Investment Opportunity: A Fully Occupied Apartment Building in Naha, Okinawa
This property presents a compelling investment opportunity: a revenue-generating apartment building located along Route 330 in Naha City's Kohagura 1-chome. The building, constructed in September 1968, is a reinforced concrete block (RCB) structure with a total floor area of 340.2 square meters on a land plot of 162.78 square meters. The layout consists of nine 1-room (1R) studio apartments and one commercial shop unit, currently in a fully occupied state. The projected annual rental income is 4,416,000 yen, which, based on the asking price, suggests a gross yield of approximately 7.6%. An additional revenue stream is available from separate solar power generation income. The fixed asset tax for the fiscal year 2025 (Reiwa 7) is noted as 109,856 yen.
According to the agent's notes, the property is categorized as an income-producing asset and is considered suitable for single occupants. No further specific remarks or equipment details were provided in the listing's '備考' section. The transaction is handled under a general brokerage agreement, and the property is situated within an urbanization promotion area zoned for commercial and residential use, with a building-to-land ratio of 80% and a floor area ratio of 300%.
The Kohagura area in Naha offers convenient urban living with excellent access to major thoroughfares. An interesting historical fact about Naha is that it was once the capital of the Ryukyu Kingdom, a thriving independent kingdom that engaged in extensive trade throughout Asia for centuries. The property is situated a short distance from the iconic Shuri Castle, a UNESCO World Heritage Site and the former palace of the Ryukyu kings, which serves as a major cultural landmark and tourist attraction for the prefecture.
