Large-Scale Investment Opportunity: 32-Unit Apartment Building with Land in Urasoe City
This listing presents a substantial real estate investment package in Urasoe City, Okinawa. The offering is a set sale comprising a large 32-unit family-type rental apartment building situated on 634 tsubo of land, bundled with an additional 1,142 tsubo of underlying land (shita-ji). This creates a single, contiguous plot totaling 1,776 tsubo (approximately 5,874.65 square meters).
According to the agent's special notes, the individual market value of the apartment building is 770 million yen, and the underlying land is valued at 300 million yen, summing to a total of 1.07 billion yen. However, this package is being offered at a discounted set price of 880 million yen. The property generates significant rental income: the apartment building yields an annual rent of 31.86 million yen, while the underlying land provides an additional 2.96 million yen per year, resulting in a combined annual rental revenue of 34.82 million yen. A notable feature highlighted in the remarks is that there is potential to plan for the resale of the underlying land to apartment construction companies or similar entities.
The property itself is a reinforced concrete (RC) structure built in April 2013, making it approximately 12 years old. The total building area is 1,851.68 square meters (560.13 tsubo). It is located in the Uchima 4-chome district of Urasoe City within an urbanization promotion area zoned as Category 1 Medium-to-High-Rise Residential. The land rights are ownership, and the transaction method is exclusive agency.
