Despite my keen interest in many properties this week, I just couldn?t let up the opportunity to tell you about this 90 square metre ?family home?? apartment comprising 3 bedrooms, LDK with its own garage, mini driveway, front & back terrace and garden in leafy suburban Nerima Ku.
Details of this property, case file no. H24K1849 can be seen by:
Logging into http://sleepwellhomes.jp and then clicking on the link here.
Not often does one get the opportunity to purchase such a property offering the benefits of an apartment yet with a complete home feel all on a single floor. The fact that this apartment is on the ground floor for me just enhances its usability as a real family home allowing its occupants walk in/walk out (no elevator required), single storey living with attached garage, easily converted to a workshop, garden terrace out back. I should say here however that this ground floor quality is not suited for everyone. Infact many Japanese won?t even consider them since they feel insecure in any apartment below 3rd floor hence I?m recommending this property for the unperturbed owner occupier bargain hunter looking for a good long term family home with the convenience of an ?everything taken care of? apartment.
This 12 year old building with auto lock entrance looks to be in immaculate condition right down to its prim garden hedges. As you?ld expect, the apartment itself has all the modern conveniences and a well proportioned layout consisting of generous amenities, 3 good size bedrooms all with built-in storage and a very spacious open plan kitchen, Living Dining area. Even the patio entrance is extra wide and comprises a more than average sized shoe cupboard/ built-in closet. There is a large sized private front terrace which looks like currently being used for hanging clothes and bicycle parking since there is a small gate with street access. Out the back, the main bedroom leads out to yet another terrace beyond which is a small garden surrounded by a good height privacy hedge at the boundary with the back street. Outside here is also the driveway and garage which is accessible by a sliding door back into the apartment.
One foreseeable drawback would be that while the 2 south-facing bedrooms would be magnificently bathed in natural light throughout the day, the depth of the front terrace would prevent most daylight from entering the Living room.
The ?self contained? location is another feature of this property being very close to all conveniences including a supermarket within 2 minutes, Post Office 30 seconds, Convenience store 2 minutes, Primary School 5 minutes and of course one of the popular ?get away? parks in Tokyo, Shakuji Koen a 8 minute walk. Two universities are also within walking distance. When it comes to transportation you have the choice of 2 very convenient lines in Seibu Shinjuku and Seibu Ikebukero.? For Shinjuku, there are 2 stations within 15 minutes walk, one being Kami Shakuji Station where all express train services stop. For those unfamiliar with the line, there is a train every 3 minutes leaving Kami Shakuji Station a weekday between 8 and 9 am. The last outbound train is 23:55pm from Seibu Shinjuku Station.
Turning our attention to the nature of foreclosures, on paper there doesn?t seem to be any abnormalities concerning deed or current owner. The current owner lives with four dogs and one cat. There is no mention of a family and although the vehicle out back may suggest otherwise, there is only one bicycle on the front terrace.
Ok let?s look at the numbers. I?ld like to mention that this property is recommended for Owner Occupiers only. An investor could try a flip at prices mentioned below but anything over may see the property on the market for a while. A long term rental scenario is discouraged. The Appraisal stands at a 20.16MJPY and by the time settlement day arrives management fee arrears will have accumulated around 0.8MJPY. At first glance the management fee of 37,370JPY/mth seems excessive but when one considers that an off-site parking space in this area will set you back at least 20,000JPY/month the total sum for this calibre property becomes reasonable.? Taxes are 157,759JPY/year.
It is very difficult to price this property since there are not many this size and none offering the convenience of one?s own back yard & garaged parking. However at this early stage of investigation I would be looking at a market price of between 32MJPY to 33MJPY. Now turning attention to the bid, again difficult, but I?ld say it will generate moderate interest up to the mid 20MJPY mark. Keeping in mind the 0.8MJPY arrears bids above 25MJPY should stand a strong chance of success and depending on your purposes and level of desire bidding up to 28MJPY will still see you reaping reasonable discount from market Value.
Bids Close 5pm, 26th of February. Good luck and bid to win!
http://sleepwellhomes.jp
Disclaimer: SleepWell has not thoroughly investigated this property and accepts no responsibility of loss due to purchase or attempts to purchase this property. It is absolutely imperative that the prospective buyer undertakes his own investigation or requests the assistance of SleepWell Consulting in procuring this property for them.
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