Investment Opportunity in Naha with Panoramic Sea Views
This property presents a compelling investment opportunity in Naha City, Okinawa. Unit 402 in the "Corporas Shuri Yamagawa-dai" apartment building is currently tenanted, generating a monthly rental income of 70,000 yen, which translates to a surface yield of 8%. Priced in the 10 million yen range, this 3LDK apartment offers a spacious layout at a surprising price point. After the current tenant vacates, the unit can also be utilized as a personal residence.
The apartment boasts a generous 68.28 sqm (20.65 tsubo) of exclusive area. Key features include a separate bath and toilet, an L-shaped kitchen with a gas stove and water heater, air conditioning, heating, and an intercom system for security. Specific interior equipment includes a designated indoor washing machine space and a bay window. The unit is located on the 4th floor of a 7-story above-ground (plus 1 basement) reinforced concrete (RC) building with an elevator. It is a corner room with a wide balcony offering excellent views. The listing confirms the property has a view of the sea, good sunlight, excellent vistas, and is in a quiet location. All rooms are 6 tatami mats or larger. Pets are negotiable. One covered indoor parking space is available for a monthly fee of 7,000 yen.
The property is situated in Naha's Shuri Yamagawa-cho 1-chome. Transportation access is convenient, with the Monorail Gibo Station approximately a 16-minute walk away and the Yamagawa bus stop just a 1-minute walk. The building is noted to be close to Shuri Castle. The land is leasehold with a monthly ground rent of 12,000 yen (no name change fee upon purchase). The annual fixed asset tax for fiscal year 2025 is 68,700 yen. The building was constructed in October 1985, making it approximately 40 years old. The management fee is 6,900 yen per month, and there is no repair reserve fund. Handover can be arranged immediately.
The agent, Yoshizato Real Estate, emphasizes that the essence of real estate transactions is缘分 (fate/connection) and timing. They encourage potential buyers to call if they have even the slightest interest, stating that inquiries alone are also very welcome. They offer long-term support for clients' important real estate transactions. The agency is licensed for real estate sales/purchases, rentals, management, architectural design, auctions, and food service property transactions (Okinawa Prefectural Governor (3) No. 4339) and rental housing management (Minister of Land, Infrastructure, Transport and Tourism (2) No. 5165). Their contact details are: Address: 4-9-25 Chibana, Okinawa City, Okinawa Prefecture; Phone: 098-987-4019; Fax: 098-987-4091; Email: [email protected]; Line ID: yoshizato.f.
