Editorial
A studio of about 5 million yen on the second floor of a building with three or four restaurants downstairs. It was dim, with no direct sunlight, and prone to pests at night, so we passed.
Contents
This is part of our series on properties we did not buy.
A restaurant occupied the ground floor, and a second-floor unit was for sale. Going to see the place yourself is the basic rule, because atmosphere that does not show in photos matters.
The price was reasonable for the market: a studio of about 5 million yen. I thought it might be a good one, and went to see it.
The second-floor room got no sunlight and was dim
The second-floor unit was wedged between buildings, so it received no direct sunlight and was always dim. When you opened the window, you faced the wall of the next building. It might work as a rental for people on night shifts. The repair reserve and management fees were reasonable too, and the numbers looked as if they could work. Even so, it is important to see the place with your own eyes.
Restaurants downstairs, and pests at night
Three or four restaurants occupied the ground floor, and the area felt dim. From my past experience, buildings with restaurants almost always have cockroaches. Rats can appear too.
They come out at night. By day they stay wary in their nests and cannot be seen; at night they crawl around looking for food. Even with the second-floor windows closed, in buildings like this pests can climb from the first floor to the second through small gaps such as ceiling vents in search of food.
The moment I saw it, I thought the restaurants must be busy. A shop that only reheats prepared food is one thing, but in a building with restaurants that cook and drain a lot of water, such as Chinese restaurants or ramen shops, I feel such pests are especially likely. However carefully a shop manages hygiene, drains tend to be a rich food source and a suitable habitat for them. Rats are the same.
Why we passed
For those reasons, I did not buy that property.
What this case shows
- Do not decide from photos alone. Go to the site and check sunlight, the view from the windows and the feel of the building.
- Check what shops are on the ground floor. In buildings with restaurants, think about odors and pests.
- Pests are often active at night. Check the building at night as well as by day.
- Even if fees are reasonable and the numbers seem to work, consider whether a tenant would be found and would want to live there.
This is a record of an individual’s own decision and is not a recommendation of any property or investment. Please consult a professional before making an actual decision.