Elco Asahicho Condominium: A Compact Investment in Ube, Yamaguchi
This listing presents a one-room apartment for sale within the Elco Asahicho Condominium A Building, located in Ube City, Yamaguchi Prefecture. The property is currently tenanted, generating a steady monthly rental income of 23,000 yen, which translates to an impressive projected annual yield of 16.23%. The tenant's lease began in July 2024 (Reiwa 6) and is a two-year contract, providing immediate cash flow for the new owner. The unit is situated on the 4th floor of a 7-story reinforced concrete (RC) building constructed in February 1982.
The apartment offers a compact and efficient living space with a private floor area of 18.02 square meters (approximately 5.45 tsubo), complemented by a 2.5 square meter balcony. The building is well-equipped with amenities including an elevator, air conditioning for cooling and heating, storage space, and a bicycle parking area. Utilities include propane gas. The condominium complex comprises 41 units and is managed by a homeowners' association under a fully outsourced,巡回 (rotational/patrol) management system by the management company Gosha.
The property is conveniently located just a 9-minute walk from Ube-Shinkawa Station on the Ube Line, providing easy access to regional transportation. The area is zoned as a neighborhood commercial district. For prospective investors, it's important to note this is a general intermediary transaction. The property comes with defect insurance (瑕疵保険) and an inspection guarantee. All costs are detailed: a monthly management fee of 6,200 yen and a repair reserve fund of 3,400 yen apply. There is no dedicated parking space available with this unit.
Ube City, nestled in Yamaguchi Prefecture, is known for its rich industrial history and beautiful coastal scenery. An interesting local fact is that Ube was once a major coal mining hub, and its industrial heritage is celebrated at sites like the Ube City Coal & Science Museum. The city also offers access to natural attractions, with the iconic and historically significant Ruriko-ji Temple's five-story pagoda in nearby Yamaguchi City being a major cultural landmark and popular tourist destination.
