[Assessed 96.3%] Building Plot a 20-Minute Walk from Ishikawacho Station, Minami-ku, Yokohama

A building plot in Hiraku, Minami-ku, Yokohama, a 20-minute walk from Ishikawacho Station on the JR Negishi Line. Ishikawacho adjoins Motomachi and Chinatown and is two stops from Yokohama on the Negishi Line; Yamate Station and Isezaki-chojamachi on the Blue Line subway are also within walking distance, giving a choice of three stations. A Lawson is a 4-minute walk away and an Angel supermarket 6 minutes.

The land is 88.77 sqm (26.85 tsubo, per the registry) freehold, zoned as residential land with no construction tie-in. It sits in a Category I low-rise exclusive residential district with a 60% building coverage ratio and 100% floor area ratio, within a quasi-fire-prevention zone. An old house stands on the plot, which fronts a private road 2.3m wide to the south-west along about 8.4m; a share of that road is acquired separately.

The inheritance-tax roadside land price is 135,000 yen/sqm. Using the effective plot area of 82.00 sqm after the setback deduction, the land's assessed value is about 11.07 million yen — an assessed-value ratio of 96.3% against the asking price of 11.5 million yen. The roadside price has held flat at 135,000 yen for three years.

Note that the fronting road is only 2.3m wide and a setback is required. See the research notes below for details.