Investment Opportunity: Multi-Unit Apartment Building in Kurashiki, Okayama
This listing presents a substantial investment property: a multi-unit apartment building (ikkodate mansion) for sale in the shipbuilding and industrial hub of Kurashiki, Okayama Prefecture. Built in December 1990, the complex consists of two reinforced concrete (RC) structures: Building A is 5 stories tall with a floor area of 427.15㎡, and Building B is 4 stories tall with a floor area of 529.76㎡. The total land area is a generous 614.47㎡. The property is currently fully tenanted, offering immediate rental income with a stated gross yield of 10.56%.
Critical agent notes provide a detailed breakdown of the property's facilities and ongoing expenses. The building is equipped with propane gas, municipal water supply, a septic tank, electricity, and a solar power generation system. A key feature is that the solar power system has a feed-in tariff (FIT) purchase agreement guaranteed until 2034, which generated an income of 752,267 yen in 2024. While a sewer connection is available, the property currently utilizes its septic tank system. Additional monthly and annual costs include: renting the adjacent east parking lot for 60,550 yen/month, water charges of 35,000 yen/month, regular cleaning fees of 31,460 yen/month, waste collection at 33,000 yen/month, an annual septic tank inspection/cleaning fee of 285,000 yen, a fire inspection cost of 4,583 yen, and fixed asset taxes for 2025 amounting to 631,900 yen.
Located in Kurashiki's Funaho district, the property offers excellent transport access near National Route 2 Bypass. The nearest major train station is Shin-Kurashiki Station on the Sanyo Main Line, approximately a 24-minute walk away. The area is part of Okayama Prefecture, known for its sunny climate, historical Kurashiki Bikan Historical Quarter with its iconic white-walled warehouses and willow-lined canals, and as the gateway to the art islands of Naoshima and Teshima. This apartment building represents a solid opportunity for investors seeking a cash-flowing asset in a strategically located regional city.
