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[Assessed 84.3%] Apartment Building in Adachi-ku, Tokyo — 8 min from Yazaike Sta.
Assessed 84.3%Apartment buildingAdachi-ku, TokyoYazaike Sta. 8 min walk

[Assessed 84.3%] Apartment Building in Adachi-ku, Tokyo — 8 min from Yazaike Sta.

Published: Aug 20, 2026Updated: Aug 20, 2026

Property Overview

LocationAdachi-ku, Tokyo
Nearest StationNippori-Toneri Liner Yazaike Sta.
Walk8 min walk
Assessed Ratio84.3%Assessed 84.3%
Price¥199,700,000
TypeApartment building
Expected Yield3.57%
StructureWooden
BuiltBuilt Jan 1994 (32 years old)
Land Area660.2㎡
Building Area359.11㎡

Where This Property Is Listed

This property appears on the sites below. Listings matching on location, land area and building area are merged into a single article as the same property.

Rakumachi¥199,700,000View listing

Assessed Value Breakdown

Land assessed value¥168,351,000
Building assessed value¥0
Total assessed value¥168,351,000
Asking price¥199,700,000
Assessed ratio84.3%

Calculation basis

  • Land = road price ¥255,000/m² × land area 660.2m²
  • Building = replacement cost ¥220,000/m² × floor area 359.11m² × remaining life 0y ÷ statutory life 22y
  • Built Jan 1994 (32 years old)

Official Road Price Trend (last 3 years)

Cumulative change 2024 → 2026: +10.9%
YearRoad price (JPY/m²)YoY
2024230,000—
2025240,000+4.3%
2026255,000+6.3%

※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.

How We Checked This Property

The listing puts a figure on its own assessed ratio, so rather than take that on trust we measured the 2026 road price map ourselves and checked the fall across the site against photographs and elevation data.

Locating the road price

The listing states, as the seller's own claim, an inheritance-tax road price of JPY 270,000 per sqm and an assessed ratio of about 89.3%. Measuring sheet 51040 ourselves, the residential streets around this point are JPY 250,000, 255,000 and 265,000 per sqm, and the most common value across Nishiarai 5-chome is also 255,000. We have taken 255,000 and put the ratio at 84.3%.

View source
Locating the road price

We fixed the position from the property coordinates embedded in the listing page. Numbers 11, 23 and 19 in Nishiarai 5-chome were geocoded with the Geospatial Information Authority's address search and matched against the circled numbers on the map to calibrate its scale and origin. We ran the calculation twice, independently, anchored on 23 and on 11, and both put the property in the same place.

Locating the road price

We also checked that the choice of band does not change the conclusion. The neighbouring JPY 265,000 gives 87.6%, the lowest nearby value of JPY 250,000 gives 82.7%, and only the bottom of the range for Nishiarai 5-chome, JPY 240,000, brings it to 79.3%. We traced three years on the same street on the same sheet: JPY 230,000, then 240,000, then 255,000.

On-site check from photos

Of the five images we looked at the one exterior photograph of the site. The ground is exactly level with the asphalt parking area, with only 20 to 30 cm of foundation upstand. We cross-checked the scale three ways — the door height, the painted parking bay lines, and the window sills. No earth-retaining wall appears on the road side or the boundary. The external staircase in the middle of the building serves the first-floor units; it is not a stepped approach from the road.

On-site check from photos

We backed the flat reading from the photograph with the Geospatial Information Authority's 1 m elevation data. The property sits at 2.5 m, and four points within about 150 m range from 2.3 to 2.7 m — a spread of 0.4 m.

What We Could Not Confirm

  • The building exceeds 300 sqm of floor area. If it is arranged as a row house, the Tokyo Metropolitan Building Safety Ordinance requires an on-site passage at least 3 m wide, but the listing does not say whether it is a row house or a communal apartment block. The 7.40 m public road frontage with nine parking spaces opening onto it suggests the passage is wide, but this needs confirming.
  • The expected annual income of JPY 7.12 million is noted as including parking and vending machine income. The rent from the eight units alone is not stated.
  • The listed address goes only to the town name, with no block number. We derived the position from the coordinates on the listing page.
  • There is only one exterior photograph, and none showing the frontage road itself.
  • At 32 years old for a timber building, the history and schedule of major repairs are not stated.

※ Rather than reproducing the listing as-is, we verified the figures against public sources such as the official road price maps and the listing photos. This is not based on a site visit, so please confirm on site and with the seller before deciding.

Neighborhood ① Shopping Near the Station

Lawson Store 100
7 min walk from the station

About 232 m from the site. A convenience store. Location confirmed on OpenStreetMap. OpenStreetMap has no branch name registered, so only the chain name is given.

Source
Life
11 min walk from the station

About 398 m from the site. A supermarket. Location confirmed on OpenStreetMap. OpenStreetMap has no branch name registered, so only the chain name is given.

Source

Neighborhood ② Dining Near the Station

Hotto Motto
10 min walk from the station

About 113 m from the site. A bento shop. Location confirmed on OpenStreetMap. OpenStreetMap has no branch name registered, so only the chain name is given.

Source

About This Property

An apartment building in Nishiarai 5-chome, Adachi-ku, Tokyo, an 8-minute walk from Yazaike Station on the Nippori-Toneri Liner. A bento shop is about 113 m from the site, a convenience store about 232 m and a supermarket about 398 m.

Built in January 1994, it is a two-storey timber building of eight 2DK units with nine parking spaces and a vending machine. The land is 660.20 sqm (about 199.71 tsubo) and the building 359.11 sqm, both land and building held freehold. It is sold tenanted, with expected annual income of JPY 7.12 million and a gross yield of 3.57% — the listing notes that this figure includes the parking and vending machine income. Zoning is Category 1 Low-Rise Exclusive Residential with a 50% building coverage ratio and a 150% floor area ratio; the frontage is a 7.40 m public road to the west.

Against 660 sqm of land the building is 359 sqm, using about 54% of the permitted floor area — a small building for the size of the plot.

The inheritance-tax road price on the frontage is JPY 255,000 per sqm. Land assessed at JPY 168.35 million with the 32-year-old timber building at zero, past its 22-year statutory life, gives 84.3% of the JPY 199.7 million asking price. The listing itself claims a road price of JPY 270,000 and 89.3%; we have used the figure we measured on the map ourselves and quoted the lower number.

Estimated Financing

Assessed value ¥168,351,000 → estimated loan ¥168,350,000 (84% of the asking price)

※ Actual loan availability, amounts and terms are subject to each bank's screening.

Suggested Lenders

静岡銀行
Regional bankLand-value focusedStrong with apartment buildingsGood with older buildings
本業年収700万円以上が検討対象。 相続税路線価から算出した「土地の積算」が60%以上出ていれば、基本的にフルローンとなる。 修正後バランスシートも重視しており、属性枠だけで終了する訳ではない為、可能な限り「土地」が高積算の物件を買い進めていきたい。
L&Fアセットファイナンス
Non-bank lenderLand-value focusedStrong with apartment buildingsGood with older buildings
土地値が出る築古系が得意。 属性はほぼ問わない。 どんなに担保評価が付いたとしても8割融資が目安。 建物の価値に対してはほぼ担保評価を付けてくれない為、新築や築浅の物件は要注意。 但し、建売の売れ残りや変形地等の場合は、土地が広くて担保評価が伸びたり、賃料が高くて収益還元評価が伸びたりして、思わずハマるケースがある。 また、産休中でも行けた、貴重な存在の金融機関である。
関西みらい銀行
Regional bankAssessed-value focusedStrong with apartment buildings
土地から新築OK。 築古過ぎず、好立地で積算割合が高く、キャッシュフローが回る物件であれば、検討対象となる。 産休中はNG。 築古過ぎる場合は、信用金庫・信用組合のセゾンファンデックス保証付の不動産担保ローンが適す。

※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.

Ask About This PropertyWe offer purchase consultation, brokerage and consulting services.

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