Investment Opportunity in Tsuyama: Fully Renovated Two-Storey Apartment Building
This property presents a turnkey investment opportunity in Tsuyama City, Okayama Prefecture. It is a two-storey, wood-framed apartment building built in October 1982, offering a total floor area of 54㎡ across its two levels. The layout is configured as a 3DK, providing functional living space. The property is currently tenanted, generating an annual income of 600,000 yen, which translates to a surface yield of 12%. This is an owner-change property, meaning it is being sold with existing tenants in place.
Critical agent notes have been translated for full disclosure. The equipment and facilities include city gas, tap water, a septic tank, and separate bath and toilet areas. Important special notes must be considered: the property is located within a landslide warning area. On a positive note, it underwent a full renovation in June 2020. Regarding parking, there is space for one car at no extra cost; however, the agent remarks that the parking space is compact and cannot accommodate large vehicles. The road access details specify it fronts a one-way private road to the northwest, with a road width of 4 meters and a frontage of 2 meters.
The land area is 59.03㎡ and is located in a Category II Medium-to-High-Rise Residential Exclusive Zone. The building-to-land ratio is 60% with a floor area ratio of 200%. The terrain is flat. The property is offered for sale under a general brokerage arrangement.
Tsuyama is a historic castle town in northern Okayama, known for its beautiful spring cherry blossoms at Tsuyama Castle (Kakuzan Park), a major local landmark. The area is part of the scenic Chugoku region, offering a blend of traditional culture and natural beauty, with easy access to the hiking trails of the Chugoku Mountains.
