Investment Opportunity in Central Morioka: Owner-Change Apartment with High Yield
This property presents a compelling investment opportunity as an owner-change apartment located in the heart of Morioka City, Iwate Prefecture. The unit is a 1K layout with a wall-core exclusive area of 22.86 sqm (approximately 6.91 tsubo), featuring a 5.6-tatami mat Western-style room and a 2.86 sqm balcony with a southeast-facing exposure for primary sunlight. The building is a 10-story SRC (steel-reinforced concrete) structure, with this unit situated on the 2nd floor. It was constructed in July 1991 and is part of a 47-unit condominium complex known as Lions Mansion Morioka Chuo-dori.
Key financials highlight its investment appeal: the asking price is 2.78 million JPY, with an estimated annual rental income of 528,000 JPY, resulting in a surface yield of 18.99%. Please note that this yield calculation is based on gross annual rental income before deductions for taxes, public charges, and other necessary maintenance costs, and the projected rental income is not guaranteed. The property is currently tenanted, meaning it cannot be occupied by the purchaser for personal use in principle. Monthly fees include 12,000 JPY for management and 11,040 JPY for repair reserve funds.
The apartment is well-equipped with storage space, BS terminal, internet connectivity, an indoor washing machine space, an auto-lock with monitor, fire alarm (detector), city gas, hot water supply, and an elevator. Special notes on the building include: no building directly in front, tile exterior, out-frame construction method, and a distance of 2 meters or more to adjacent buildings. The management is fully entrusted to an association with a巡回 (rotating/patrolling) superintendent.
