Spacious Investment Apartment Building in Central Okayama
This is a substantial 12-unit apartment building for sale in the desirable Bancho district of Okayama City. The property, named "Bancho Sanrakutei," was built in June 1989 and offers a significant investment opportunity with a total building area of 436.26 square meters (approximately 131.97 tsubo) on a land plot of 230.8 square meters (approximately 69.82 tsubo). The building is a four-story reinforced concrete (RC) structure, ensuring durability and low maintenance.
Key property features and equipment, as detailed in the agent notes, include city gas, water supply, sewer system, air conditioning, hot water supply, an elevator, separate bath and toilet rooms, heated toilet seats with bidet functions, BS satellite terminals, and an auto-lock security system for the entrance. Special notes on road access indicate the property fronts a single, paved public road to the north, with a generous road width of 9 meters and a frontage of 15 meters.
The building is currently fully tenanted, providing immediate rental income, and the sale is an owner-change transaction. The property is located within an urban planning area zoned as Category II Residential, with a building-to-land ratio of 60% and a floor area ratio of 200%. Parking is available on-site for a monthly fee of 10,000 yen per space.
The Bancho area is a central and well-established residential neighborhood in Okayama City, known for its convenience and accessibility. An interesting local fact is that Okayama is famously called the "Land of Sunshine" due to its exceptionally high number of sunny days each year. The property is within a 20-minute walk of the major transportation hub of Okayama Station, which provides access to the Sanyo Shinkansen bullet train. The closest major landmark is the iconic Okayama Castle, a historic black castle known as "Crow Castle" (Karasu-jo), and its beautiful adjacent Korakuen Garden, one of Japan's three great gardens, both easily accessible from this location.
