Historic 1947 Post-War Home in Wakayama with High Rental Yield Potential
This unique property, built in March 1947, is a spacious wooden two-story house located in Hinata, Kainan City, Wakayama Prefecture. The property offers a substantial floor area of 160.32 sqm (approximately 48.49 tsubo) arranged in an 8DK layout, situated on a land plot of 135.22 sqm (approximately 40.9 tsubo). The building was previously used as a chiropractic clinic, indicating its suitability for continued use as a commercial tenant space. A key feature is the potential to remodel the left side of the first floor into a garage, which would allow parking for one light vehicle.
Special notes from the agent provide crucial details. There is a storehouse (kura) directly behind the building that belongs to a different landowner, not the owner of this property. The wall is very close, making the structures appear like row houses, but they are not physically connected. The exact date of construction is not recorded in the registry, so the date of the first user's gift acquisition is listed instead. The property is currently vacant, and the handover timing is negotiable. The annual projected rental income is 480,000 yen, yielding a high projected annual return of 106.66%.
The area of Hinata in Kainan City offers a blend of coastal and historical charm. Kainan City is part of the Arida region of Wakayama, known for its citrus fruit production. The property is within a 10-minute walk from Kainan Station on the Kisei Main Line, providing rail access. A notable nearby landmark is the historic Kishu Toshogu Shrine, a beautifully decorated shrine dedicated to Tokugawa Ieyasu, located a short drive away and offering a glimpse into the region's samurai heritage.
