Investment Property in Okazaki City, Aichi Prefecture
This property is a leased land (借地) property located in Kuwabara-cho, Okazaki City, Aichi Prefecture. The building is a two-story wooden structure with a total floor area of 130.28 square meters on a land area of 915.61 square meters. The property is currently tenanted, generating a monthly rent of 60,000 yen. It is being offered for sale at 3.5 million yen (tax included).
The land lease agreement requires a monthly ground rent of 12,000 yen, which is paid by the current owner. The property is being sold as-is (現状有姿) based on the official registry (公簿売買). The building was constructed in 1977 and offers parking for three or more vehicles.
The current tenant has a DIY (do-it-yourself) agreement, allowing them to perform their own repairs and maintenance. As a result, the owner has incurred no repair costs since purchasing the property 2-3 years ago. The tenant moved in without any renovations, which allowed the rent to be set below the local market rate. The market rent for a detached house of this size in this area is estimated at 80,000 to 90,000 yen per month. After the tenant vacates and appropriate renovations are completed, there is potential to increase the rent. The property is located within a 15 to 20 minute drive to the city centers of both Toyota and Okazaki.
Please note that in addition to the monthly ground rent, there may be separate fees for name change procedures upon purchase and renewal fees at the end of the lease period. The property is available for immediate transfer.
