Property Overview: Owner-Change Building in Nagoya's Mizuho Ward
This property is a two-storey wooden building located in Funahara-cho, Mizuho-ku, Nagoya City, Aichi Prefecture, being sold as a land-with-building transaction in its current condition. It is approximately a 10 to 15-minute walk from a Nagoya Municipal Subway station and about 2 kilometers from Aeon Atsuta. The property is currently an owner-change (owner-occupied investment) property, meaning it is being sold with an existing tenant in place, offering a yield of around 7%.
The building was constructed in October 1999. The land area is approximately 10 tsubo (approx. 33 square meters), and the total floor area is approximately 20 tsubo (approx. 66 square meters). The building has a history of use: initially, the owner lived in it as a combined shop and residence, but the shop closed after about a year, and the first floor was used for storage for many years. Subsequently, the property was prepared for rental, and a new gas water heater was installed in April 2024. An air conditioner was also replaced with a new unit in August 2024.
The second floor is a 1LDK layout with a separate bathroom and toilet. The bathroom features a reheating function, and the toilet has a bidet seat. The kitchen has connection points for a dishwasher and a water purifier. The first floor has a dirt-floor (doma) area with concrete flooring, which is currently being renovated. There are water and gas pipe connections in the first-floor doma room. The first floor also has a parking space for a light vehicle on the north side, and the south side has an area under a balcony that was installed by the owner. There are drains for wastewater in the first-floor doma area and under the balcony, which could be used for installing a toilet or bath on the first floor. A water tap is available under the balcony, suitable for a washing machine. The property includes shutters on the north side of the first floor and the south side of the second floor. A narrow pathway on the west side of the building has a right-of-way established, ensuring secure access.
The television is not currently viewable as it was not converted to digital; cable TV, internet TV, or a digital antenna would be required. Fiber optic internet (NTT) is connected to a room on the second floor. The land has been subdivided into four lots due to a survey conducted for the right-of-way. The property is sold as-is, with no warranty for contractual non-conformity. Negotiations on price are possible.
