1 Bedroom Mansion in Yokohama City

Bidding Duration: January 6, 2010 to January 13, 2010

Bidding Opening Day: January 20, 2010

>>
Nearest station from the foreclosed property:

1) Keihinkyukouhonsen koganecho station -> 0.32 Kilometers
2) Yokohama shiei subway blue line Bandoubashi station -> 0.32 Kilometers

>>
PROPERTY DETAILS:

Bargain Selling Price: JPY 2,940,000

Possible Purchase Price: JPY 2,352,000

Category: 1 bedroom mansion

Property No. : Yokohama city naka-ku, sueyoshichou 3 chome

Room No.: 307

Room Floor area: 25.38 square meters

Property management fees: JPY 15,260

Date Constructed: 1989

Arrears of Property management fees: JPY 500,000

Current rental fee: JPY 75,000

>>

Facts about this property:

You can go to yokohama station from bandoubashi station within 10 minutes.
Yokohama station is the most famous urban station in kanagawa prefecture. There are a lot of offices, department stores and commercial buildings near the place. So, it is not difficult to find tenant for this mansion.
The current rental fee is higher than the expected rent amount which is about JPY 65,000. As of now, there is a tenant on this property paying a monthly rental fee of JPY 75,000. During the visit of the court house officer there is a couple currently residing on this property.

>>

This is result of opening.

Winning amount was ５，１７０，０００ yen.

In this case, yield rate should be
(JPY 65,000 - JPY 16,000) x 12/5170000 yen =11 percent
Even if buyer pays 500000 yen to renovate the room ,she can get enough profit.

>>

Photos

Property in Yamato City

Bidding Duration: December 2, 2009 to December 9, 2009

Bidding Opening Day: December 16, 2009

>>
Nearest station from the foreclosed property:

1) Odakyu enoshima line tsuruma station -> 0.3 Kilometers

>>
PROPERTY DETAILS:

Bargain Selling Price: JPY 1,560,000

Possible Purchase Price: JPY 1,248,000

Category: Mansion

Property No. : Yamato City, Nishi-tsuruma, 1 chome

Room No.: 413

Room Floor area: 13.83 square meters

Property management fees: JPY 8,270

Date Constructed: 1990

Arrears of Property management fees: JPY 100,000

Current rental fee: JPY 33,000

>>

Approximate bidding amount:
JPY 33,000 x 12/ 0.15 = JPY 2,640,000

>>

Photos

Property in Yokohama City

Bidding Duration: December 2, 2009 to December 9, 2009

Bidding Opening Day: December 16, 2009

>>
Nearest station from the foreclosed property:

1) Keihin kyukou line line Koganecho station -> 0.4 Kilometers

2) Yokohama shiei chikatetsu Blue line yoshinocho station -> 0.56 Kilometers

>>
PROPERTY DETAILS:

Bargain Selling Price: JPY 2,480,000

Possible Purchase Price: JPY 1,984,000

Category: Mansion

Property No. : Yokohama City, Minami-ku, miharudai 6-3

Room No.: 104

Room Floor area: 40.10 square meters

Property management fees: JPY 16,530

>>

FACTS ABOUT THIS PROPERTY:

There is a possibility to have few bid entries for this property owing to several reasons. So, bidder can get this property at a lower price.
Approximate bidding amount:
JPY 60,000 x 12/ 0.15 = JPY 4,800,000

>>

Photos

Bidding result of property in Atsugi City

Bid opening of Property in Atsugi City has been announced. The winning bid amount is JPY 3,199,999. The projected yield is around 16%.

Property in Ikebukuro City

Bidding Duration: December 3, 2009 to December 10, 2009

Bidding Opening Day: December 17, 2009

>>
Nearest station from the foreclosed property:

1) JR Saikyo line, Itabashi station -> 0.5 Kilometers

2) Toubotoujou line, Kita Ikebukuro station (North side) -> 0.27 Kilometers

>>
PROPERTY DETAILS:

Bargain Selling Price: JPY 3,650,000

Possible Purchase Price: JPY 2,920,000

Category: One bedroom mansion

Property No. : Toshima ku Kami Ikebukuro

Room Floor area: 2nd floor, 14.58 square meters

Property management fees: JPY 11,000

>>

FACTS ABOUT THIS PROPERTY:

The foreclosed property this time is a one bedroom mansion. The room size is narrow but considering that the place is in the City and near in the stations, finding a tenant would not be a problem.
Based on the court office evaluation report, the property is currently tenanted with a monthly rental fee of JPY 50,000. However, there is a need to visit the actual place to verify if still there is a tenant at the present. Existence of the tenant is a very important thing to consider. It's because when the property is not tenanted, looking for a new tenant will require to renovate the property.
In that case, the renovation cost will range from JPY 50,000 to JPY 150,000.
Approximate bidding amount:
JPY 50,000 x 12/ 0.13 = JPY 4,615,384

>>

Photos

Bidding result of property in Shiki City

Bid opening of the property in Shiki City has been announced. The winning bid amount is JPY 5,391,000 . There were 20 bid entries. This amount is very close with our estimated winning amount.

Bidding result of lot property in Ichikawa City

Bid opening of this property Land parcel in Ichikawa City has been announced. The winning bid amount is JPY 3,636,000 . There were 11 bid entries. This amount is lower than our estimated winning amount. If the monthly rent fee is JPY 70,000, the projected yield is around 23%.

Property in Kawagoe City

Bidding Duration: October 29, 2009 to November 5, 2009

((Monthly rental fee = 50,000 JPY x 12) / 2,400,000 JPY ) x 100 = 25% estimated ROI
>>
Nearest station from the foreclosed property:
JR川越線 西川越駅 (North-West side) - 1.24 Kilometers
JR川越線 的場駅 (Nort-East side) - 1.36 Kilometers

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 2,730,000

Bargain Selling price: JPY 2,184,000

Category: Lot and Building

Floor No.: 1st floor, with 34.78 square meters; 2nd floor, with 33.12 square meters

Date constructed: 1978

>>

FACTS ABOUT THIS PROPERTY:

1) Land property is 59.39 square meters with constructed building.
2) Public road with 3.85 square meters (1/3 share)
3) Public road with 0.44 square meters (1/3 share)
A friend of the debtor is renting on the 2nd floor (Japanese style room) for a monthly rent of JPY 20,000. This tenant has the priority over the highest bidder, so there is a need to evict by court legal procedure. While on 1st and 2nd floor (Western style room), is owned by a debtor who has cleaning shop business. In this case, no need to proceed with court legal procedure. This will be a good invetment if the debtor will pay a monthly rent fee of JPY 40,000 from now.
However, if the debtor will not be able to pay the rent, you need to evict that debtor and your source of rent income will only be from 1st floor. It will be about JPY 30,000.
For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 50,000 x 12 months

2) Possible winning bid amount: JPY 2,400,000

Expected yield/ ROI: 25 % ( No.1 / No. 2) x 100).

>>

PICTURE

Bidding result of Land parcel in Hidaka City

Bid opening of this property Land parcel in Hidaka City has been announced. The winning bid amount is JPY 4,122,000 . There were 5 bid entries. This amount is higher than our estimated winning amount. If the monthly rent fee is JPY 60,000, the projected yield is around 17%. This is a good chance for investment.

Bidding result of Apartment room in Sayama City

Bid opening of this property Apartment room in Sayama City has been announced. The winning bid amount is JPY 2,192,100 . There were 6 bid entries. The projected yield is around 15% (Monthly rent fee = JPY 36,000 x 12) / (JPY 2,192,100 + JPY 600,000) x 100.

Lot property in Ichikawa City

Bidding Duration: October 15, 2009 to October 21, 2009

((Monthly rental fee = 70,000 JPY x 12) / 4,800,000 JPY ) x 100 = 17.5% estimated ROI
>>
Nearest station from the foreclosed property:
JR武蔵野線 市川大野駅 (South-east side) - 1.9 Kilometers

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 2,800,000

Bargain Selling price: JPY 2,240,000

Category: Lot and building

Floor No.: 1st floor, with 29 square meters

>>

FACTS ABOUT THIS PROPERTY:

1) The property owner is a construction firm.
2) There are 3 parcels of land wherein 2 parcels are shared. The shared parcel serves as the road going to the building property.
3) The first floor of the building has only 29 square meters floor area which is quite small.
4) A tenant occupies the property and the monthly rental fee is 70,000 yen. Considering the building’s narrow space, the rental fee seemed a little bit expensive to me.　I assume that this rental fee would not get cheaper down to 50,000 yen.
5) The sink is clogged up and a repair would be necessary.
6) Parking area is included. The property is located far from the train station and the already inclusive parking area would be an advantage. The nearest train station is Ichikawaono Station and I have come by the station a number of times.
7) Along the vicinity area, there are several new houses, small factories and a vast land of green fields and forests. There are no large-scale food stores nearby. Also, big empty lands stand out on the vicinity area.
8) We need to investigate the ties between the tenant and the owner. If the tenant is related to the debtor company, then it would be difficult to demand to pay the house rent. This is because the company which owns the property might have been brankrupted. If indeed the company was bankrupt, then it would be burdensome to demand the house rent from its employees or more specifically the tenant who get unemployed due to the bankruptcy.
9) From what I ‘ve seen from the photos, the house interior is basically tidy.
10) By this time, the possible winning bid price is 4 million 800 thousand yen (4,800,000 yen).

>>

PICTURE

Property in Atsugi City

Bidding Duration: October 29, 2009 to November 5, 2009

((Monthly rental fee = 70,000 JPY x 12) / 4,100,000 JPY ) x 100 = 20% estimated ROI
>>
Nearest station from the foreclosed property:
1) 小田急小田原線 本厚木駅 (South side) - 3.5 Kilometers
2) JR相模線 門沢橋駅 (East side) - 1.56 Kilometers
3) 小田急小田原線 愛甲石田駅 (East side) - 1.94 Kilometers
4) JR相模線 倉見駅 (North-East side) - 2.18 Kilometers.

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 2,510,000

Bargain Selling price: JPY 2,008,000

Property No1: Parcel lot
Property Address: Atsugi City Sakai Jijou Aitsubo 1792-7
Land Category (As Registered): Residential lot
Land Category (At present): A portion had been categorized as part of the public road
Registered lot area: 114.28 square meters
Lot area (At present): Lot area is classified as semi-industrial zone
Building to land ratio: 60%
Floor space ratio: 200%

Property No.2: Building property
Property Address: Atsugi City Sakai Jijou Aitsubo 1792-7
Residential Building No: 1792-7
Land Category (As Registered): Residential building (At present)
Building Structure (As Registered): 2 Floor wooden roof structure (Up to present)
Lot area (As registered): 40.48 square meters; Second floor: 31.39 square meters
Lot area (At present): First floor= 52.38 square meters
Second floor= 31.39 square meters
Building to land ratio: 60%
Floor space ratio: 200%
Floor Layout: 5 rooms with separate dining room and kitchen (5DK)
The owner left the property with furnishings remained untouched.
Construction date: October 1979

>>

FACTS ABOUT THIS PROPERTY:

The owner expanded the first floor to about 10 square meters. The owner also used a portion of another private-owned property as a roadway access. This roadway access covers a wider area compared to the building floor area. The area covered by the first floor minus the total land area serves as the parking space area. Having a car would be an advantage as the property is located faraway from the train station. In the absence of private car, train can still be accessed through Aiko Ishida station of the Odakyu Odawara line located at a distance of about 1.94km.
Meanwhile, I could see that renovation is one of the drawbacks of this property. It is evident on the picture that the roof edges were damaged due to its prolonged exposure to rainwater, and thus it may need a repair.
Regarding the expanded portion implemented by the property owner, I assumed a major renovation of its foundation maybe necessary. The room which was built through expansion is somewhat tilted at an angle due to the damaged foundation. The foundation may have been damaged as the ground floor is evidently at tilted angle which I suppose would cause a ball to freely roll on its own when placed on it.
A repair would be necessary as floor spots and blemishes on the ceiling were evident on the second floor due to rainwater which leaked through the roof.
The Japanese law stipulates that a property lot subject to house construction should have more than 2 meter wide of space area where there is 4 meter wide of public road. However, this particular property does not meet such requirement. Thus, a permit from the City Ward Office would be needed in order to demolish the old house from this property and construct a new building. However, there’s no need to get a city government permit to renovate and use the old house.
Rough estimated registration tax will be JPY 160,000 Rough estimated porperty tax will be JPY 220,000. Extreme damage was evident on this foreclosed property. While this property was auctioned twice through a standard bidding and special bidding sale, still no one attempted to bid. Thus, they set the clearance standard price at a lower bidding price.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 70,000 x 12 months

2) Possible winning bid amount: JPY 2,100,000

3) Renovation and maintenance: JPY 2,000,000

Expected yield/ ROI: 20 % ( No.1 / (No. 2 + No. 3)) x 100).

>>

PICTURE

Mansion in Yokohama City

Bidding Duration: October 21, 2009 to October 28, 2009

((Monthly rental fee = 55,000 JPY x 12) / 3,800,000 JPY ) x 100 = 17% estimated ROI
>>
Nearest station from the foreclosed property:
JR 京浜東北線 山手駅 北東方 - 1.8 Kilometers.

Other nearest stations:

1) みなとみらい線 元町/中華街駅 (East-West side) - 1.59 Kilometers

2) JR 京浜東北線 石川町駅 (East side) - 1.97 Kilometers

3) みなとみらい線 日本大通り駅 (East-West side) - 2.47 Kilometers

4) JR 京浜東北線 関内駅 (East side) - 2.8 Kilometers

5) 横浜市営地下鉄ブルーライン 関内駅 (East side) - 2.8 Kilometers

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 1,930,000

Bargain Selling price: JPY 1,544,000

Category: Mansion

Room No.: 304

Floor No.: 3rd floor, with 17.12 square meters

Date constructed: February 1992

>>

FACTS ABOUT THIS PROPERTY:

This property is owned by three individuals. The highest bidder can get the ownership of the entire property. There is a tenant during the inspection of Court Office. Monthly rental fee is JPY 70,000. Since the property management fee is JPY 14,870, the net rental income is about JPY 55,000. Highest bidder is the priority for the ownership than current tenant. Tenant can be evicted without filing a lawsuit.
The property owner has the obligation to pay for the unpaid property management fees. Thus, the highest bidder must take this obligation. The amount that should be paid is about JPY 600,000.
As we can see on the picture, there are many garbage inside the property. The tenant is untidy and undisciplined, thus, could also possibly fail to pay the rent, so the highest bidder should consider this risk. However, other bidders might have the same impression, so, there is a possibility that the winning bid amount is lower. Furthermore, the mansion is a bit far from the train station, thus, there is a possibility to get at a lower winning bid amount.

Bid amount is JPY 55,000 x 12 / 0.15 = JPY 4,400,000 - JPY 600,000 = JPY 3,800,000

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 55,000 x 12 months

(JPY 70,000 - JPY 14,870 property management)

2) Possible winning bid amount: JPY 3,800,000

3) Debt and maintenance: JPY 600,000

Expected yield/ ROI: 17 % ( No.1 / No. 3) x 100).

>>

PICTURE

Lot property in Kadoma City

Lot property in Kadoma City
Property Address: Osaka-fu Kadoma City, Kishiwada 3-chome 904-60
Clearance standard price: 610,000yen
The land including a building built on it comprised this property.
Property land area: 31 square meters
Building floor area: First floor = 25 meters, Second floor = 21 square meters
>>
FACTS ABOUT THIS PROPERTY:
On this property, the tenant pays a monthly rental fee of 60,000 yen. The nearest train station is located 3, 500 meters (or 3.5km) away from the property, thus it would be difficult to find the succeeding tenant. However, I think there’s no problem as long as current tenant will not leave the property. In addition, during the past 30 years since the building was built, there’s no renovation at all. Thus, a repair would be necessary upon the tenant’s request.
There was bid opening on October 1, 2009.
60,000 JPY x 12 / 1,312,222 JPY x 100 = 54 percent (54%)
There were 11 tenders.
Definitely, foreclosed property occupied with tenants is highly in demand.
>>
PICTURE

Lot property in Hidaka City

Bidding Duration: October 1, 2009 to October 8, 2009

(Monthly rental fee = 60,000 JPY) x 12 / 2,610,000 JPY estimated winning bid amount) x 100 = 27%
>>
Nearest station from the foreclosed property:
Musashi Takahagi station of the JR Kawagoe line - 1.57 Kilometers.

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 2,100,000

Category: Lot property

1) Land parcel at Hidaka City, Takahagi 3 chome 127-52
Lot area: 99 square meters
2) Land parcel at Hidaka City, Takahagi 3chome 128-38
Lot area: 9.91 square meters

>>

FACTS ABOUT THIS PROPERTY:

This time, only the land parcel will be auctioned. The building built on the parcel is owned by child (B) of parcel owner (A). Regarding the use of the land parcel, there is no lease of agreement contract in between the parcel owner (A) and the child (B). Thus, if a successful bidder (C) acquired the land parcel, building owner/child (B) cannot enforce any power or authority over the use of the foreclosed parcel.The building owned by child (B) was only built in 2007. As the building is still brand-new, child(B) does not want to demolish it. I would say this property would become a good investment when successful bidder (C) enters into a contract lease agreement with child (B) that would enable(C ) to collect a monthly rental fee from (B). If it happens that (B) would not want to acknowledge the binding contract lease agreement, then (C) should petition the court to order the demolition of the building, and in the end it is highly likely that the court will favor the petition of (C).

The clearance standard price for this particular property is 2,100,000JPY.
If monthly rental fee collection amounts to 60,000 yen, then the computation of the return rate would be: 60,000JPY x 12 / 2,610,000JPY x 100 =27%
So that’s the advantage you could get from bidding only the land parcel.

Now, if you win the building through the auction and then rent it out, you (the winning bidder) would also have to pay for the building renovation should that be necessary. However, if you only bid for the land parcel, then there no such obligation like payment for renovation. And with that, it will foster a good investment.

>>

PICTURE

Apartment room in Sayama City

Bidding Duration: October 1, 2009 to October 8, 2009

((Monthly rental fee = 36,000 JPY x 12) / 2,240,000 JPY ) x 100 = 19%
>>
Nearest station from the foreclosed property:

Seibu shinjuku line sayamashi station (西武新宿線　狭山市駅) - 0.3 Kilometers

>>
PROPERTY DETAILS:

Standard Clearance price: 1,640,000 JPY

Category: Apartment

Room No.: 312

Floor Area.: 19.39 square meters

Property location no.:

Sayama city irumagawa (狭山市入間川二丁目　２６６３番地１０、２６６２番地)

>>

FACTS ABOUT THIS PROPERTY:

This apartment room is used for employee rental purpose. The company leased this room and rented-out to its employee in a discounted amount. This kind of incentive is given to a highly-skilled employees of a Company. In this case, that company rented this room, the possibility of debt to the owner is very low.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 36,000 x 12 months

(JPY 50,000 - JPY 14,000 property management)

2) Standard Clearance price: JPY 1,640,000

3) Debt and maintenance: JPY 600,000

Expected yield/ ROI: 19% ( No.1 / (No.2 + No.3 ) x 100).

>>

PICTURE

Apartment in Fujimino City, Saitama Prefecture

Bidding Duration: October 1, 2009 to October 8, 2009

((Monthly rental fee = 40,000 JPY x 12) / 3,700,000 JPY ) x 100 = 12%
>>
Nearest station from the foreclosed property:
Tobu tojo line fujimino station (東武東上線　ふじみ野駅) 1.28 Kilometers.

Other nearest stations:

東武東上線　上福岡駅　南方 - 1.07 Kilometers

東武東上線　鶴瀬駅　北西方 - 3.04 Kilometers

東武東上線　新河岸駅　南東方 - 3.33 Kilometers

>>
PROPERTY DETAILS:

Standard Clearance price: 2,640,000 JPY

Category: Apartment

Room No.: 101 (3LDK type)

Floor No.: 1st floor, with 67.04 square meters

>>

FACTS ABOUT THIS PROPERTY:

This apartment is located at Fujimino City, Saitama Prefecture. This kind of property is popular because express trains stop on the nearest station. The monthly property management cost is JPY 21,680.

During the inspection of Court Office, it was discovered that the former owner was died on the property. But, it is not a suicidal nor a murder cause of death. In this case, when this property is open for lease the rent fee will become lower. Therefore, only few interested bidders will tender their bid on this kind of property. If the winning bid is low, there is a possibility for good return-on-investment. It doesn't mean that now the rental fee is low, it will continue for long time. The rent fee might goes up in the long run.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 40,000 x 12 months

(JPY 60,000 - JPY 20,000 property management)

2) Possible winning bid amount: JPY 2,200,000

3) Debt and maintenance: JPY 1,000,000

4) Renovation cost: JPY 500,000

Expected yield/ ROI: 12% ( No.1 / (No.2 + No. 3 + No. 4) x 100).

>>

PICTURE

Building property in Irumashi City

Bidding Duration: October 1, 2009 to October 8, 2009

>>
Nearest station from the foreclosed property:
Seibu ikebukuro line irumashi station - 1 Kilometer.

>>
PROPERTY DETAILS:

Standard Clearance price: JPY 9,560,000

Address: Iruma city toyooka 5 chome (入間市豊岡五丁目)

Category: Building

>>

FACTS ABOUT THIS PROPERTY:

This is a 3 storey building. Only 1 kilometer away from the Irumashi station. The standard clearance price is JPY 9,560,000. Floor areas are: 1st floor is 27.47 square meters; 2nd and 3rd floor both have about 51.03 square meters. The lot area where this building is located has 100 square meters wide and the connected land, a public road area. The debtor is currently residing on the 2nd and 3rd floor. And the 1st floor is being used as Office by the company being managed by debtor. The successful bidder can evict the debtor without having a legal court proceedings. The building was constructed 13 years ago. Generally, the building is still new and this is very rare case to put on foreclosures. The expected yield for this property is 17%.

>>

PICTURE

Building and Lot in Kawagoe City, Saitama

Bidding Duration: October 1, 2009 to October 8, 2009

(Monthly rental fee = 70,000 JPY) x 12 / 4,190,000 JPY estimated winning bid amount) x 100 = 20%
>>
Nearest station from the foreclosed property:
Kawagoe station - 3 Kilometers.

>>
PROPERTY DETAILS:

Standard Clearance price: 4,190,000 JPY

Category: Building and lot

>>

FACTS ABOUT THIS PROPERTY:

Kawagoe is the most popular City in Saitama Prefecture. There are many residents from this City who usually go to Tokyo, so finding a tenant would be very easy. Only 3 kilometers away from the Kawagoe station. The standard clearance price is 4,190,000 JPY. Lot area is about 90 square meters. Building total floor area for 1st and 2nd floor is about 77 square meters. The building was made of wood.

>>

PICTURE

Kawagoe station

Bidding result of House and Lot in Edogawa, Nishi-Kasai

Bid opening of this property House and Lot in Edogawa Nishi-Kasai has been announced. The winning bid amount is JPY 7,550,000 . There are 11 bid entries. The projected yield is around 20%. One of our Clients really like to win this property.