Investment-Grade Apartment Building in Ginowan, Okinawa
This is a modern, fully-occupied 28-unit apartment building, presenting a compelling investment opportunity in Ginowan City, Okinawa. The property boasts a gross surface yield of 5.1%, with potential for future yield increases. A key feature is that all units are under fixed-term leases, allowing for anticipated rental rate adjustments upon renewal. The high occupancy rate, with all 28 units currently tenanted, significantly minimizes vacancy risk. The building's proximity to Okinawa International University contributes to its consistent, high demand, resulting in virtually no vacancy periods.
Constructed in April 2018, the building is in excellent condition. Notably, the roof waterproofing was completely redone in 2024 (Reiwa 6), ensuring the maintenance status remains superior. The property offers 25 parking spaces, making it particularly popular with single tenants. The layout consists of 28 separate 1K (one room with kitchen) units across the building. Building amenities include an auto-lock security system, elevator, and separate bath and toilet facilities in each unit. Pets are not permitted.
The property is situated in a designated urbanization promotion area under the First Category Mid/High-Rise Residential District zoning, with a building-to-land ratio of 60% and a floor area ratio of 200%. The land area is 512.83 sqm, with a total building floor area of 773.74 sqm. The structure is reinforced concrete (RC).
The location in Ginowan 1-chome offers convenient urban living. An interesting fact about the area is that Ginowan is home to the Okinawa Convention Center, a major venue for international events and exhibitions. The closest major landmark is the iconic Ginowan Seaside Park (Marine Park), a beautiful coastal park featuring walking paths, sports facilities, and stunning views of the East China Sea, popular with both locals and tourists.
