[Assessed 133.2%] Apartment building in Hino, Tokyo — 11 min from Takahatafudo Sta.

A three-storey reinforced concrete apartment building with 15 units in Minamidaira 4-chome, Hino, an 11-minute walk from Takahatafudo Station on the Keio Line. Takahatafudo serves both the Keio Line and the Tama Monorail, with Shinjuku about 35 minutes away by limited express. Minamidaira Station is also a 21-minute walk.

Built in September 1993 and now 33 years old, the building offers 1,037.38 sqm of floor area on a 1,876.46 sqm site. The building is small relative to the land: against the Category 1 exclusively low-rise residential zoning (40% building coverage, 80% floor area ratio), the current floor area ratio is about 55%. The site fronts a 4.0m public road on the east side, the land is freehold, and there is no private road burden or setback requirement. No rebuilding restrictions, cliff ordinances, or leasehold arrangements are noted. The property is tenanted and sold with tenants in place, with projected annual rent of 17.26 million yen and a gross yield of 5.85%.

The assessment breaks down into roughly 290.85 million yen of land and 101.97 million yen of building; against the 47-year statutory life for reinforced concrete, 14 years of remaining life carry building value. The land alone nearly covers the asking price, but 26% of the assessment sits in the building and that portion declines each year. A 5.85% gross yield is not high among the income properties we cover.

We reviewed the three exterior photos. The building and parking area sit at the same level with no step from the road surface, and the entrance approach runs level from the road to the door with only a 2-3 step porch (roughly 30-40cm). The decorative concrete wall around the site meets the parking asphalt at its base and the neighbouring houses beyond it stand at the same level, so we judged it a screening and boundary wall rather than a retaining structure. National elevation data also shows this block at 71.2-73.4m, essentially level, with the 80-115m hills lying to the south and south-east.

Please note: the listing map is withheld (coordinates blank), so we could not pin down the exact location. We inferred the eastern block between the Keio Line and Kitano Kaido from the stated walking times and district boundaries, and took the roadside price from there. Distances to nearby facilities in this article are measured from the district centroid, not from the property.