Investment Opportunity in Ashikaga: Caesar Palace Watarase I Condominium
This listing presents a solid investment opportunity in Ashikaga City, Tochigi Prefecture. The property is a 2LDK condominium unit within the Caesar Palace Watarase I building, built in July 1991. The unit is currently tenanted, offering immediate rental income with an annual projected rental revenue of 660,000 yen and a high projected annual yield of 12.69%. The total floor area is 53.72 sqm (approximately 16.25 tsubo).
Key features and agent notes include a counter kitchen and propane gas. The monthly management fee is 9,300 yen, with no separate repair reserve fund. The property includes a parking space available for 5,000 yen per month. The transaction is listed as a general intermediary (management code 27871). The building is a 6-story reinforced concrete (RC) structure, and this unit is located on the 2nd floor. The total number of units in the building is 36, and the management is fully outsourced with a daytime manager.
Ashikaga is a historic city known for its rich textile heritage and beautiful wisteria flowers. The area offers a blend of traditional culture and modern convenience. A major landmark near the property is the Ashikaga Flower Park, famous for its stunning, large-scale wisteria trellises that attract visitors from across Japan, especially during the spring bloom season.
