Hotel Condo VIVO VIVA Ishigaki Island B Building: A Studio with Ocean Views
This property is a studio unit within the Hotel Condo VIVO VIVA Ishigaki Island B Building, offering a unique investment and lifestyle opportunity on the scenic island of Ishigaki. The unit boasts a private owner's locker and is part of a hotel-condominium operation, meaning it comes with a pre-established "Condo Hotel Lease Agreement" and "Asset Management Business Entrustment Contract." These contracts cannot be terminated as the premise of the property is hotel operation. Rental income generated under the hotel lease agreement is variable and not guaranteed after purchase. When the owner stays in the unit, a usage fee will apply.
The studio features a generous exclusive floor area of 56.40 square meters (approximately 17.06 tsubo) and includes a 16.80 square meter balcony, providing ample space to enjoy the panoramic ocean views that overlook the neighboring Taketomi Island. The building is a 3-story reinforced concrete structure completed in January 2024. The unit comes fully furnished with hotel-specified furniture. Facilities include a drum-type washing machine. The broader condominium hotel complex offers extensive amenities such as a restaurant, a water garden, a gym room, a spa room, a shop, and a poolside bar. There is parking available for 59 cars.
Regarding utilities, the electricity is provided by Okinawa Electric Power Company. The gas system is a centralized LP gas setup, water is supplied by the public waterworks, hot water is provided by a gas water heater, and drainage/sewage is handled by a centralized purification tank.
The monthly running costs are detailed and total 50,170 yen. This includes building and complex management fees, repair reserve funds for both the building and complex, a hotel operation management fee, and an asset management business fee. Other one-time costs at purchase include a contract stamp duty of 30,000 yen and an agency commission of 2,739,000 yen. Additional ongoing costs like property taxes and acquisition taxes will also apply.