Flat K Shinkawa: A Prime Investment Apartment Building in Sapporo
This property, Flat K Shinkawa, is a three-story wood and reinforced concrete apartment building located in the Shinkawa Nijo 10-chome area of Kita Ward, Sapporo, Hokkaido. Built in September 1990, the building offers a total of 10 units, each featuring a 2LDK layout. The total building area is 568.83 sqm (approximately 172.07 tsubo), which includes a 100.15 sqm garage area on the first floor. The land area is 393.44 sqm (approximately 119.01 tsubo). The property is currently tenanted, and any sale would require the transfer of the existing lease agreements.
Critical investment notes provided by the agent have been translated: The yield percentage 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. It is important to note that rental income is not guaranteed to be reliably obtained in the future. (Survey date: March 5, 2026).
The property presents a compelling investment case. With 9 of its 10 units currently occupied, it generates an annual rental income of 4,869,600 yen, representing a current surface yield of approximately 9.7%. At full occupancy, the estimated annual rent rises to 5,488,800 yen, offering a potential surface yield of about 10.9%. The asking price is 50,000,000 yen. Building amenities include a TV monitor intercom system, and it is situated on a road with a frontage width exceeding 6 meters, specifically about 15.0 meters on the northwest side. Parking space is available, and utilities include LP gas for hot water and kerosene fan-forced stoves for heating.
The Shinkawa area of Kita Ward offers a balanced residential environment with excellent local amenities. An interesting fact about Sapporo is that it hosts the annual Sapporo Snow Festival, one of Japan's largest winter events, attracting millions of visitors to see spectacular ice and snow sculptures. The closest major landmark from this property is the historical and scenic Hokkaido Shrine (Hokkaido Jingu), a significant cultural site located within Maruyama Park, easily accessible from the city center.
