Investment Opportunity: 8-Year-Old Income-Generating Apartment Building in Naha's Shuri District
This recently listed investment property in Naha's Shuri Ishizaki-cho 2-chome presents a compelling opportunity for stable, long-term returns. The 8-year-old reinforced concrete (RC) apartment building is strategically positioned along a prefectural road, offering excellent accessibility. Its prime location places it just a 10-minute walk from the monorail's Ishizaki Station and a mere 1-minute walk from a bus stop, with a convenience store directly in front of the building. The property also features an on-site coin laundry facility, adding significant value for tenants.
According to the agent's special notes, a key feature of this property is the presence of solar power generation income. This provides an additional revenue stream on top of the rental income, enhancing the overall yield. The property is configured for mixed use, accommodating two commercial shop units and eight residential households, making it suitable for single occupants with separate bath and toilet facilities.
The financials are clearly outlined, with an annual income of 9,630,000 yen and a surface yield of 4.86%. The asking price is 198,000,000 yen. The building spans a total floor area of 447.47 m² (135.35 tsubo) on a land area of 448.45 m² (135.65 tsubo). It was built in September 2017, is located within an urbanization area zoned as Category II Residential, and has a building-to-land ratio of 60% and a floor area ratio of 200%.
The Shuri area is steeped in Okinawan history, most famously as the former seat of the Ryukyu Kingdom. The nearby Shuri Castle, a UNESCO World Heritage site, is a major tourist attraction and a symbol of the region's unique cultural heritage. The property's location combines this rich historical atmosphere with modern urban convenience, making it an attractive area for both residents and investors.
