Compact Investment Apartment in Okayama City with Established Tenant
This property is a compact 1K apartment unit located on the first floor of a four-story reinforced concrete (RC) building in Okayama City's Kita Ward. The apartment has a private floor area of 19.76 square meters (approximately 5.97 tsubo) and includes a 2.4-square-meter balcony. The building was constructed in February 1990.
Key features and equipment include propane gas, a water supply system, and a septic tank. A special note indicates this is an owner-change sale, with the unit currently tenanted at a monthly rent of 30,000 yen. The annual projected rental income is 360,000 yen, yielding a surface-level return of 16.36%. The monthly management fee is 3,000 yen, collected as a lump sum of 18,000 yen every six months. This fee includes a fixed-rate water charge.
The location offers convenience, being just a 4-minute walk from Yokoi Elementary School bus stop. The area is within a Category I Exclusive Residential Zone. The property is offered for immediate handover and is under a self-management system without an on-site superintendent.
Okayama City, the capital of Okayama Prefecture, is famously known as the "Land of Sunshine" for its predominantly sunny and pleasant climate. A major landmark and popular tourist destination in the city is the stunning Korakuen Garden, one of Japan's Three Great Gardens, renowned for its beautiful landscapes and seasonal scenery.
