Investment Opportunity: Former Student Apartment in Kyoto

This property is a reinforced concrete, three-story building located in the Nishikyo Ward of Kyoto City, Kyoto Prefecture. Originally constructed as a student apartment, the structure contains a total of 15 units, each with a 1K layout. Fourteen of the units are six tatami mats in size, while one room is seven tatami mats. The building does not feature private baths; instead, it is equipped with shared shower rooms and shared toilets. The property is currently being utilized partly as storage and with one room under a rental agreement.

The building is situated within a five-minute walk from a station on the Hankyu Arashiyama Line, offering convenient access to central Kyoto. The listing suggests potential uses for the property include leasing individual units as storage space or operating a pet hotel. An estimated annual income of 1,800,000 yen is projected based on a monthly rent of 10,000 yen per room across all 15 units. Another possibility mentioned is demolishing the existing structure to develop the site for parking.

The land area is 126.07 square meters, and the total building floor area is 264.87 square meters. The property is classified as a land with an old building. It is noted that the property is a landlocked parcel and cannot be rebuilt on a standalone basis. However, the adjacent land has reportedly been acquired by a real estate developer anticipating a larger-scale development, and the value of this parcel is tied to that project. A right of way has been previously established through court proceedings. The property is being sold as-is, based on public registry records. The asking price is 12,000,000 yen, with negotiations possible depending on the timing. The building was constructed in July 1978.