Investment Apartment Building in Okayama City
This property is a multi-unit apartment building located in Higashihanazono, Kita-ku, Okayama City, Okayama Prefecture. The building, named Liberty 20, is a two-story wooden structure constructed in March 1990. It comprises a total of 20 residential units, each with a 1K layout featuring a loft. The total building area is 342.24 square meters, with the first floor covering 175.32 square meters and the second floor 166.92 square meters. The land area is 508 square meters.
The property is an owner-change (オーナーチェンジ) investment opportunity, meaning the current owner is selling while the building is tenanted. The listed price is 48,200,000 yen. It offers a surface yield of 12.17% based on current occupancy, with a potential surface yield of 15.54% and a net yield of 13.90% when fully occupied. The property is being sold in its current condition (現状有姿渡し), and the seller disclaims liability for any contractual non-conformity (売主契約不適合責任免責). A management company is designated.
Equipment and facilities in each unit include propane gas, city water and sewer connections, air conditioning, a hot water supply system, electricity, a separate bathroom and toilet, a heated toilet seat, a refrigerator, a loft, a TV monitor intercom, and bicycle parking. The property features a corner lot with two road frontages: a 6-meter wide public paved road to the east and a 4.4-meter wide public paved road to the north. Parking is available for 11 cars on-site and 3 cars off-site. The building's exterior was painted and common areas were renovated in June 2021. The property is situated in a quiet residential area.
