Investment Opportunity: Pet-Friendly Resort Apartment with Hot Spring in West Karuizawa
This is an owner-change (オーナーチェンジ) investment opportunity for a resort apartment located in the Mervelle Karuizawa Hot Spring (メルヴェール軽井沢ホットスプリング) building in the West Karuizawa area of Nagano Prefecture. The property is currently tenanted and offers a stable income stream.
The unit features a 1LDK layout with a dedicated private garden (専用庭). The exclusive area is 54.45m², with a balcony of 10.09m². The apartment is on the first floor of a three-story reinforced concrete building, facing south, offering views of greenery from the living room and kitchen. The interior includes a counter kitchen, a large storage space, and a clean bathroom. The building was constructed in June 1993 (Heisei 5) and has a total of 106 units.
Equipment and facilities include electricity from Chubu Electric Power (中部電力), electric water heating, and public water supply (公営水道). The property is pet-friendly (ペット可) with specific rules.
Key investment details from the agent notes are as follows: The current status is tenanted, and interior viewings are not possible. The current lease contract must be taken over. The standard building lease contract runs until July 26, 2026 (Reiwa 8). The total monthly rent is 118,000 yen, with an estimated annual income of 1,416,000 yen, representing a gross yield of 5.9%. This yield is calculated before deducting property taxes and other maintenance costs. The basic water fee is 3,740 yen every two months. A large communal bath (大浴場) is available, using natural hot spring water (源泉) circulated through a filtration system.
Residents have access to shared facilities including a hot spring public bath, a seasonal outdoor pool (summer), and a 100-meter dog run. Parking is available on-site with 87 spaces free of charge. Monthly management fees are 22,790 yen, and the repair reserve fund is 19,100 yen, for a total monthly cost of 41,890 yen. The property is located about a 6-minute drive (approx. 3km) from the Shinano Railway Line's "Miyota" Station.
