Bulk Sale Investment Property in Okayama City with High Asset Value
This is a bulk sale investment property consisting of a multi-unit residential building and an office, located in Minami Ward, Okayama City, Okayama Prefecture. The property is situated directly in front of Hosen High School in the Izumida 4-chome area. With a total land area of approximately 597 tsubo (1,976 sqm), it offers a favorable residential environment and high land asset value.
The property includes three separate buildings. The office building is a single-story wooden structure with a galvanized steel sheet roof, built in May 1986 (Showa 61), with a building area of 48.00 sqm and a total floor area of 48.00 sqm. The two residential buildings, named Granvia Hosen A and Granvia Hosen B, are both three-story steel-framed structures with concrete roofs, built in February 1996 (Heisei 8). Each has a building area of 145.35 sqm and a total floor area of 436.05 sqm. The combined total floor area for all three buildings is 879.7 sqm. The property is sold in its current condition, with a disclaimer for non-conformity with the contract.
The lot is a corner plot with road frontage to the south. It has a 7-meter-wide public road frontage with a total contact length of 24.5 meters. The land is flat and zoned as Category 1 Medium-to-High-Rise Exclusive Residential District within the urbanization promotion area. The building-to-land ratio is 60% and the floor area ratio is 200%. The property is currently tenanted, offering an estimated annual yield of 7.88% or approximately 12.6 million yen. Parking is available for 37 vehicles at a monthly fee of 5,000 yen per space.
The area is a well-established residential district in southern Okayama City. An interesting local fact is that Okayama is known as the 'Land of Sunshine' due to its consistently sunny and mild climate, which is ideal for growing the region's famous white peaches and Muscat grapes. The closest major tourist attraction is the iconic Okayama Castle, also known as 'Crow Castle' for its distinctive black exterior, located approximately 5 kilometers north in the city center.
