Charming Terrace House Investment in Otaru, Hokkaido
This property is a well-maintained 1977-built wooden terrace house located in Otaru's Wakadake-cho district. The house offers a spacious 4LDK layout across two floors, with a total building area of 99.63㎡ (approx. 30.13 tsubo). The land area is 140.98㎡ (approx. 42.64 tsubo), though it's important to note that a 51.97㎡ portion of this land is a half-share ownership. The property is currently tenanted, providing an immediate rental income stream, with projected annual rental revenue of 528,000 yen and an estimated gross yield of 12.87%.
Key equipment and features of the house include built-in closets, FF (fan-forced) heating, propane gas supply, and electricity. Special notes from the agent clarify that the annual fixed asset tax and city planning tax are a low 21,000 yen. The property is situated on a flat plot in a First Category Residential Zone (Neighborhood Commercial District) within a City Planning Area, with a building-to-land ratio of 80% and a floor area ratio of 200%. Road frontage is to the west on a 5m-wide private road, with a 2m setback.
The location is highly convenient, just a 5-minute walk from JR Otaru Chikuko Station on the Hakodate Main Line. The surrounding area of Otaru is famous for its picturesque canal, historic stone warehouses, and glassworks, offering a unique blend of history and coastal scenery. An interesting local fact is that Otaru was once the financial center of Hokkaido in the early 20th century, leading to the construction of many elegant Western-style buildings that still stand today. The closest major landmark is the iconic Otaru Canal, a beautifully preserved waterfront area lined with old warehouses that is a major draw for tourists year-round.
