Investment Apartment Building in Narita, Chiba
This property is a nine-unit apartment building named Minamidaira Apartments, located in Narita City, Chiba Prefecture. The building was constructed in September 2019, making it a relatively new investment. It is a two-story wooden structure with a total building area of 183.08 square meters (approximately 55.38 tsubo) situated on a land area of 194.18 square meters (approximately 58.73 tsubo).
Access to the property is provided by two nearby train stations: JR Narita Line's Narita Station is a 15-minute walk away, and Keisei Electric Railway's Keisei Narita Station is a 16-minute walk. The property is within an urbanization promotion area and is zoned as a Category I Low-Rise Exclusive Residential District. The building coverage ratio is 60% with a floor area ratio of 150%. The land is classified as residential land and has a slight slope.
Critical agent notes provide essential investment details. The property is currently fully tenanted, and the buyer must take over the existing lease agreements. The notes clarify that the indicated yield is calculated based on the annual rental income (including common area fees) against the sale price, before deducting taxes, public charges, and other necessary maintenance costs. The assumed rent and yield are calculated based on market rates, adding potential rent for any vacant units to simulate full occupancy. Importantly, the notes state that future rental income is not guaranteed. The property's access road situation is detailed: it fronts a 4-meter wide private road to the southeast, with a frontage of 7 meters, and has a designated location permit.
