Income-Generating Apartment Building with Retail Space in Kurashiki

This property, located at 1104-4 Matsushima, Kurashiki City, Okayama Prefecture, is a multi-building investment opportunity consisting of a 7-story reinforced concrete apartment building and a 2-story light steel frame retail building. The apartment building, built in July 2005, is approximately 20 years and 8 months old, while the retail building is approximately 25 years and 9 months old. The total land area is 1,636.31 square meters (approximately 494.98 tsubo), and the total building area is 2,475.99 square meters (approximately 748.99 tsubo). The property features a spacious site with parking for three or more cars, available free of charge.

The apartment building comprises 72 units in total: 60 one-room (1K) units and 12 one-bedroom (1LDK) units. The retail building includes one shop unit. The apartment building is equipped with an auto-lock system, a delivery box, air conditioning, an elevator, separate bath and toilet, indoor washing machine space, and internet connectivity. The property is located on a north-facing public road with a width of 18 meters. The annual rental income is projected at 59,780,000 yen (assuming full occupancy), representing a yield of 4.98%. This rental income includes the rent from the retail space.

The property is within a 6-minute walk from Nakasho Station on the JR Sanyo Main Line. The surrounding area includes shopping facilities such as Marunaka Muscat Store (229 meters away), and educational institutions like Kawasaki Medical School, Kawasaki University of Medical Welfare, and Kurashiki High School. The property is situated in a Category 2 residential zone with a building coverage ratio of 60% and a floor area ratio of 200%. The land is flat and the property is currently rented out as an owner-change property.