Investment-Grade Apartment Building in Popular Ishigaki City Location

This is a modern, nine-unit reinforced concrete apartment building located in the highly sought-after Tonoshiro district of Ishigaki City, Okinawa. Built in June 2019, the property is in excellent condition and has maintained full occupancy since its construction, demonstrating strong and consistent rental demand. The building offers a total floor area of 77.83 square meters and sits on a generous 240.84 square meter plot of land within a land readjustment area (provisional land exchange).

Critical financial details from the agent notes are as follows: The property generates a monthly income of 540,000 yen (6.48 million yen annually), yielding a gross rental return of 5.22%. Monthly expenses include a shared water faucet fee of 1,402 yen and a septic tank maintenance fee of 8,250 yen. All units are corner rooms, enhancing privacy and natural light. The property includes parking for four vehicles. The fixed asset tax for fiscal year Reiwa 7 is 297,294 yen, based on a government-assessed valuation of 29,332,701 yen for the land and building combined.

The building features a practical 1K layout, with separate bath and toilet facilities, and comes equipped with air conditioning. It is geared towards single occupants and includes a rent guarantee service for investor peace of mind. The land is zoned for Category 1 Residential use with a building-to-land ratio of 60% and a floor area ratio of 200%.

The property is situated in Ishigaki City, the vibrant commercial and transport hub of the Yaeyama Islands. The area is famous for its stunning beaches, world-class diving, and as the gateway to the pristine Iriomote Island. A major nearby landmark is the iconic Kabira Bay, renowned for its crystal-clear emerald waters, black pearl cultivation, and breathtaking scenic views, making it a UNESCO-recognized site and one of Japan's most picturesque coastal spots.