Investment Opportunity: L・SMARTWEST Apartment Building in Okayama City

This property, named L・SMARTWEST, is a two-story wooden apartment building located at 1-chome, Toyonari, Minami-ku, Okayama City, Okayama Prefecture. Built in February 2017, the building is less than 10 years old, offering a relatively new construction with reduced immediate maintenance concerns. The total land area is 317.85 square meters (approximately 96.15 tsubo), and the total floor area is 238.48 square meters (approximately 72.14 tsubo), comprising 105.99 square meters on the first floor and 132.49 square meters on the second floor. The layout features 2LDK units.

The property is currently tenanted, providing immediate rental income. The asking price is 56,400,000 yen, with an estimated annual income of 4,473,179 yen, achieving a gross yield of 7.9%. This combination of a relatively new building and strong rental income makes it an attractive investment. The location is convenient, being a 7-minute walk (500 meters) from the Toyonari bus stop on the Okayama Electric Bus line, providing easy access to central Okayama City. This area is expected to have stable rental demand from a wide range of tenants, from singles to families, supported by nearby daily amenities, which helps lower vacancy risk.

Key details from the listing include parking for three or more cars, available free of charge. The road frontage details are: to the north, a 6-meter wide road with 16 meters of frontage; to the west, a 5-meter wide road with 19 meters of frontage. The property is located in a Category 1 residential zone within an urbanization promotion area, with a building coverage ratio of 60% and a floor area ratio of 200%. The land is owned outright (ownership rights). As a 2017 build, the property still has time before major repairs are needed, and the depreciation period is long, making it suitable for tax planning and asset building.