
[Assessed 104.7%] Apartment building in Totsuka Ward, Yokohama, Kanagawa — 10 min from Odoriba Sta.
Property Overview
| Location | Totsuka Ward, Yokohama, Kanagawa |
| Nearest Station | Yokohama Municipal Subway Blue Line Odoriba Sta. |
| Walk | 10 min walk |
| Assessed Ratio | 104.7%Assessed 104.7% |
| Price | ¥30,000,000 |
| Type | Apartment building |
| Expected Yield | 23.34% |
| Structure | Reinforced concrete (RC) |
| Built | Built Sep 1969 (57 years old) |
| Land Area | 165.34㎡ |
| Building Area | 264.41㎡ |
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 | ¥30,000,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥31,414,600 |
| Building assessed value | ¥0 |
| Total assessed value | ¥31,414,600 |
| Asking price | ¥30,000,000 |
| Assessed ratio | 104.7% |
Calculation basis
- Land = road price ¥190,000/m² × land area 165.34m²
- Building = replacement cost ¥330,000/m² × floor area 264.41m² × remaining life 0y ÷ statutory life 47y
- Built Sep 1969 (57 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +5.6%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 180,000 | — |
| 2025 | 185,000 | +2.8% |
| 2026 | 190,000 | +2.7% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
Rather than reprinting the listing, we calibrated five roadside-value map sheets against block coordinates from the Geospatial Information Authority to choose the representative road, and — the listing having no photographs at all — measured elevation across the whole district to establish what the terrain can tell us.
What We Could Not Confirm
- The listing carries no site photographs at all, so retaining walls, a step at the road, stair access, a flagpole shape and shared walls are all unjudged. The southern part of the district drops by up to 19.3 metres, so an inspection on site is needed.
- The building is legally non-conforming on both floor area and coverage ratios. It cannot be rebuilt at the same size, and any replacement would have less floor area.
- Part of the land carries a registered easement for a transmission line. No restricted area is stated, so we assess the land without deducting any, and the ratio may be higher than the reality.
- The notes state that the second and third floors are in poor condition and that doors may not open. A full refurbishment is effectively assumed, and those costs are not reflected in the price.
- The 23.34 percent gross yield is not based on actuals. The notes state that the rent for unit 103 and the second floor is calculated from past results and that the third floor was used as company housing with no rental record. The address is also withheld below chome level.
※ 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 whole apartment building in Kumizawa 2-chome, Totsuka Ward, Yokohama, a 10-minute walk from Odoriba Station on the Yokohama Municipal Subway Blue Line. Three convenience stores sit by the station, a supermarket about 300 metres away, and restaurants cluster around the station. Yokohama Station is about 20 minutes on the Blue Line.
A three-storey reinforced concrete building of five units on 165.34 sq m of land with 264.41 sq m of floor area, built in September 1969. Zoning is Category 2 medium-high residential, designated at a 60 percent building coverage ratio and a 150 percent floor area ratio; the notes state that both are exceeded, making this a legally non-conforming building that cannot be rebuilt at the same size. At 57 years old we carry the building at zero.
The 2026 inheritance-tax roadside land value is 190,000 yen per sq m, giving a land assessment of 31.41 million yen, or 104.7 percent of the 30 million yen asking price. The roadside value has risen 5.6 percent over three years from 180,000 yen in 2024.
Note that the listing carries no site photographs at all, so retaining walls, steps, stair access and shared walls are all unjudged. Part of the land also carries a registered easement for a transmission line. The notes state the second and third floors are in poor condition, so a full refurbishment is assumed.
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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