Apartment Building Investment Opportunity in Naha's Yogi District

This apartment building, located in the Yogi district of Naha City, Okinawa, presents a compelling investment opportunity with a projected gross annual yield of 6.80% at full occupancy. The property boasts a total land area of 224.91 square meters and a building area of 293.35 square meters. Constructed in January 1990 with a reinforced concrete block (RCB) structure, the building is situated within an urbanization promotion area zoned for First Category Medium-to-High-Rise Residential use.

The residential portion of the building is configured as a 4LDK layout spread across the first and second floors, with a toilet on each level, making it suitable for living or as a rental investment. The location offers excellent access near National Route 330 and is within walking distance of elementary and junior high schools. A critical note from the agent specifies that all ownership transfer costs are to be borne by the buyer. Furthermore, the agent remarks that as the first floor is currently vacant, the stated yield is a projected figure based on full occupancy, with a potential monthly income of 295,000 JPY and an annual income of 3,540,000 JPY when fully tenanted.

The Yogi area is a well-established residential part of Naha. An interesting historical fact about Naha is that it was once the capital of the Ryukyu Kingdom, a thriving independent kingdom that engaged in extensive trade throughout Asia. The property is conveniently located not far from Shuri Castle, a UNESCO World Heritage Site and the former royal palace of the Ryukyu Kingdom, which stands as a major tourist attraction and a stunning symbol of Okinawa's unique cultural heritage.