Buy Property for Cross-Border Investment:

Glorio Tower Yokohama Motomachi 407 for ¥87,800,000 (2LDK Condo 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)

Glorio Tower Yokohama Motomachi 407 for ¥87,800,000 (2LDK Condo with Tenant)

  • Address: 37-8 Yamashitachō, Naka Ward, Yokohama, Kanagawa 231-0023 (Google Maps Link)

  • Neighborhood: Mixed-use of residential buildings and large presence of small shops, cafes, restaurants, neary Motomachi Shopping Boulevard, large waterfront park, sightseeing destinations including Yokohama Chinatown, coin parking, tourist attractions (Yokohama Marine Tower), gas stations, beauty salons, convenience stores, supermarkets, discount stores, high-end fashion retailers, exoctic car dealerships, and much more. There are no heavy industry or manufacturing sites nearby.

  • Structure: Reinforced concrete with 1 floor below ground and 22 floors above ground.

  • Property rights: Freehold

  • Construction: Completed in February 2005 by Maeda Corporation.

  • Floor plan/layout: 2LDK (Japanese Layout Key)

    • Bedroom one: 8.8 tatami-mat equivalent (approx. 14.54 m2/156.50 ft²)

    • Bedroom two: 7.8 tatami-mat equivalent (approx. 12.89 m2/138.74 ft²)

    • Kitchen: 3.4 tatami-mat equivalent (approx. 5.61 m2/60.38 ft²)

    • Living/Dining: 13.5 tatami-mat equivalent (approx. 22.31 m2/240.14 ft²)

    • One balcony facing southwest.

  • Total floorspace: 75.85 m2 (816.44 ft²) and 11.80 m2 (127.01 ft²) for the balcony.

  • Units in building: 407

  • Building management company: Home Life Co., Ltd.

  • Building maintenance staffing: Available during daytime via outsourced staffing agency.

  • Occupancy: Currently occupied by tenant paying ¥232,000/month.

  • Pets: Allowed in building with some restrictions.

  • Non-residential use: Prohibited

Running Costs

  • Common area maintenance fee: ¥16,500/month paid to building management company

  • Reserve fund for long-term repairs: ¥19,880/month paid to homeowners association and managed in partnership with building management company.

  • Parking

    • Passenger vehicle: ¥30,000/month

    • Motorbike: ¥3,000/month

    • Bicycle: ¥1,000/month

  • Bashamichi Room property management fee: 5% of rent (¥11,600/month)

  • Property tax: ¥177,353 (as of FY 2022)

Amenities

  • Motomachi-Chukagai Station: 1-minute walk (Minatomirai Line)

  • Yamashita Park: 3-minute walk

  • Yokohama Chinatown: 3-minute walk

  • Yokohama Motomachi Shopping Street: 1-minute walk

  • Building includes parcel delivery lockers, auto-lock lobby, front-desk service, supermarket on ground floor, and party room and sky lounge for tenant use.


Listed price: ¥87,800,000

Brokerage fee + tax: ¥2,963,400

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: ¥93,068,000 〜 ¥93,946,000


Estimated gross yield: 3.17% (as of December 18, 2022)

Annual rental income: ¥2,784,000 (as of December 18, 2022)


* 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)

Temple at Yokohama Chinatown

Gate in Central Yokohama Chinatown

Yamashita Park (Northwestern View)

Yamashita Park (Eastern View)

Yokohama Marine Tower

Glorio Yokohama Motomachi Exterior

Motomachi Shopping Street Entrance

Nakamura River (Near Motomachi Shopping Street)

Photos: © 2022 Pix4Japan. All rights reserved. Photos used with permission.