|Apartment Building + Land
Azabudai, Minato-ku, Tokyo
Warou Flat No. 2 Building is a 1930s Spanish-style block of 8 apartments located in the Azabudai neighbourhood. The 80-year old building is a 2-storey wood-frame structure with mortar exterior.
Warou Flats were designed and developed by landowner and agricultural science scholar Bunzaburo Uedo in the 1930s. He was inspired by the Spanish Colonial architecture he saw when visiting the west coast of the US in the 1920s and, along with the help of local carpenters, built five blocks of flats in a similar style.When new, the apartments were offered fully-furnished and were extremely modern for their time with tiled bathrooms and gas piping to the living, kitchen and bathroom. They ranged from studios to 2-bedroom apartments with servant rooms. Buildings 1 and 2 had boiler rooms in the basements to provide steam heating to the rooms above.Unfortunately one of the buildings was later destroyed in WWII, while Building 3 was bought by a developer in the late 1990s and replaced with a small block of apartments.
‘Spain-mura’ or Spanish Village, as it was known in the past, was once very popular with entertainers and Ginza hostesses as it was only a 15 minute taxi ride from the Ginza area. Nowadays the tenants are mostly working singles or couples.
The pre-war apartments are located in a quiet cul-de-sac, but are just a short walk from the bustling and lively Azabu Juban and Roppongi areas.
The sale is for the land and building of Warou Flat No. 2. It includes 206 sqm of freehold land, and the 8-unit Warou Flat No. 2. The wooden building is 2-storeys and has a total floor area of 328 sqm (2,529 sq.ft).
- 1F: 168.52 sqm
- 2F: 159.73 sqm
8 of the 8 units are currently leased to tenants, providing a gross rental income of 1,178,000 Yen/month, and a gross yield of 4.74%.
|3-3-25 Azabudai, Minato-ku, Tokyo||
Please inquire for floorplan
|Type:||Apartment Building + Land|
|Land size (Registered):||206.00 sqm (Freehold)|
|Building size (Registered):||328.25 sqm (3,532 sq.ft)|
|Road:||3.5m wide private road on north side.|
|Road frontage:||Approx. 9.85 meters|
|Zoning:||Category II Mid/High-Rise Residential Zone;
Neighbourhood Commercial Zone.
|Building footprint ratio:
|60% / 80%|
|Floor area ratio:
|Status:||8/8 units rented (100% occupancy rate)|
|Annual gross rent (current):||14,136,000 Yen|
|Annual estimated costs:|
|Gross yield (current):||4.74%|
*Additional land ownership of 16.74 sqm (private road).
*Fire prevention / Quasi fire prevention district.
*Partially connected to No. 1 building on eastern side (memorandum exists).
*Gross rent and yield is based on current occupancy. Gross rent and yield cannot be guaranteed now or in the future.
|Last updated:||February 14, 2017.||Next update (scheduled):||March 1, 2017.|
For more details on this property, please fill in the inquiry form below:
*Japan Property Central, K.K. is a fully licensed real estate agency. We are able to assist buyers with the purchase of this property or similar ones. Our fees to buyers are 3% + 60,000 Yen + consumption tax.
Transaction type: Brokerage.