Bashamichi Room - Kitachiku Building 101

Bashamichi Room

Buy Property for Cross-Border Investment:

Nogecho 3-Chome Kitachiku Building 101 in Yokohama for ¥55,500,000 (Commercial Space with Tenant)

Bashamichi Room Services for Overseas Buyers:

Setting up escrow account for purchasing processes, paying fees, paying rental income tax, receiving rent, and forwarding rent (minus taxes) to owner's overseas account.
Translation of contract documents, invoices, billing statements, etc.
Conducting purchase contract meeting via Zoom, Skype, etc., and interpreting discussed content with seller, seller's agent, and judicial scrivener.
Intermediary support between landlord and tenant.
Intermediary support between landlord and contractors for repairs, upgrades, etc.
Conduct tenant screening; processing rental contracts, lease renewals, lease termination requests, and move-out inspections.
Inspect vacant properties and pay utilities for owners not wanting to rent out their property (i.e. vacation-home use)

Nogecho 3-Chome Kitachiku Building 101 in Yokohama for ¥55,500,000 (Commercial Space with Tenant)

Address: 3--110-1 Nogechō, Naka Ward, Yokohama, Kanagawa 231-0064 (Google Maps Link)
Neighborhood: Mixed-use residential and commercial facilities including supermarkets convenience stores, drug stores, shops, hotels, cafes, condominiums, beauty salons, offices, etc. There are no heavy industry or manufacturing sites nearby.
Structure: Reinforced concrete with 3 floors below ground and 13 floors above ground.
Property rights: Freehold
Construction: Completed in December 2001 by Taisei Corporation
Floor plan/layout: commercial space serving food and drinks on street level.
Floorspace: 46.82 sqm.
Units in building: 66 (commercial and residential)
Building management company: Tokyu Community Corp.
Building maintenance staffing: Available during daytime.
Occupancy: Currently occupied by commercial tenant paying ¥239,800/month.
Pets: Not allowed in building.
Non-residential use permitted on floors 1 through 8.

Running Costs

Common area maintenance fee: ¥13,700/month paid to building management company
Reserve fund for long-term repairs: ¥12,290/month paid to homeowners association and managed in partnership with building management company.
Parking
- Passenger vehicle: ¥17,000 to ¥18,500/month
- Bicycle: ¥300/month
- Motorcycle: ¥1,000/month
Bashamichi Room property management fee: 5% of rent (¥10,500/month)
Property tax: ¥140,153 (FY 2022)

Amenities

Sakuragicho Station: 4-minute walk (JR Keihin-Tohoku/Negishi Line & Blue Line)
Building includes parcel delivery lockers and elevators.

Listed price: ¥55,500,000

Brokerage fee + tax: ¥1,897,500

Stamp tax: ¥10,000

Real estate registration tax (approximate): 2％ of asset value*

Fixed asset tax: 1.4％ of total asset value:*

City planning tax: 0.3％ of total asset value*

Approximate Total Cost: ¥58,830,000 〜 ¥59,385,000

Estimated gross yield: 5.18% (as of December 13, 2022)

Annual rental income: ¥2,877,600 (as of December 13, 2022)

Current lease term: August 1, 2022 to July 31, 2025

* Total cost of ancillary taxes and fees will be between 6% and 7% of the listed price. Asset Value, which can fluctuate on a yearly basis, is substantially lower than the listed Market Value. Actual tax is calculated annually by local legal affairs bureau once a year. Exact amount of tax is not known until the municipality sends out the tax bills at the end of the fiscal year.

Inquire HERE using this contact form or call 045-663-2208 | 080-9511-7860

You can also email directly at robert@basyamichijisyo.com

(Closed Tuesday and Wednesdays | Hours 10:00 to 19:00)