Property Overview: Avenue Momo in Okayama City
This property, known as Avenue Momo, is a three-story reinforced concrete building located in the Kita-ku area of Okayama City. The building offers a total floor area of 386.31 square meters, with 131.07 square meters on the first floor, 127.62 square meters on the second floor, and 127.62 square meters on the third floor. The land area is 423 square meters. The building was constructed in May 1990 and is situated on a plot with a building coverage ratio of 60% and a floor area ratio of 200%.
The property is currently tenanted, offering an investor an immediate rental income stream with a 9% yield, equating to an annual rent of 6.04 million yen. The first floor is currently used as a chiropractic clinic. The unit layouts available within the building include 1LDK and 2LDK types. There is also a parking agreement for seven vehicles on the neighboring northern plot, available for a monthly fee of 35,000 yen. The property includes a bicycle parking area.
Regarding utilities and equipment, the building is supplied with propane gas and has a septic tank. It is equipped with air conditioning, a hot water supply system, and separate bathroom and toilet facilities. A shower is installed, and there is an indoor washing machine storage space. An intercom with a TV monitor is provided for security.
The location is convenient, with the bus stop for services to the National Hospital (Okayama Medical Center) and Every Okanaka Tsugawa store located 200 meters away, or about a three-minute walk. The property is within the second type residential zone of the urbanization promotion area.
