Compact Investment Apartment in Okegawa, Saitama
This is a compact 1K apartment located on the 4th floor of a 4-storey reinforced concrete (RC) building in Okegawa City, Saitama Prefecture. Built in September 1991, the property is currently tenanted, offering an immediate investment opportunity. The purchase price is 2.4 million JPY, with a projected annual rental income of 384,000 JPY, resulting in a high estimated gross yield of 16%. Monthly running costs include a management fee of 7,400 JPY and a repair reserve fund of 5,925 JPY.
Key equipment and features of the apartment include an IH cooking heater, a closet, air conditioning for cooling and heating, and an auto-lock building entrance for security. The building is managed by Japan Housing Inc. under a fully outsourced,巡回管理 (rotational patrol) system. The property comes with an inspection report, defect warranty, and performance evaluation for added buyer assurance. The land is designated as a Category I Exclusive Residential Zone.
Okegawa City offers convenient access to Tokyo via the JR Takasaki Line, with Oke Station just a 10-minute walk from the property. The area provides daily necessities with shops like a Seven-Eleven convenience store 326 meters away and a larger shopping facility, Lopia Ageo Vivahome, within 548 meters. An interesting local fact is that Okegawa is historically known for its production of high-quality rice and its traditional 'Okegawa Kasa' (woven bamboo hats). The closest major tourist attraction is the historic Kawagoe City, often called "Little Edo" for its beautifully preserved warehouse district and iconic bell tower, located a short train ride away.
