Investment Opportunity in Iwaki City: A Multi-Unit Property Near Hisanohama Station
This property, located in the Hisanohama area of Iwaki City, Fukushima Prefecture, is a multi-unit residential building offered for sale. The asking price has been reduced to 15,500,000 Japanese yen. The building comprises four units, each with a 2DK layout, and the listing details are based on the 203号室 (Room 203) unit. The total land area is 487.31 square meters, and the total building floor area is 317.96 square meters. The building is a two-story wooden structure, constructed in August 1989.
The property is situated approximately a 6-minute walk from JR Joban Line's Hisanohama Station. The area is described as a quiet residential neighborhood with flat terrain, and the station is accessible via a level walk. The property faces south. The land rights are freehold (所有権). The building is connected to the public water supply and uses an individual septic system (個別浄化槽). The building coverage ratio is 60%, and the floor area ratio is 200%. The property is located in a Category 1 medium-to-high-rise residential zone (1種中高).
This is being sold as an investment property, with a reported gross yield of approximately 23.44% when fully occupied. The estimated annual income is 4,220,000 yen (approximately 352,000 yen per month). The property has a total of four units, each with a 2DK layout. The price was reduced from 19,900,000 yen (as of May 19, 2025) to 18,000,000 yen (as of June 3, 2025), and further to the current price. The property is available for purchase and the timing for handover is negotiable.
