Investment Opportunity: One-Room Apartment in Morioka City Center
This property is a 23.52 m² studio apartment located on the 6th floor of a 10-story, 1-basement-level reinforced concrete building known as “Lions Mansion Morioka Uchimaru,” situated in the Uchimaru district of Morioka City, Iwate Prefecture. The building was constructed in October 1992 and offers a range of modern facilities. The unit features city gas supply, hot water, an indoor washing machine space, CATV and cable broadcasting, a balcony, a trunk room, storage space, an auto-lock system, a TV monitor intercom, security cameras, fire alarms, and external insulation construction. The exterior has tile cladding, and the building has a patrol manager for regular checks.
This property is currently tenanted and is being offered as an owner-change investment. The listed price is 3,730,000 yen. The management fee is 5,830 yen per month, and the repair reserve fund is 6,620 yen per month. The land rights are freehold. The property is being sold as an investment with a tenant in place, so the buyer cannot occupy it themselves. The yield is calculated based on the expected annual rental income relative to the property price, but this is before deduction of taxes and other maintenance costs, and it does not guarantee that the expected rental income will be obtained. The property is located within walking distance of the Iwate Prefectural Office (3 minutes), Morioka City Hall (3 minutes), the Uchimaru Medical Center (4 minutes), Morioka Castle Ruins Park (5 minutes), and the Odori shopping street (7 minutes). The nearest bus stop is a 4-minute walk, and JR Morioka Station is a 23-minute walk.
