Investment Opportunity: Renovated 3DK House in Yokohama's Midori Ward
This property is a two-story wooden detached house built in June 1983, located in Terayama-cho, Midori Ward, Yokohama City, Kanagawa Prefecture. The total floor area is 53.82 sqm (approximately 16.28 tsubo) with a 3DK layout consisting of one Japanese-style room (6 tatami mats) and two Western-style rooms (each 6 tatami mats). The land area is 44 sqm (approximately 13.31 tsubo) with an additional private road area of 179.06 sqm. The property is currently tenanted, ensuring immediate rental income upon purchase. The projected annual rental income is 768,000 yen, offering a high projected annual yield of 10.24%.
Critical agent notes must be highlighted: The property does not front a road as defined by the Building Standards Act, meaning it is NOT eligible for rebuilding. It is a row-house style (連棟式) building. The sale is 'as-is' (現況渡し), and the seller's liability for non-conforming contracts is exempt. The property is located in a Category I Low-Rise Exclusive Residential Zone with a building-to-land ratio of 50% and a floor area ratio of 100%. Parking is available.
The area offers convenient daily living with shopping facilities like Maibasuketto Nakayamacho Store and Maruetsu Shikinomori Foreo Store within a 1.2km radius. The property is a 13-minute walk from both the JR Yokohama Line's Nakayama Station and the Yokohama Municipal Subway Green Line's Nakayama Station, providing excellent access to central Yokohama and Tokyo. An interesting local fact is that Midori Ward is home to the expansive Negishi Forest Park, a former horse-racing track area transformed into a vast public green space. The closest major tourist attraction is the historic Sankeien Garden in southern Yokohama, a beautiful traditional Japanese garden showcasing historic buildings relocated from across Japan.
