Ocean View Apartment Building in Naha, Okinawa with Strong Investment Potential
This is a substantial investment property located in the Onaga area of Naha City, Okinawa. The building is a reinforced concrete block structure with a flat roof and elevated floor design, officially listed as 4 stories but actually comprising one basement level and five above-ground floors. It was built in March 1993, making it 33 years old. The total land area is 525.78 sqm (approximately 159.04 tsubo), with a total floor area of 937.92 sqm (approximately 283.72 tsubo). The building-to-land ratio is 60% and the floor area ratio is 150%.
The property is configured as a 40-unit apartment building, with each unit being a 1DK layout. The units are distributed with 10 households each on the 2nd, 3rd, 4th, and 5th floors. The unit numbering is split between ocean-view units (rooms 1-7) and mountain-view units (rooms 8-11). The basement level provides parking for 15 vehicles and houses a water tank. The first floor offers an additional 15 parking spaces, a motorcycle parking area, a garbage disposal area, and vending machines, bringing the total parking capacity to 30 spaces. The rooftop is occupied by an au telecommunications base station.
Key facilities and infrastructure include pre-installed internet lines and connected water and sewage systems. The fixed asset tax for the 2025 fiscal year is ¥622,275. The property is being sold "as-is," and the buyer is responsible for the costs associated with ownership transfer registration and mortgage registration. Information regarding repair history and other announcements is available upon inquiry.
According to profit details as of November 14, 2025, the property generates a monthly rent of ¥1,256,000 (annual: ¥15,072,000) plus a monthly au base station usage fee of ¥44,000 (annual: ¥528,000). This results in a total annual income of ¥15,600,000 and a surface yield of 8.6%.
The location offers excellent access. The planned Koji Interchange, scheduled to open in 2026, is just a 3-minute drive away, while Tedako Urani Station on the Okinawa Urban Monorail (Yui Rail) is a 5-minute drive or a 23-minute walk. A bus stop, Onaga Danchi-mae, is a 4-minute walk. The area is within 1.5 km of elementary, junior high, and high schools, indicating strong rental demand. The property is situated in an urbanization promotion area within a Category II Low-Rise Residential Zone.
The Naha area is rich in culture and natural beauty. A fascinating historical fact is that Naha was once the capital of the Ryukyu Kingdom, a prosperous trading nation that flourished for centuries. The closest major landmark is the stunning Shuri Castle, a UNESCO World Heritage site and the former palace of the Ryukyu kings, located approximately a 15-minute drive from the property. This area perfectly blends modern convenience with deep historical significance.
