City Court Taira: A Prime Investment Apartment Building in Urasoe
This listing presents City Court Taira, a multi-unit apartment building for sale in Urasoe City, Okinawa. The property is a five-story reinforced concrete block construction with a flat roof, built in February 1996, making it approximately 30 years old. It is situated on a generous land area of 1,416.62 sqm (428.52 tsubo) with a total floor area of 1,763.26 sqm (533.38 tsubo). The building is located near National Route 330, with the "Yomei High School Mae" bus stop approximately a 7-minute walk away.
Translated agent notes provide critical details. The property type is a whole-building apartment sale. The price is 420 million yen (including tax). The land rights are ownership, and the zoning is Category 1 Medium-to-High-Rise Exclusive Residential District, with a building coverage ratio of 60% and a floor area ratio of 150%. The road frontage is about 24m on an approximately 8m wide public road to the northwest.
The building consists of 29 units: 24 units with a 2LDK layout and 5 units with a 3LDK layout. Under a full occupancy assumption, the projected monthly rental income is approximately 2,000,000 yen, with an annual rental income of about 24 million yen, yielding a surface yield of roughly 5.7%. The current status is tenanted, with one unit currently vacant, and the property will be delivered in its present condition. Facilities include parking for 43 vehicles. Significant renovations were completed in July 2022 (Reiwa 4), including replacement of external water pipes, roof waterproof coating, and exterior wall painting, at a cost of approximately 15 million yen. The fixed asset tax for the 2025 fiscal year (Reiwa 7) is 1,651,400 yen.
The transaction conditions specify delivery in current state, transfer of ownership costs borne by the buyer, and survey costs borne by the seller. The transaction mode is intermediary, with a brokerage commission calculated as (Price x 3% + 60,000 yen) x tax.
The area of Urasoe is a bustling residential and commercial hub centrally located between Naha and the central Okinawan mainland. An interesting historical fact is that Urasoe was once the seat of the Ryukyu Kingdom before the capital was moved to Shuri in Naha. The closest major landmark is the Okinawa Prefectural Museum & Art Museum, a significant cultural facility showcasing Okinawa's unique history, ecology, and art, located just a short drive away.
