Investment Apartment Building in Okayama City

This is a multi-unit apartment building located in Shimo-Ikku, Kita-ku, Okayama City, Okayama Prefecture. The property is a three-story wooden structure built in March 2020, comprising six residential units. Each unit is a 1DK layout with a dedicated area ranging from 30.7 square meters to 30.92 square meters. The total building floor area is 213.57 square meters, situated on a land plot of 160.89 square meters. The property is currently tenanted and being sold as an owner-change (オーナーチェンジ) investment opportunity.

The current monthly rental income is 392,600 yen, yielding an approximate return of 6.04% as of February 2026. The estimated annual rental income at full occupancy is 4,711,200 yen, with a projected yield of 6%. Please note that the yield is calculated as the ratio of annual rental income (including common area fees, etc.) to the sale price, before deducting property taxes and other necessary maintenance costs. The estimated rent and yield are based on market rent levels and assume full occupancy by adding rent for any vacant units. Rental income is not guaranteed to be obtained reliably in the future. The property is currently under a lease agreement which must be taken over by the new owner.

The property is located approximately a 10-minute walk from Bizen-Mikado Station on the Kibi Line and a 15-minute walk from Okayama Station on the Sanyo Main Line, offering access to two or more railway lines. The surrounding neighborhood includes a supermarket within a 10-minute walk, an elementary school within a 10-minute walk, and various other conveniences. The site fronts a public road of approximately 7.4 meters to the east. The building coverage ratio is 60%, and the floor area ratio is 200%. The land is zoned as a Category 1 Residential District within an urbanization promotion area. The property features parking and is situated on a road with a width of 6 meters or more.