Warou Flat No. 2

298,000,000 Yen

Apartment building & land
Azabudai, Minato-ku, Tokyo

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 ABOUT

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:

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).

Floor sizes:

  • 1F: 168.52 sqm
  • 2F: 159.73 sqm

 

7 of the 8 units are currently leased to tenants, providing a gross rental income of 928,000 Yen/month, and a gross yield of 3.73%. 1 unit is currently advertised for rent for 300,000 Yen/month. 

 LOCATION
Address: Transport:
  3-3-25 Azabudai, Minato-ku, Tokyo
  • Roppongi Station – 10 min walk
    (Hibiya, Oedo Lines)
  • Azabu Juban Station – 10 min walk
    (Oedo, Namboku Lines)
Area Guide:
  • Tokyo Tower: 850 meters
  • Roppongi Hills: 1,100 meters
  • Azabu Juban restaurant street: 750 meters
  • Singapore Embassy: 700 meters
  • Philippine Embassy: 400 meters
  • Azabu Post Office: 350 meters
  • Tokyo American Club: 600 meters
  • Maruetsu Supermarket: 600 meters
  • Izumi Garden Tower: 550 meters
  • Nissin World Delicatessen: 800 meters
 Floorplan

Please inquire for floorplan

 Details
Type: Apartment Building + Land
Land size (Registered): 206.00 sqm (Freehold)
Building size (Registered): 328.25 sqm (3,532 sq.ft)
Construction: 2-storey, Wood-frame
Built: 1936
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:
(kenpeiritsu)
60% / 80%
Floor area ratio:
(yosekiritsu)
160%
Status: 7/8 units rented
Annual gross rent (current): 11,136,000 Yen
Annual estimated costs:
Gross yield (current): 3.73%
*Fully rented.
*Additional land ownership of 16.74 sqm (private road).
*Fire prevention / Quasi fire prevention district.
*Setback required.
*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: August 16, 2017. Next update (scheduled): August 30, 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.

Disclaimer:
All information contained herein is gathered from sources we believe to be reliable. However we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
All care has been taken in preparing this floor plan, however the accuracy is not guaranteed and no liability will be accepted for any reliance placed upon it. In the event of any conflict between the floor plan and actual conditions, the latter shall prevail. Dimensions are approximate.