Today’s property that seller is trying to sell in rush because of financial issue so the price is a cheap vs size.
3 Good Point
・Renovation work is just done
・Lease contract will start on March 1st
One thing you should concern
・About building age
“The new standard for earthquake proofing was established after June 1981, so this property doesn’t meet the new standard.
The legal lifespan of a reinforced concrete structure is 47 years, which is used by banks to calculate loans, but generally, the lifespan is known to be around 100 years.
Here’s one tip about the regulation
To demolish or rebuild a building, 3/4 agreement from the management union, organized by each unit owner, is required. As such, it is unlikely to happen and hard to proceed with such a large repair or demolition. It is not realistic.
In the case of a rebuild, there may be 2 options offered by the management union:
1. Sell your property to them at their offered price.
2. Pay an additional amount of money for purchasing a new unit of the apartment.”
Please check the details below.
Name: Kokusai Plaza Syowa WEST (コクサイプラザ昭和WEST)
Price: 2,200,000 Yen ≒ 16,206 usd
＊Asking price is 2,500,000 Yen
Size: 43.09 sqm ≒ 463 sqf
→ 35 usd/sqf
Google map: https://goo.gl/maps/3wdASNFWY1SreQgGA
Access: 7 mins walk to bus stop and 28 mins ride by bus to Kure station
Structure: Reinforced concrete
Land Rights: Freehold
Number of total units: 24
No.of Floor: 5F
Unit Floor: 3F
Unit Number: 3xx
Built Year: May 1974
Building Management/Maintenance Fee: 6,500 yen/month
Type of unit: 2DK
Size: 43.09 sqm
Balcony: Need to confirm
Facing: Need to confirm
Rent: 40,000 Yen/ Month
(Detail of lease contract)
Japanese female, 32 years old, with her child, Employed
The lease contract has started since March 1st 2023 and it is 2 years renew
Rent guarantor: Yes, it is included in the lease contract
Deposit: 80,000 Yen
In the calculation table, you can see the rough total cost of purchasing a property and what kind of expense you need to pay for every month.
I mentioned about our property management in the calculation table. It is 5% of rent and included rent collection, basic tax handling, complaints handling.
If you are interested in this property, please inquire me as soon as you can!!
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