Osakaya Building: A Prime Investment Apartment Building in Yokohama's Hinodecho
This commercial apartment building, known as the Osakaya Building, presents a compelling investment opportunity in the heart of Yokohama's Chuo Ward. Strategically positioned just a 1-minute walk from Hinodecho Station on the Keikyu Main Line and a 7-minute walk from Sakuragicho Station on the JR Keihin-Tohoku/Negishi Line, it offers exceptional access to two major train lines. The property is a steel-framed, 8-story building constructed in May 1979, with a total floor area of 626.24 sqm (approximately 189.43 tsubo) on a land plot of 116.88 sqm (approximately 35.35 tsubo).
Currently, the building is fully tenanted with all 8 units occupied as of March 2026. It has undergone significant renovation work, including skeleton construction, exterior wall repairs, rooftop waterproofing, elevator replacement, and the installation of a new auto-lock system, all completed in February 2020. The property is listed for sale at 398 million yen. The estimated annual rental income at full occupancy is 24,549,600 yen, suggesting a projected yield of 6.1%.
Critical Agent Notes (Translated from Japanese): The yield is the ratio of the annual rental income (including common area fees, etc.) to the sales price, and is calculated before deducting public charges and other expenses necessary to maintain the property. Furthermore, the estimated rent and estimated yield are calculated based on market rent, adding rent for vacant units to assume full occupancy. Rental income is not guaranteed to be reliably obtained in the future. (Survey date: as of March 12, 2026). Additional note: The property is currently tenanted (tenant lease agreement transfer required).
The surrounding area of Hinodecho and Sakuragicho is a vibrant part of central Yokohama, blending business and leisure. A major nearby landmark is the iconic Yokohama Landmark Tower, Japan's second-tallest building, located in the adjacent Minato Mirai 21 district. This area is famous for its futuristic skyline, shopping, museums, and the Cosmo Clock 21 Ferris wheel, making it a major tourist and business hub. The property's location in a commercial zone with 80% building coverage and 600% floor area ratio underscores its high-density, urban character.
