[Assessed 107%] Condominium building in Hino, Tokyo — 4 min from Minamidaira Sta.

Warning: none of the three listings for this property has a ground-level exterior or front-road photo. Our judgment rests on a single oblique aerial photo (340 by 216 pixels even at full size) and drawings. In the aerial photo, cars enter the gravel parking area in front of the site directly from the road, and the parking area, surrounding lots, and road appear to be at the same level. The Geospatial Information Authority's 1 m LiDAR data also shows at most 1.7 m of elevation change across 100 m around the site (about a 2% grade), suggesting no steep drop. However, the aerial resolution cannot fully rule out a retaining wall or step of around 1 m, and the condition of the building exteriors could not be checked.

This is a 170,000,000 yen apartment building in Minamidaira 6-chome, Hino, a 4-minute walk from Minamidaira Station on the Keio Line. Heights Yano consists of two reinforced concrete two-story buildings sold together, with 24 one-room units, built in February 1985 (41 years old). The land is 939.64 sqm (registered, about 284 tsubo) and the two buildings total about 413 sqm. All but one unit are tenanted, with a listed projected annual income in the 11.1 million yen range and a gross yield of 6.52%. The land is freehold, fronting an 8 m public road on the southeast, and zoned Category 1 low-rise residential (40% coverage, 80% floor area ratio).

The assessed ratio is 107.0%. The 2026 inheritance-tax road price on the public road along the southeast side of the block is 175,000 yen per sqm (road price map 61051), so the land alone is worth 164.4 million yen, 96.7% of the price. With 41 years elapsed against the 47-year statutory life for reinforced concrete, six years remain, and the buildings (413.36 sqm combined) are assessed at about 17.4 million yen. The road price rose 9.4% over three years, from 160,000 yen in 2024 to 165,000 yen in 2025 and 175,000 yen in 2026.

The building area is written differently across listings: 417.36 sqm (two buildings combined) in this listing, and 278.24 plus 139.12 sqm and 274.24 plus 139.12 sqm in two other agents' listings. We took the smaller figures for a combined 413.36 sqm. Using only the larger building (278.24 sqm) gives 103.6%, and the land alone gives 96.7%, so the conclusion does not depend on how the area is counted. The surrounding road price band is 165,000 to 180,000 yen per sqm; even the lowest, 165,000, gives 101.4%.

Separate from the 939.64 sqm land, a public-use road of 89 sqm (one-half share) is attached. It is a separate parcel not included in the land area, so it is excluded from the assessment. The site itself fronts the southeast public road directly. This property has been listed by another agent since July 16, 2026, and there are three listings including this one (registered September 2). About a month and a half on the market can be leverage in price negotiations, but whether there is a reason it has not sold needs checking.

In short, this is a 284-tsubo site four minutes from Minamidaira Station with two reinforced concrete buildings of 24 units, where the land alone is 97% of the price and land plus buildings is 107%. With no ground-level photos at all, read it on the assumption that retaining walls, steps, and building condition must be verified on site.