Property Overview: Land and Buildings in Mito, Ibaraki
This property consists of a parcel of residential land and two three-story steel-reinforced concrete apartment buildings located in Mito, Ibaraki Prefecture. The land is zoned as High Residential Class II with a building-to-land ratio of 60% and a floor area ratio of 200%. The registered land area is 398.99 square meters. The two apartment buildings were constructed in February 1996. The first building has a registered total floor area of 250.00 square meters, with the first floor at 88.84 square meters, the second floor at 81.08 square meters, and the third floor at 81.08 square meters. The second building has a registered total floor area of 254.83 square meters, with the first floor at 91.75 square meters, the second floor at 81.54 square meters, and the third floor at 81.54 square meters. Both buildings have a flat roof and are classified as apartments. The property is currently occupied. Access is via a bus stop about 180 meters to the south, approximately a three-minute walk, and the JR Joban Line Akatsuka Station is about 1.7 kilometers to the northeast. The property is being offered through a court auction with a base bid price of 21,620,000 yen and a minimum bid of 17,296,000 yen. The cap rate is listed at 12.9%.
