CONVESO Tsuruhashi / Whole 7-Storey Building (31 Units + Shop), Osaka

Property Description

Just 2 minutes on foot from Tsuruhashi Station, this 7-storey steel-frame building dates from January 2006 and comprises thirty-one 1K units plus one shop on the ground floor. The listing materials state that an application under the Hotel Business Act (ryokan business) is underway and that all units, the exterior and the common corridors are being renovated. - Stations: Tsuruhashi (JR Osaka Loop Line) 2 min on foot; Tsuruhashi (Osaka Metro Sennichimae Line) 2 min on foot; Tamatsukuri (JR Osaka Loop Line) 9 min on foot - Price: ¥890,000,000, tax included - Yield (as stated in the listing materials): 0.28% current, 8.18% projected - Licence status (as stated in the listing materials): the ryokan (hotel business) licence under the Hotel Business Act has been applied for but has not yet been granted - Projected income in the listing materials (at 70% occupancy): minpaku (private lodging) ¥9,000 per day × 31 rooms = ¥279,000 per day, or ¥70,308,000 per year; plus ¥2,520,000 per year from the ground-floor shop, for a total of ¥72,828,000 per year - Structure: 7 storeys above ground, steel frame with a flat roof, completed January 2006; floor area 927.61㎡ (approx. 280.60 tsubo); 32 units in total (1K × 31, shop × 1); certificate of inspection (kensa zumisho) issued - Land: 224.23㎡ registered (approx. 67.83 tsubo), freehold, residential land, fronting a public road approx. 15.0 m wide to the west - Planning: urbanization promotion area, commercial zone; building coverage 80%, floor area ratio 400%; quasi-fire prevention district - Tenancy: the ground-floor shop is the only leased space; security deposit ¥2,000,000 (Kansai method) - Conditions of sale: registered-area basis, as-is, boundaries not specified, judicial scrivener designated - Handover: by negotiation