Compact Investment Apartment in Central Kagoshima
This property is a 1K apartment unit located on the 3rd floor of an 11-story condominium building named Fashion Heights Shiroyama 310 in Kagoshima City. The unit has a private balcony of 4.03 sqm with a southeast-facing orientation, providing good natural light. The building itself was constructed in June 1984 and features a steel-reinforced concrete (SRC) structure. It is equipped with an auto-lock security system, surveillance cameras, city gas, hot water supply, an elevator, and a bicycle parking area. The building is managed by a management association, though there is no full-time resident manager on-site.
The apartment is currently tenanted, generating a monthly rental income of 25,000 yen, which projects to an annual rental income of 300,000 yen and an estimated annual yield of 10%. The transfer of ownership is planned. The monthly costs for the owner include a repair reserve fund of 6,460 yen; there is no monthly management fee. The sale price is 3,000,000 yen. The interior floor area is 22.32 sqm (approximately 6.75 tsubo).
The location is highly convenient in central Kagoshima. It is a 6-minute walk from Takamibaba Station, served by both the Toso and Taniyama lines, and a 7-minute walk from Kajiyacho Station. The area offers daily necessities with a supermarket (Shiroyama Store Fresco Takamibaba) and a convenience store (FamilyMart Hiratabashi) within a few minutes' walk. The property is situated in a commercial zone. An interesting fact about the area is its proximity to the historic Satsuma domain's administrative center. The closest major landmark is the iconic Kagoshima Castle (Tsuru-ga-jo), a reconstructed castle standing on a hill with panoramic views of the city and Sakurajima volcano.
