![[Assessed 106.7%] Apartment building in Kita, Tokyo — 12 min from Motohasunuma Sta.](https://img.rakumachi.jp/c/property/LzKtHMseM7Ucc3cbeeSMag__/117593234_x4y4)
[Assessed 106.7%] Apartment building in Kita, Tokyo — 12 min from Motohasunuma Sta.
Property Overview
| Location | Kita, Tokyo |
| Nearest Station | Toei Mita Line Motohasunuma Sta. |
| Walk | 12 min walk |
| Assessed Ratio | 106.7%Assessed 106.7% |
| Price | ¥69,800,000 |
| Type | Apartment building |
| Expected Yield | 7.94% |
| Structure | Wooden |
| Built | Built Oct 2017 (8 years old) |
| Land Area | 123.51㎡ |
| Building Area | 108.68㎡ |
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 | ¥69,800,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥59,284,800 |
| Building assessed value | ¥15,215,200 |
| Total assessed value | ¥74,500,000 |
| Asking price | ¥69,800,000 |
| Assessed ratio | 106.7% |
Calculation basis
- Land = road price ¥480,000/m² × land area 123.51m²
- Building = replacement cost ¥220,000/m² × floor area 108.68m² × remaining life 14y ÷ statutory life 22y
- Built Oct 2017 (8 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +17.1%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 410,000 | — |
| 2025 | 440,000 | +7.3% |
| 2026 | 480,000 | +9.1% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
The share-house format is the crux of this valuation. We set out the basis for the figures, and separately how the building differs from an ordinary apartment block.
What We Could Not Confirm
- Rooms of 7 sqm are far smaller than an ordinary studio. Rent levels, tenant profile and the eventual buyer pool all differ from a conventional apartment, so the share-house business itself needs separate assessment.
- The share-house operation is outsourced under a blanket contract. The operator, terms and whether it can be terminated are not stated.
- With effectively one site photograph, the level difference between site and road is unverified by photo. Terrain data shows flat ground, but a site visit is needed.
- The income figure is a full-occupancy projection. Actual occupancy and per-room rents are not given.
- The utilisation and revenue contribution of the two meeting rooms 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
Neighborhood ② Dining Near the Station
About This Property
A share-house building in Nishigaoka 1-chome, Kita Ward, Tokyo, a 12-minute walk from Motohasunuma Station on the Toei Mita Line. Akabane Station on the JR Saikyo Line is 14 minutes away. A convenience store sits about 146 metres from the property.
The land measures 123.51 sqm and the building 108.68 sqm — two-storey wooden construction built in October 2017. The layout comprises eight private rooms of 7.00 sqm each plus two rentable meeting rooms, and the listing states explicitly that the building operates as a share house. It is fully tenanted with a gross yield of 7.94 percent. Tenure is freehold, fronting 5.8 metres onto a public road to the east.
Applying the fiscal 2026 inheritance-tax road price of 480,000 yen per sqm to the 123.51 sqm plot gives a land value of 59.28 million yen. Against a 22-year statutory life for wooden construction, the 8-year-old building retains 15.22 million yen, for a combined 74.50 million yen. Against the 69.8 million yen asking price the assessed ratio is 106.7 percent. The road price has risen 17.1 percent over three years, from 410,000 to 480,000 yen. The leasehold ratio symbol is C, or 70 percent.
Rooms of 7 sqm are far smaller than an ordinary studio, and both the rent level and the tenant profile differ from a conventional apartment block. The only site photograph is a single exterior shot, so any difference in level between the site and the road remains unverified. The research section below sets out what we were able to verify.
Estimated Financing
Suggested Lenders
※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.
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