Investor Opportunity: Student Apartment Unit in Tottori City
This property is a studio apartment unit (one room) located on the third floor of an 11-story reinforced concrete building in the Lake Mountain West area of Tottori City, Tottori Prefecture. The unit has a floor area of 20.06 square meters (approx. 6.06 tsubo) and features a balcony. The main living area is a single Western-style room.
Built in January 1991, the building uses a steel-framed reinforced concrete (SRC) construction. This specific unit has been upgraded to a separate bathroom and toilet layout, a popular feature among students, although the original construction had a combined bathroom and toilet. This is a student-only apartment building, and residency is restricted to students of Tottori University.
The property is currently tenanted and being sold as an owner-change (オーナーチェンジ) investment. The projected annual rental income is 228,000 yen, giving an estimated gross yield of 57.00%. The building has a total of 110 units. Management is handled by REM Inspection Co., Ltd. The property is located in a commercial area and is a 5-minute walk from Tottori University-mae Station on the Sanin Main Line.
