Property Overview: Etoile Kyomachi, a Multi-Unit Building in Okayama City
This property is a five-story, steel-framed multi-unit residential building located in the Kyomachi district of Okayama City, Okayama Prefecture. The building, known as Etoile Kyomachi, was constructed in February 1989 and offers a total floor area of 435.12 square meters on a land plot of 121.73 square meters. The building comprises multiple residential units, each with a 1K layout (one-room apartment with a kitchen area).
The property is currently tenanted, presenting an investor with an immediate income stream. The estimated yield is 9.08%, with an annual rental income of 6,990,000 yen. This is an owner-change (オーナーチェンジ) opportunity, meaning the new owner will inherit the existing lease agreements and rental income.
The building is equipped with propane gas, a sewage connection, and a hot water supply system. Each unit features a private toilet, a combined bathroom and toilet space, a shower, an indoor washing machine space, storage space, and a TV monitor-equipped intercom system.
It is important to note that the seller is exempt from liability for any defects in the property under the contract, as per the remarks (備考1). The property is located in a commercial zone with a building coverage ratio of 80% and a floor area ratio of 400%. The land is freehold (所有権).
The building is situated approximately a 3-minute walk (180 meters) from Higashi-Chuo-machi Station on the Okayama Electric Tramway Seikibashi Line, offering convenient access to public transportation.
