Income-Generating Reinforced Concrete Apartment Building in Okayama City
This property is a six-storey reinforced concrete apartment building located in the Kita Ward of Okayama City, Okayama Prefecture. The building comprises a total of 22 residential units and is being offered as a owner-change investment opportunity, with the current rental income providing a yield of approximately 8.94% and an annual rent of 17,710,000 yen. The building sits on a land area of 661.17 square meters, and the total floor area of the building is 1,428.25 square meters. The building was constructed in February 1987.
The property includes one free parking space. The building is equipped with an elevator. The road frontage is to the north, with a width of 6 meters on a public road, and the property has a frontage of 31 meters. The land is rectangular in shape and flat. It is located in a commercial district within an urbanization promotion area. The building coverage ratio is 80%, and the floor area ratio is 200%. The land is owned outright (freehold title).
Regarding special notes from the listing, there is a possibility that the first-floor area differs from the registered area on the official registry, which may result in an exceedance of the permitted floor area ratio. The property is offered with the condition that the current management company contract will be continued. Additionally, there is an annual income of 1,500 yen from a utility pole site lease, which is not included in the rent roll.
