Property Overview
This is a studio apartment located in a student-only condominium building in Koyama-cho Nishi 1-chome, Tottori City, Tottori Prefecture. The property is situated on the 8th floor of an 11-story reinforced concrete building constructed in January 1991. The unit has a floor area of 20.06 square meters and features a layout classified as a one-room studio. The balcony faces a southwesterly direction.
The apartment has undergone a renovation to upgrade the original layout, which previously had a combined bathroom and toilet, to a more popular separate bathroom and toilet configuration. The property is an owner-change (owner-change) listing, meaning the current owner is selling the unit while it is currently rented out. The annual planned rental income is 408,000 yen, with an expected gross yield of 42.94%.
Access is convenient, with Tottori University-mae Station on the Sanin Main Line just a 5-minute walk away. The management is handled by REM Inspection Co., Ltd., with a daily management presence. The monthly maintenance fee is 5,500 yen, and the monthly repair reserve fund is 12,036 yen. The land ownership is freehold, and the area is designated as a neighborhood commercial district. It is crucial to note that this property is exclusively for students of Tottori University; no other individuals are permitted to reside here.
