Investment-Grade Apartment Building in Naha City, Okinawa
This is a 21-unit apartment building located in the Hanatagawa 1-chome area of Naha City, Okinawa. Currently operating at full occupancy, the property offers a stable and attractive investment opportunity with proven cash flow. The building, constructed in March 2014 (12 years old), is a reinforced concrete (RC) structure with a total floor area of 992.67 m² spread across its multiple stories. The land area is 587.4 m², with an additional private road burden of 32.5 m². The property features separate bath and toilet facilities, air conditioning, an auto-lock security system, and an elevator, catering to both individuals and families.
Critical investment details from the agent's notes are provided. The annual rental income for the 2025 fiscal year was 18,600,000 yen. Additionally, the property generates annual electricity sales revenue of approximately 656,700 yen from installed solar panels. This combined income results in a surface yield of 4.81%. The seller has documentation such as property summaries and income calculation sheets (rent rolls) available for review. The listing agent encourages consultation, including discussions on financing.
Further details on the frontage road are specified: it is a private road (Hanatagawa 1-chome 385-26). The land category is public road, with an area of 65 m². The ownership share is 1/2, and the right is ownership. The property is situated in an urbanization promotion area with a First Category Medium-to-High-Rise Residential District zoning, allowing a building coverage ratio of 60% and a floor area ratio of 200%.
