Investment Opportunity: Three-Story Steel-Frame Apartment Building in Kochi City
This listing presents a three-story steel-frame apartment building located in Kochi City's Ichinomiya Nishimachi 3-chome, offering a significant investment opportunity. The property is currently undergoing an owner change and is positioned as a turnkey income-generating asset. The building, constructed in January 1979 (approximately 47 years and 3 months old), features a total floor area of 354.24 square meters on a land area of 328.00 square meters. It is situated in a Category 1 Medium-to-High Density Residential Zone within a urbanization promotion area.
Critical agent notes have been translated for full disclosure. The equipment/facilities are listed simply as a dash (-), indicating standard basic provisions. A special remark notes: "Other location: (20 pages J-5)", which may refer to additional documentation or a map reference available from the agent.
The property's financials are a key highlight. It currently has 10 of its 12 units occupied, generating a monthly rental income of 362,000 yen. At full occupancy, the projected monthly income rises to 482,000 yen, leading to an annual income of 4,344,000 yen currently and a potential 5,784,000 yen per year when full. The projected yield is an attractive 9.6%. The asking price is 60,000,000 yen, but the agent explicitly states that the price is negotiable, inviting potential buyers to inquire. The building includes parking for 8 vehicles. Important maintenance has been completed, including replacement of the septic tank pump, exterior wall painting, and roof repairs, though a detailed repair history is not provided.
The area of Ichinomiya in Kochi City is rich in history, being the site of the Tosa Ichinomiya, the primary Shinto shrine (Ichinomiya) of the former Tosa Province. The property offers convenient access, being a 16-minute walk from JR Tosan Line's Tosa-Ichinomiya Station and a 3-minute walk from the Taikobashi bus stop. A major nearby landmark is the iconic Kochi Castle, one of Japan's few original castles that has survived since the Edo period without reconstruction, located approximately 5 kilometers away and easily accessible by car or public transport.
