Investment Opportunity: 11-Unit Apartment Building in Okinawa City's Popular Miyazato Area
This property presents a compelling investment opportunity: a three-story apartment building with a total of 11 units (one commercial shop and ten 1DK apartments for single occupants) located in the sought-after Miyazato school district of Okinawa City. Currently fully occupied, this owner-change property offers an estimated annual rental income of approximately ¥3,912,000, translating to a gross yield of around 8.15%. The land spans a generous 390.4 sqm (approximately 118 tsubo) with a wide frontage, presenting potential for future redevelopment, such as constructing a new apartment building.
The building itself, constructed in June 1975 (50 years old), is a reinforced concrete block (RCB) structure with a total floor area of 314.12 sqm. It features three parking spaces. The layout consists of ten 1DK apartments, with slight variations between units. The first-floor commercial shop measures 24.5 sqm (approx. 7.4 tsubo). Pets are not permitted.
Special Notes/Remarks (Translated from Agent Notes): The fixed asset tax is ¥157,800. School District: Miyazato Elementary School is about 350m, a 7-minute walk. Miyazato Junior High School is about 920m, a 17-minute walk. Surrounding Facilities: Gakushu Jukensha Gazetto (cram school) is about 120m, a 2-minute walk. Miyazato Park is about 80m, a 1-minute walk. Miyazato Daiichi Park is about 230m, a 4-minute walk. Washimi Bridge bus stop is about 230m, a 4-minute walk. San-A Miyazato store is about 320m, a 6-minute walk. Daiso Okinawa Miyazato store is about 430m, an 8-minute walk. Kyouya Koza store is about 480m, a 9-minute walk. Nirai Sports Club is about 430m, an 8-minute walk. Deigo Nursery is about 490m, a 9-minute walk.
