Investment Opportunity: Multi-Unit Apartment Building in Tsuyama
This listing presents a multi-unit apartment building for sale, known as "Corpo Takao," located in Tsuyama City, Okayama Prefecture. The property, built in January 1990, is a two-story steel-framed structure with a total building area of 601.67 square meters, housing 16 units. It sits on a substantial land plot of 1,222.64 square meters. The property is currently tenanted, generating a present annual income of 2 million yen, with a potential gross annual income of 5.96 million yen if fully occupied, translating to a current yield of 6.6% and a potential yield of 19.8%.
Critical agent notes have been provided. The Equipment/Facilities include: Propane gas, public water supply, septic tank, electricity, and separate bath and toilet. Important Special Notes/Remarks are: ① The property is sold 'as-is' in its current condition. ② Due to being vacant, some units are unrepaired. ③ Details on the detached house portion: Area: 1st floor 74.42㎡, 2nd floor 70.79㎡. Built: 1970. Structure: Two-story steel and wood frame with tile roofing.
The property includes one free parking space. It is situated in a non-divided urban planning area with no specific land use zoning, a building-to-land ratio of 60%, and a floor area ratio of 200%. The land is flat and located within a sediment disaster warning zone. The transaction is handled as an exclusive intermediary.
Tsuyama City offers a blend of historical charm and natural beauty in northern Okayama. An interesting local fact is that Tsuyama is home to Shurakuen Garden, a traditional Japanese landscape garden considered one of the three great gardens of the Chugoku region. The closest major landmark is the impressive Tsuyama Castle (Kakuzan Park), a reconstructed hilltop castle offering panoramic views and famous for its stunning cherry blossoms in spring.
