Fully Renovated Apartment Building Investment in Moroyama, Saitama
This property is a fully renovated wooden two-storey apartment building located in Moroyama Town, Iruma District, Saitama Prefecture. The building comprises eight units, of which five are currently tenanted, generating a projected gross yield of 10.29% when fully occupied. The property sits on a 37.81 tsubo land plot and is being offered for sale as a used building with land in its current condition.
The renovation work, completed recently, covered both the exterior and interior. Exterior work included a three-coat paint finish on the outer walls, new door knobs and locks, new exterior privacy screens, new partitions for exterior rooms, painted doors, a new lockable mailbox, and new gravel in the garden. Interior unit renovations featured new flooring (CF), air conditioners, curtain rails, kitchen panels, kitchen faucets, refrigerator outlets, additional power outlets (with concealing covers), room ventilation fans, wallpaper (including ceilings), and replacement of 90% of switch panels and outlets. Bathroom units were updated with new CF flooring, wall panels, directly connected washlet toilets, shower faucets, toilet paper holders, towel racks, and new bathroom ventilation fans where needed. Lighting fixtures were also provided for each unit.
The location benefits from proximity to three universities, making it attractive for student tenants. Within a five-minute walk, there is a supermarket, a Nichigyo chain store, a post office, and convenience stores including Lawson, 7-Eleven, and FamilyMart. A 15 to 20-minute bicycle ride reaches larger supermarkets like Yaoko Nagase Store and Life Moroyama Store, as well as Cainz Moroyama and a local izakaya. The property is in a loan-eligible area and the seller is looking for a quick transaction.
