Wednesday, September 23rd, 2009
Dear International Investors,
I surveyed a new apartment building in Ojima in Koto-ku on the other day.
Its specifications are as follows:
Price: 130,000,000 yen
Location: 8, Ojima, Koto-ku, Tokyo (8-min walk to Higashiojima station of Metro Shinjuku Line)
Land: 193.27 sq. meters
Floor Area: 228.64 sq meters
Built in: 2008
Structure: Wooden (coated with galvanized steel sheet)
Annual Income: 9,084,000 yen
Yield: approx. 6.98%
The building is attractive for investment because it is new. Currently, it is fully occupied. But one should bear in mind that its value may not be so high as it looks because it is basically wood. Also, the neighborhood is residential and quiet with almost all of the apartment buildings there being lower than 5 stories. There is a vibrant shopping street along Shinohashi street which is about 5-min walk from the building.
Koto-ku where Ojima is is an old part of Tokyo. You should visit Koto-ku, if you are interested in old Tokyo. Koto-ku is well connected to other areas of Tokyo by JR Sobu Line, Tokyo Metro Hanzomon Line, Tokyo Metro Tozai Line, and Tokyo Metro Shinjuku Line. Kinshicho is particularly popular and populus with international tourists.