Property Overview: Green Hills Edamitsu
This is a multi-unit apartment building located in Miyata-cho, Yahatahigashi-ku, Kitakyushu City, Fukuoka Prefecture. The property is an apartment building with a total of 13 residential units. Each unit has a floor area ranging from 54 sqm to 63 sqm, and the layout is 3LDK. The building was constructed in March 1991 and is a six-story reinforced concrete structure. The total building floor area is 926.84 sqm, and the land area is 478.17 sqm. The property is currently rented out.
Regarding the financials, the current annual rent is 7,200,000 yen, yielding a current return of 8.5%. The assumed annual rent when fully occupied is 9,000,000 yen, with an assumed yield of 10.7%. Please note that the yield is calculated as the ratio of the annual rental income (including common area fees, etc.) to the sale price, before deducting public taxes and other costs necessary for maintaining the property. The assumed rent and yield are calculated based on the rental market and assuming the property is fully occupied, including rent for vacant units. It is not guaranteed that rental income will be obtained in the future.
The property is a 8-minute walk from Edamitsu Station on the Kagoshima Main Line. It is situated in a first-class residential zone with a building coverage ratio of 60% and a floor area ratio of 200%. The land is owned in fee simple and the zoning is urbanization area. The property includes parking.
