Investment Opportunity: Two-Storey Apartment Building in Tsuyama, Okayama
This property is a two-storey, steel-framed apartment building constructed in September 2002, located in Shimotakakura, Tsuyama City, Okayama Prefecture. The building, named Shimotakakura Mount Cook Building A, offers a versatile investment opportunity with a current tenant in place. The total floor area is 106.92 sqm, distributed as 51.84 sqm on the first floor and 55.08 sqm on the second floor, situated on a 155.37 sqm plot of land.
Critical agent notes provide essential details. The property is equipped with propane gas, air conditioning, and a shower. For parking, each household has space for two cars in a tandem arrangement, with one parking space provided free of charge. The road access is to a 5.6-meter wide public road on the west side, with an 8-meter frontage.
As a revenue-generating property, the estimated monthly rent is 98,000 yen, yielding a high return rate of 19.6%. Currently, one unit is occupied. The building is highly flexible: it can be used as a two-family residence, or one unit can be rented while the other is for owner-occupancy. The detailed breakdown estimates rent at 45,000 yen per month for the first-floor 2DK unit and 53,000 yen for the second-floor 3DK unit, totaling 1,176,000 yen annually. Estimated annual costs are approximately 220,000 yen, covering electricity, septic tank management and cleaning fees (approx. 80,000 yen), property management fees at 5% (65,000 yen), and fixed asset tax (approx. 75,000 yen). Importantly, the property is located outside of flood hazard map designated areas.
