Investment Opportunity: Shonaiso B & C Apartment Building in Iizuka
Presenting Shonaiso B & C, a two-building apartment complex located at 355-75 Arii, Iizuka City, Fukuoka Prefecture. This investment property, built in May 1973, offers a total of five rental units across two separate wooden structures. Building B contains three 2DK apartments, while Building C contains two 2DK apartments. Notably, Building C currently has no tenants due to a halt in recruitment, presenting a potential opportunity for new ownership to fill these vacancies.
The property sits on a corner lot with detailed road frontage: 4.7 meters to the west, 3.8 meters to the northwest, and a 4.3-meter contact surface. The land area is a substantial 303.31 sqm (approximately 91.75 tsubo), with a total building floor area of 205.38 sqm (approx. 62.12 tsubo). The property is situated within a City Planning Area designated as a Category I Low-Rise Exclusive Residential Zone, with a building-to-land ratio of 50% and a floor area ratio of 80%.
Critical agent notes have been translated: The property does not have a sewer or septic tank system. The sale comes with a management condition, specifying that the management company must be Sanwa Estate Co., Ltd. The projected annual yield is 12.88%, based on an estimated annual income of 876,000 yen. It is important to note that this yield calculation is before deductions for taxes, public charges, and other necessary maintenance costs, and the projected rental income is not guaranteed.
The area offers convenient access, being approximately 150 meters from National Route 201 and within a 7-minute walk from the Shonai Toba bus stop. The surrounding neighborhood features numerous restaurants and shops. An interesting fact about Iizuka City is its deep historical connection to the Chikuhō region's coal mining industry, which fueled Japan's industrialization. For a major tourist attraction, visitors often explore the nearby Kawachi Wisteria Garden in neighboring Kitakyushu, famous for its breathtaking tunnels of vibrant wisteria flowers, though it is a seasonal destination best visited in late April to mid-May.
