Investment Property in Matsue City's Hokkicho District
This property presents a unique investment opportunity in the Hokkicho district of Matsue City, Shimane Prefecture. Currently occupied, this house offers a gross yield of approximately 16.8%, making it an attractive proposition for investors. The property has undergone several renovations and extensions over the years, including additions in 1983 (Showa 58) and 2005 (Heisei 17). More recently, in 2020, the tatami mats in the first-floor Japanese-style room were replaced, and the second-floor Japanese-style room was converted into a Western-style room. In June 2023, the flooring and walls of the first-floor Western-style room (2) were newly refurbished. It is important to note that the interior photographs are from 2020, prior to these most recent updates.
Prospective buyers are encouraged to schedule a viewing at their convenience. The property is an owner-change listing, indicating a direct transfer of ownership. However, there are several critical legal and geographical restrictions to consider. The property is located within an Urbanization Control Area, where reconstruction is not permitted. Furthermore, it falls within a Sediment Disaster Special Warning Zone (Red Zone), indicating a high risk of landslides and other earth and sand disasters. These factors are essential for any potential investor to evaluate thoroughly.
The house itself is a two-storey wooden structure built in March 1974, making it 52 years old. It features a 5DK layout with a total floor area of 114.75 square meters, situated on a land plot of 115.72 square meters. The property includes one free parking space. Its location offers convenient access, being just a 6-minute walk from the "Techno-Ark Shimane" bus stop.
The surrounding area of Matsue is rich in history and culture. Matsue is often called the "City of Water" due to its network of canals and its location near Lake Shinji. A notable landmark is Matsue Castle, one of Japan's few remaining original feudal castles, which offers a glimpse into the region's samurai past. The castle, with its black exterior, is a stunning example of traditional architecture and provides panoramic views of the city and the lake.
