Investment Property in Nagoya's Mizuho Ward: A Multi-Unit Building Near Horita Station

This reinforced concrete, three-story building is situated in the Naechō neighborhood of Nagoya's Mizuho Ward. The property comprises 16 one-bedroom (1K) residential units and two commercial shop spaces, offering a total floor area of 552.8 square meters on a land plot of 400.27 square meters. Constructed in October 1991, the building is currently tenanted, with 17 out of 18 total units occupied as of the survey date of May 24, 2026.

The property is presented as an owner-change (オーナーチェンジ) investment opportunity, meaning the existing lease agreements will be transferred to the new owner. As the units are occupied, interior inspections are not possible, and the listed floor plans may differ from the current state. The current annual rental income is 13,111,500 yen, representing a yield of approximately 6.72%. At full occupancy, the projected annual rental income is 13,615,500 yen, with a projected yield of 6.98%. These yield figures are calculated as the ratio of annual rental income (including common area fees) to the sale price, and do not account for property taxes, maintenance, or other operating expenses. Future rental income is not guaranteed.

The location benefits from excellent access to public transport, being a one-minute walk from Horita Station on the Nagoya City Subway Meijō Line and a five-minute walk from the same station on the Meitetsu Nagoya Main Line. The neighborhood offers various conveniences, including a supermarket within an eight-minute walk and a convenience store just one minute away on foot. The property is located on a lot with approximately 50 meters of frontage onto a public road to the west, and falls under a mixed zoning designation of neighboring commercial and first-class residential areas.