Noriba Heights: A Well-Established Apartment Building Investment in Yame City
This listing presents Noriba Heights, a six-unit apartment building located in Yame City, Fukuoka Prefecture. The property is currently fully occupied, generating an annual rental income of 2,472,000 yen at full capacity, which translates to a surface yield of 14.1%. The building itself is a two-story wooden structure built in April 1984, with a total floor area of 268.3 sqm (approximately 81.16 tsubo). The land area is 393 sqm (approximately 118.88 tsubo). The property includes one free parking space.
Critical agent notes have been provided regarding the land and potential redevelopment. The property is situated on a corner lot. The road frontage details are: Southwest side, width 2.1m, public road. Important remarks state: "For rebuilding, an application under Article 43 proviso is required and permission is necessary. (For apartment buildings, up to 200 sqm). Furthermore, the eastern retaining wall is a structure over 2m in height, so safety confirmation is required at the time of rebuilding. There is a possibility that the cliff ordinance will apply."
The area of Yame City is renowned for its high-quality green tea production and traditional crafts like Yame lanterns. A notable nearby landmark is the Yame Central Tea Garden, one of Japan's leading tea-producing regions, offering scenic views and insights into the local agricultural heritage. The property offers convenient access, being just a 2-minute walk from the Fukushima High School Mae bus stop.
