For SaleWhole Mid-rise Apartment Building

MI Mansion

Nagaoka, Izunokuni-shi, Shizuoka
Asking Price
¥38,000,000
Est. Net Yield: 18.83%
MI Mansion - 1/4
1 / 4

Executive Summary

This is a whole residential apartment building located in Nagaoka, Izunokuni-shi, Shizuoka, built in September 1978 with a 3-story reinforced concrete (RC) structure. Access is a 13-minute bus ride and a 1-minute walk from Izu-Nagaoka Station on the Izuhakone Railway Sunzu Line. The building area is 1044.4 sqm with a south-facing orientation, and amenities include parking, bicycle parking, and motorcycle parking. The land area is 855.57 sqm (official register) with ownership rights, situated on flat terrain within an urbanization promotion area designated as a Category II Residential Zone, with a building coverage ratio of 60% and a floor area ratio of 200%. The property fronts a 4.6 m wide public road on the west side. It is currently tenanted, and handover is immediate. Surrounding facilities include a park (159 m, 2-minute walk), a convenience store (276 m, 4-minute walk), a post office (564 m, 8-minute walk), and a medical facility (824 m, 11-minute walk).

Property Details

Building Area
1,044.4 ㎡
Structure
RC
Built Year
1978
Floors
3 Floors
Earthquake Std.
Old Seismic Standard
Est. Annual Rent
¥8,100,000
Transport
  • Izu-Nagaoka Station
    Izuhakone Railway Sunzu Line
    Bus 13 min + 1 min walk
Transaction Type
Brokerage
Japan Real Estate · Governor of Tokyo (1) No. 113344

Detailed property information

Status & handover

Current status
Leased (tenant in place)
Handover
Immediately

Land & legal restrictions

Land area
855.6 ㎡per land registry
Land rights
Freehold
Land category
Residential land
City planning area
Urbanization promotion area
Zoning
Category 2 residential zone
Building coverage / floor area ratio
60% / 200%
Road access
West side Public road 4.6 m wide
Private road share
None
Terrain
Flat

Costs besides the price

Other costs
固都税(令和6年度): ¥485,300 per year
Parking
Yes

Building management

Total units
18 units

Utilities & nearby

Gas
Propane gas

Please confirm the details in the explanation of important matters before purchase.

Around the property

This summarizes expected hazards, past disaster records, designated hazard zones, city planning, the surroundings (stations, schools, medical facilities and more), population, land prices and transactions around the property, based on data from Japan's Ministry of Land, Infrastructure, Transport and Tourism. The position is estimated from the address, so it can differ from the actual lot near the edge of an area. Hazard areas and records shown are only those published by national and local governments; being outside a published area, or not finding a record, does not mean damage cannot occur. Please confirm details on the municipality's hazard map and in the explanation of important matters given at the time of purchase.

Expected hazards nearby

Flood (maximum expected scale)
Within a published hazard area (expected flood depth 0.5–3 m)Rivers: 狩野川
Storm surge
Not within a published hazard area
Tsunami
Not within a published hazard area
Landslide
Not within a published hazard area
Liquefaction
Somewhat unlikely to liquefyA tendency for each grid cell of about 250 m, based on landform. It is not an assessment of the lot itself.

Please check your municipality's hazard map for details.

Past disaster records

Published records
No published record was found at this point or within about 300 m

This covers past disaster records published by national and local governments. Not finding a record does not mean that no disaster occurred.

Designated hazard zones

Steep slope failure hazard zone / Landslide prevention zone / Disaster hazard zone / Large-scale fill land
Not included in the published zones

This covers designated zones and maps published by national and local governments. Building and other restrictions may apply inside a zone. Please confirm the details with the municipality and in the explanation of important matters.

City planning

Urbanization zoning
Urbanization promotion area (designated for urban development)
Zoning (use district)
Category II residential zone
Floor area ratio · Building coverage ratio
Floor area ratio 200% · Building coverage ratio 60%

Because the position is approximate, this may differ from the designation of the lot itself. Please confirm the actual designation in the explanation of important matters.

Surroundings

Public elementary school district
長岡南小学校 (伊豆の国市立)School districts are set by the municipality and may change.
Nearest elementary school
伊豆の国市立長岡南小学校About 970 m in a straight line
Nearest junior high school
伊豆の国市立長岡中学校About 1,910 m in a straight line
Nearest high school
静岡県立伊豆中央高等学校About 1,930 m in a straight line
Nurseries and kindergartens
Within 500 m: 0 / within 1 km: 2
Nearest hospital (within 1 km)
順天堂大学医学部附属静岡病院About 700 m in a straight line / Hospitals within 1 km: 1

Distances are straight-line distances from the property's location, not walking times. Passenger figures are the combined daily boardings and alightings published by the railway operator (annual average). Names of stations, schools and facilities are shown in Japanese.

Population outlook nearby

2025 (estimate)
about 114 people
2050 (estimate)
about 80 people (-30% vs 2025)
Share aged 65 and over
40.1% → 45.5% (2025 → 2050)

Data for a grid cell of about 250 m, based on estimates by the Ministry of Land, Infrastructure, Transport and Tourism (starting from the 2020 census). Because the cell is small, it can differ from actual numbers and does not represent the trend of the whole municipality.

Nearby land prices

Commercial land · about 455 m
¥80,800/㎡Official land price (Land Price Publication) · 1/1/2026 (-1.5% vs last year)
Residential land · about 580 m
¥59,600/㎡Prefectural land price survey · 7/1/2026 (-1.5% vs last year)
Residential land · about 880 m
¥69,500/㎡Prefectural land price survey · 7/1/2026 (-1.3% vs last year)

Prices of representative lots selected by the national or prefectural government. They do not indicate the price or value of this property.

This service uses the API functions of the Real Estate Information Library of the Ministry of Land, Infrastructure, Transport and Tourism, but the timeliness, accuracy and completeness of the information provided are not guaranteed.

Source: Ministry of Land, Infrastructure, Transport and Tourism, Real Estate Information Library (国土交通省 不動産情報ライブラリ). Processed by us for the area around this property.Retrieved: 10/14/2026

Location & Map

Investment Analysis

Gross Yield21.3%
Est. Net Yield18.83%

Based on the rent under the current lease.

Net yield = (annual rent − management fee and repair reserve − property management fee (5.5% of rent)) ÷ (price + purchase costs). Property tax, vacancies and repair costs are not included.

ROI SIMULATION

ROI / IRR Investment Simulation

Gross Yield
21.30%
Est. Net Yield
18.83%
If sold after 10 years (before tax)
Annual return (IRR)
18.4%
Net gain
+¥72,540,000
Gain on total investment +178.5%
Est. Property ValueCumulative Net IncomeNet gain

If sold at the end of each year (before tax)

YearEst. Property ValueCumulative Net IncomeNet gainGain on total investmentAnnual return (IRR)
1yr¥38,000,000+¥7,650,000+¥3,690,000+9.1%9.1%
2yr¥38,000,000+¥15,300,000+¥11,340,000+27.9%14.3%
3yr¥38,000,000+¥22,950,000+¥18,990,000+46.7%16.0%
4yr¥38,000,000+¥30,600,000+¥26,640,000+65.6%16.9%
5yr¥38,000,000+¥38,250,000+¥34,290,000+84.4%17.5%
6yr¥38,000,000+¥45,900,000+¥41,940,000+103.2%17.8%
7yr¥38,000,000+¥53,550,000+¥49,590,000+122.1%18.0%
8yr¥38,000,000+¥61,200,000+¥57,240,000+140.9%18.2%
9yr¥38,000,000+¥68,850,000+¥64,890,000+159.7%18.3%
10yr¥38,000,000+¥76,500,000+¥72,540,000+178.5%18.4%

Assumptions

  • Total investment ¥40,630,000 (price ¥38,000,000 + purchase costs ¥2,630,000)
  • No management fee or repair reserve (you own the whole building)
  • Property management fee: 5.5% of rent (incl. tax)
  • Selling costs (brokerage fee and stamp duty) are deducted from the sale price
  • Taxes (income tax on rent, tax on capital gains, etc.), vacancies, property tax and repair costs are not included

This simulation is an estimate based on the inputs provided and does not guarantee future income or asset value. Actual results may vary due to market conditions, vacancy rates, and interest rates. Investment decisions are made at your own risk; we do not provide investment advisory or agency services.

CLOSING COSTS

Estimated Closing Cost Breakdown

Total Closing Costs (Est.)
¥2,630,000
Brokerage fee (3% of the price + ¥60,000, plus consumption tax; properties over ¥4 million)¥1,320,000
Real Estate Acquisition Tax (est., rate varies by property type)¥680,000
Registration License Tax (title transfer)¥340,000
Stamp Duty (purchase agreement)¥10,000
Judicial Scrivener & Other Fees (est.)¥280,000

These are estimated costs. Property tax and other pro-rated amounts are calculated separately at closing.

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