Affordable Investment Opportunity in Wakayama's Coastal City

This property presents a rare opportunity to acquire a detached house in Wakayama Prefecture's coastal city of Kainan. Listed at a remarkably affordable price of 1.1 million yen, this two-story wooden structure was built in May 1953 and offers a generous land area of 138.8 square meters (approximately 41.98 tsubo). The registered building area is 72.72 square meters (approximately 21.99 tsubo), featuring a 5K layout. The property is currently vacant, with the handover timing open for consultation.

Essential agent notes have been translated for clarity. The equipment includes city gas, electricity, running water, a septic tank, and side gutters. Special remarks indicate that the approximate land area, excluding the road setback portion, is 130.20 square meters (39.39 tsubo). It is important to note that the building area of 72.72 square meters is based on the registry, and there are unregistered building portions present. A verification of the building-to-land ratio (建ぺい率) is required, as is a check on the possibility of rebuilding. The property is situated in a Quasi-Commercial Zone within an unzoned city planning area, with a building coverage ratio of 80% and a floor area ratio of 200%. Road frontage is to the north, with a width of 2.5 meters on a public road spanning 10.8 meters, and a setback is required. The land is flat and ownership rights are freehold.

The location offers excellent convenience, being just a 9-minute walk from Kainan Station on the Kisei Main Line. Daily necessities are within easy reach, with a Seven-Eleven convenience store only 318 meters away and a Tsuruha Drug store a mere 169 meters from the property. The area is part of the historic Kii Province, known for its beautiful coastline along the Kii Channel. A major nearby landmark is the iconic Kishu Toshogu Shrine, a stunningly decorated shrine dedicated to Tokugawa Ieyasu, located a short drive away in the neighboring city of Wakayama.