Investment Opportunity: Saint-Germain Chūnagon Apartment Building in Okayama City
This property, Saint-Germain Chūnagon, is a multi-unit apartment building located in Naka Ward, Okayama City, offering a compelling investment opportunity with strong convenience and profitability. The building has a steel frame construction, stands six stories tall, and comprises a total of 21 residential units. The property features a layout of 1K units on floors 2 through 6.
The building is equipped with city gas, a public water supply, a septic tank, and side ditches. It includes a hot water supply system, an elevator, and a boiler-type hot water system. Each unit features a combined bathroom and toilet, a shower, an indoor washing machine space, security cameras, and a fire alarm system. A bicycle parking area is also provided for residents.
Located just a 1-minute walk from the Chūnagon Station on the Okayama Electric Tramway Higashiyama Line, the property offers excellent access to central Okayama City. The building faces a 15-meter wide public road to the south with a 5-meter frontage. The property sits on a 142.67 sqm plot of land with a total floor area of 548.51 sqm. It was built in March 1991 and is zoned for commercial use, with a building coverage ratio of 80% and a floor area ratio of 400%.
Financially, the property presents a strong investment profile. The assumed annual income when fully occupied is 8,576,400 yen, representing a gross yield of 9.5%. The current status is that there are some vacancies, offering a high degree of freedom for tenant recruitment. The price has been revised to 90,000,000 yen. This is an owner-change property with a current occupancy rate of 6.7%.
