Investment Property in Kagoshima City with Renovation Potential
This property is an ongoing renovation investment opportunity located in Kagoshima City, Kagoshima Prefecture. The seller is looking for someone to take over the project, as they have been unable to find the time to complete it themselves. The current yield is 18.92%, and the seller suggests that after renovation, the yield could exceed 50%. The monthly rent collected is 94,600 yen, with three out of ten rooms currently occupied and no planned move-outs in the near future.
Four rooms are in the middle of renovation, with unused unit bathrooms already installed in these four rooms. The property requires further renovation work, including repairs to the stairs and roof. The land area is 1,234.94 square meters, and the building has a total floor area of 328.52 square meters. The structure is made of wood. There is parking for ten cars, and the land alone is estimated to be worth approximately 15 million yen if cleared.
The property is located in Sakamoto-cho, Kagoshima City, about an eight-minute drive from Kagoshima City Hall. The surrounding area is a quiet residential neighborhood where new construction is common, indicating convenience. The transaction will be conducted on an as-is basis and as a public record sale.
