Shine 35: A Nine-Unit Investment Apartment Building in Owariasahi, Aichi
This property is a nine-unit apartment building named "Shine 35" located in Setogawa-cho, Owariasahi City, Aichi Prefecture. The building is a three-story reinforced concrete structure built in March 1995. The total land size is 568.03 sqm (approx. 171.82 tsubo) with a total building floor area of 448.38 sqm (approx. 135.63 tsubo). Each of the nine units is a 2LDK layout, with a uniform exclusive area of 49.8 sqm per unit.
The property is currently tenanted and being sold as an owner-change investment. The current annual rental income is 6,048,000 yen, yielding a current return of approximately 7.03%. If fully occupied, the projected annual rental income is 6,906,000 yen, yielding a projected return of approximately 8.03%. The property also generates separate income from solar power sales, with an annual performance of 625,745 yen in fiscal year 2026. There are 12 parking spaces on the premises, with 9 currently in use.
Special agent notes provide critical investment context: The yield is calculated as the ratio of annual rental income (including common area fees) to the sale price, before deducting taxes, public charges, and other necessary maintenance expenses. The projected rent and yield are calculated based on market rent, adding rent for vacant units to assume full occupancy. Rental income is not guaranteed to be reliably obtained in the future. (Survey date: January 16, 2026). Furthermore, the property is currently tenanted (tenant lease agreements are to be taken over). As the units are occupied and interior confirmation is not possible, the floor plan may differ from the actual condition. As this is an owner-change property, interior viewings cannot be arranged.
The building features a south-facing orientation and is situated on a corner lot with road frontage on three sides. An attached garage building, constructed of light-gauge steel in April 1999 with a floor area of 14.90 sqm, is included. The location offers convenience, with a supermarket, an elementary school, and a clinic all within a 4-7 minute walk. Access to public transport is provided by a 13-minute walk to Migo Station on the Meitetsu Seto Line or a 10-minute walk to the "Sakaue" bus stop.
