Investment Opportunity: Student-Only Apartment in Tottori City
This property is a used condominium unit located in Koyama-cho Nishi 1-chome, Tottori City, Tottori Prefecture. The unit is situated on the fourth floor of an 11-story, SRC (Steel Reinforced Concrete) building constructed in January 1991. The apartment offers a layout of one room (a studio) with a floor area of 19.72 square meters (approx. 5.96 tsubo) measured by wall center. It features a balcony and has a primary window facing southwest.
This is an owner-change property, meaning it is currently tenanted. The estimated annual rental income is 384,000 yen, yielding a projected gross return of 64.00%. The monthly management fee is 5,500 yen, and the monthly repair reserve fund is 11,832 yen. Parking is listed under "other" conditions.
A critical detail from the agent notes is that this condominium is exclusively for students of Tottori University. Only students enrolled at Tottori University are permitted to reside here. The unit has been upgraded from its original construction layout, which had a combined bathroom and toilet, to the more popular separate bathroom and toilet type. This renovation is already completed.
The property is located a 5-minute walk from Tottori-daigakumae Station on the Sanin Main Line, offering convenient access to the university. The land ownership is freehold. The building has a total of 110 units.
