[Assessed 84.2%] Apartment building in Noda, Chiba — 18 min from Noda-shi Sta.

An apartment building in Kamihanawa, Noda City, an 18-minute walk from Noda-shi Station on the Tobu Noda Line. Commodity Iida Noda and Gyomu Super Noda sit around the station, and the Tobu Noda Line runs towards both Kashiwa and Omiya.

The building is wooden, two storeys, with six 2LDK units and 365.92 sqm of total floor area, built in January 2014 and so twelve years old. Each unit is about 61 sqm, sized for families. The land is 417.1 sqm held in freehold. It is currently tenanted as an owner-change sale, with a full-occupancy yield of 8.01% (annual income 5.034 million yen). Photographs show the site, parking area and ground floor all at the same level and completely flat, with no retaining wall or stepped access.

The inheritance-tax roadside land value for the frontage is 40,000 yen/sqm. Calculating on the effective site of 407.61 sqm after deducting 9.49 sqm for the setback, the land assesses at roughly 16.30 million yen; adding the building assessment of roughly 36.59 million yen (wooden, 10 years of useful life remaining) gives about 52.90 million yen, or 84.2% of the 62.80 million yen asking price.

At twelve years old the building accounts for 70% of the assessed value. Please confirm details with the listing page and the agent.