Investment Apartment Building in Kurashiki, Okayama
This property is a wooden apartment building located in Kurashiki City, Okayama Prefecture. Built in January 1965, the building sits on a land area of 564.77 square meters, approximately 170.84 tsubo. The total floor area of the building is 167.66 square meters, or about 50.72 tsubo. The property is a 2-story wooden structure with a total of 4 units. The land is under full ownership rights.
The property is situated in a Category 1 residential zone within an urbanization promotion area. The building coverage ratio is 60% and the floor area ratio is 200%. The site is flat and the land is classified as residential land. The property faces a public road to the east with a width of 2.6 meters.
Parking is available for three or more cars and is free of charge. The property is currently partially occupied, with three out of four units tenanted. The estimated gross yield for a fully occupied property is 15.5%, based on an assumed full occupancy rent of 1.86 million yen per year. The asking price is 12 million yen.
The property is located a 3-minute walk from Yayoi Station on the Mizushima Rinkai Railway. The nearest elementary school is Dai-Yon Fukuda Elementary School, 600 meters away, and the nearest junior high school is Fukuda Junior High School, 1,300 meters away. This property is being offered as an owner-change transaction.
