[Assessed 86.8%] Apartment building in Nakahara-ku, Kawasaki — 13 min from Shin-Maruko Sta.
Property Overview
| Location | Nakahara-ku, Kawasaki, Kanagawa |
| Nearest Station | Tokyu Toyoko Line Shin-Maruko Sta. |
| Walk | 13 min walk |
| Assessed Ratio | 86.8%Assessed 86.8% |
| Price | ¥54,000,000 |
| Type | Apartment building |
| Expected Yield | 5.8% |
| Structure | Light steel frame |
| Built | Built Jan 1996 (30 years old) |
| Land Area | 134.19㎡ |
| Building Area | 89.42㎡ |
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.
| athome | ¥54,000,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥46,885,500 |
| Building assessed value | ¥0 |
| Total assessed value | ¥46,885,500 |
| Asking price | ¥54,000,000 |
| Assessed ratio | 86.8% |
Calculation basis
- Land assessed value was entered manually by the operator.
- Building = replacement cost ¥220,000/m² × floor area 89.42m² × remaining life 0y ÷ statutory life 22y
- Built Jan 1996 (30 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +9.8%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 410,000 | — |
| 2025 | 430,000 | +4.9% |
| 2026 | 450,000 | +4.7% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
Because this is a tender sale, the listing HTML carries no property coordinates, so our usual coordinate calibration was unavailable. Here is how we verified the result instead — by showing that even the cheapest roadside price in the district does not change it — and how we measured the flagpole strip from the photographs.
What We Could Not Confirm
- This is a tender sale, so acquisition at 54 million yen is not assured. Above roughly 58.6 million yen the valuation ratio falls below 80%.
- The frontage is exactly 2.0 metres on a flagpole lot. Confirm with Kawasaki City how much can be rebuilt as a multi-unit dwelling under local ordinances.
- For the 4.0-metre private road at the frontage, the listing does not state whether an ownership share is included or whether consent for passage and excavation has been obtained.
- The listing says the units are tenanted but gives neither the occupancy of the four units nor the individual rents. Ask for a rent roll.
- The length of the flagpole passage is our estimate from photographs. Confirm the pole area against a survey drawing.
※ 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
An important caution first. This property is being sold by tender, and the 54 million yen shown in the listing is a reserve price. Bids close at 10:30 on 13 September 2026 and the highest bidder takes the property. In other words, you may not be able to buy at this price, and the actual acquisition cost could come in higher. The 86.8% valuation below likewise assumes acquisition at 54 million yen. The listing will close once the date passes.
The property is a whole apartment building a 13-minute walk from Shin-Maruko Station on the Tokyu Toyoko Line, with Musashi-Kosugi Station and Musashi-Nakahara Station on the JR Nambu Line each a 14-minute walk — three stations within reach. Shibuya is just under 20 minutes away and Tokyo Station about 20. It is a two-storey light-gauge steel building completed in January 1996 with four units, all 1K. It is currently tenanted and sold with the leases in place, with projected annual rent of 3.132 million yen and a gross yield of 5.80%.
At 30 years old the building is past the 22-year statutory useful life for light-gauge steel, so our valuation assigns it zero value. The land is 134.19 square metres by registry, but the frontage is exactly 2.0 metres onto a 4-metre private road to the south — a flagpole lot. The entrance photograph in the listing shows a roughly 2-metre-wide passage running back from the road, so we deducted the pole as 2.0 metres by 15 metres, or 30 square metres, leaving an effective area of 104.19 square metres. At the National Tax Agency's 2026 roadside price of 450,000 yen per square metre, the land comes to 46.88 million yen, or 86.8% of the reserve price. Without the deduction it would be 111.8%; we report the figure after it.
Two things are worth checking. One is the access: a 2.0-metre frontage is exactly at the legal minimum, and how much can be rebuilt as a multi-unit dwelling under Kawasaki's ordinances is worth confirming with the city in advance. The other is the private road — the listing says nothing about ownership shares or consent for passage and excavation. In the photographs, the area around the building, the road in front and the flagpole passage were all at the same level as the road, with no retaining wall, step or stair access.
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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