Investment Apartment Building in Okayama City
This property is a two-story, light steel-framed apartment building located in Fukunari, Minami Ward, Okayama City, Okayama Prefecture. The building, named "Sundisk Subaru," offers an investment opportunity with existing rental income. It has a total of 14 units, currently with 13 occupied, indicating a high occupancy rate. The building layout is 2DK, with individual unit sizes ranging from 35.51 sqm to 50.81 sqm.
The total building area is 557.08 sqm (approximately 168.51 tsubo), situated on a corner lot with a land area of 943.26 sqm (approximately 285.33 tsubo). The property was built in July 1988. The asking price is 89,000,000 yen. The estimated annual rental income at full occupancy is 6,545,232 yen, yielding a projected capitalization rate of 7.3%. The current monthly rental income (including common area fees) is approximately 550,636 yen per month across all occupied units, with a current yield of about 6.9%.
Special Notes/Remarks: The yield is the ratio of annual rental income (including common area fees, etc.) to the sales price, 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 and assuming full occupancy. Rental income is not guaranteed to be reliably obtained in the future. (Survey date: As of February 1, 2026). Additional remarks: [Building I] 1F: 176.92 sqm, 2F: 176.92 sqm, 3DK, currently leased (tenant lease agreement transfer required). City gas pipes are buried under the road in front of the property.
The property is situated on a corner lot facing southeast and northeast, with road frontage of approximately 8 meters (public road) on the northeast side and approximately 6 meters (public road) on the southeast side. The neighborhood offers convenient amenities, including a supermarket (Fresh Market Kimura Fukunari Store) within a 10-minute walk, a park within a 3-minute walk, and a convenience store (7-Eleven) within a 6-minute walk. Access is via bus from the JR Sanyo Main Line Okayama Station, taking 45 minutes to the Fukuda bus stop, followed by a 9-minute walk.
