Investment Opportunity: A Studio Apartment in Okayama City
This property is a studio apartment located in the Nodaya-cho area of Kita-ku, Okayama City. The unit offers a compact living space of 20.64 square meters, suitable for a single occupant. The building is a 10-story reinforced concrete structure, and this particular apartment is situated on the 3rd floor. It was constructed in November 1990.
The apartment is currently tenanted, and the lease agreement will need to be taken over by the new owner. The estimated annual rental income is 420,000 yen, based on market rates for a fully occupied unit. The projected gross yield is 8.9%, calculated as the annual rental income (including common service fees) divided by the sale price, before deducting taxes and other property maintenance costs. It is important to note that this is an estimate and does not guarantee future rental income.
The property features an auto-lock system for security and a delivery box for packages. The apartment is a corner unit, offering a degree of privacy. The balcony measures 3.52 square meters. The monthly management fee is 6,100 yen, and the repair reserve fund is 5,780 yen. There is no parking space available. The building has a total of 39 units.
The location is convenient, with the "Yanagawa" station on the Okayama Electric Tramway Higashiyama Line just a 3-minute walk away. The JR "Okayama" station on the Sanyo Main Line is a 10-minute walk from the apartment. This provides access to two different train lines. The neighborhood is well-served by amenities, with a supermarket approximately 8 minutes away on foot and a convenience store just a 1-minute walk from the property.
