, a 12-unit apartment building located in Saitama City's Sakura Ward. Constructed in October 2018, this three-story wooden building offers a total floor area of 235.68 sqm (approx. 71.29 tsubo) on a corner lot with a land area of 139.24 sqm (approx. 42.12 tsubo). The building is currently fully occupied and generating rental income. Each unit is a 1K layout with a private area of 9.8 sqm.
Key features include a TV monitor intercom system. The property is situated on a corner lot with road frontage of approximately 13.2 meters on the northwest side (public road) and 6 meters on the southwest side (public road). It is within a 5-minute walk to a supermarket and a 10-minute walk to an elementary school. Access to public transport is provided by the JR Saikyo Line, with Minami-Yono Station a 14-minute walk away and Naka-Urawa Station an 18-minute walk.
Critical agent notes have been provided. The yield of 6.1% is calculated as the ratio of the annual rental income (including common area fees) to the sale price, before deducting taxes, public charges, and other necessary maintenance costs for the property. Furthermore, the estimated rent and assumed yield are calculated based on market rent, adding rent for vacant units to assume full occupancy. It is important to note that rental income is not guaranteed to be reliably obtained in the future. (Survey date: -). Additional notes state the property is within a height district (20m) and a Building Standards Act Article 22 area. It is currently tenanted, and the lease agreements are to be taken over by the new owner.
The area of Saitama City offers a blend of residential comfort and urban convenience. An interesting local fact is that Saitama City was formed in 2001 by the merger of Urawa, Omiya, Yono, and Iwatsuki cities, becoming a designated ordinance city and the capital of Saitama Prefecture. The closest major landmark is the historic Hikawa Shrine in Omiya, known for its long approach lined with towering cedar trees and its significance as one of the major shrines in the Kanto region.
