Investment Opportunity: 53-Unit Apartment Building in Gifu Prefecture
This property is a substantial investment opportunity: a 53-unit apartment building named "Corpo Sakae II" located in Mizuho City, Gifu Prefecture. The building, constructed in May 1994, is a four-story steel structure with a total floor area of 1,318.8 square meters on a land plot of 969.86 square meters. All 53 units are studio layouts (1R), each with a size of 24.3 square meters, and crucially, every unit features a separate bath and toilet.
Critical agent notes provide essential financial and operational details. The property's facilities include propane gas, a septic tank, a parcel delivery box, separate bath and toilet in each unit, and a bicycle parking area. Special notes on road access indicate it fronts a 7.7-meter wide public road to the north, with an 18-meter frontage. A significant feature is the availability of free parking for three or more vehicles.
The financial remarks are detailed: the projected annual rental income at full occupancy is 18,674,400 yen with a projected yield of 12.45%. The current annual rental income is 16,958,400 yen, yielding 11.31%. A critical note states that 20 of the 53 units are currently under sub-lease contracts, and these sub-leases cannot be inherited by a new owner after the property is handed over. The property is currently tenanted and being sold as an owner-change investment.
The area offers a blend of suburban living and academic proximity. An interesting local fact is that Mizuho City is home to the Mizuho Rugby Stadium, a significant venue for the sport in the region. The property is within a 15-minute walk of Asahi University, a major local institution. For broader exploration, the historic city of Gifu, with its famous Gifu Castle overlooking the Nagara River, is a major tourist attraction within reasonable distance.
