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[Assessed 84.3%] Condominium building in Aoba Ward, Yokohama, Kanagawa — 14 min from Tokaichiba Sta.
Assessed 84.3%Condominium buildingAoba Ward, Yokohama, KanagawaTokaichiba Sta. 14 min walk

[Assessed 84.3%] Condominium building in Aoba Ward, Yokohama, Kanagawa — 14 min from Tokaichiba Sta.

Published: Sep 10, 2026Updated: Sep 10, 2026

Property Overview

LocationAoba Ward, Yokohama, Kanagawa
Nearest StationJR Yokohama Line Tokaichiba Sta.
Walk14 min walk
Assessed Ratio84.3%Assessed 84.3%
Price¥220,000,000
TypeCondominium building
Expected Yield6.69%
StructureReinforced concrete (RC)
BuiltBuilt Mar 1987 (39 years old)
Land Area731㎡
Building Area567㎡

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.

Kenbiya¥220,000,000View listing

Assessed Value Breakdown

Land assessed value¥153,510,000
Building assessed value¥31,848,511
Total assessed value¥185,358,511
Asking price¥220,000,000
Assessed ratio84.3%

Calculation basis

  • Land = road price ¥210,000/m² × land area 731m²
  • Building = replacement cost ¥330,000/m² × floor area 567m² × remaining life 8y ÷ statutory life 47y
  • Built Mar 1987 (39 years old)

Official Road Price Trend (last 3 years)

Cumulative change 2024 → 2026: +5.0%
YearRoad price (JPY/m²)YoY
2024200,000
2025205,000+2.5%
2026210,000+2.4%

Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.

How We Checked This Property

Taking the listing's phrase "elevated location" as our cue, we went to the 2026 roadside land price map, national survey data and the published photographs, recording separately what we could and could not confirm.

Locating the road price

We traced the local streets of Satsukigaoka on roadside land price map 69169 for 2026. Satsukigaoka spans sheets 69155, 69169 and 69183, but most of the 69183 side is urbanisation control farmland rather than residential blocks. Across the core blocks around the municipal Satsukigaoka Elementary School and community house, 210,000 yen per sqm is the most common value, followed by 215,000 and 205,000. The 185,000 to 195,000 band is confined to the outer edge from the Tomei Expressway frontage across to the east of Satsukigaoka Park, which we judged does not apply to a property in the Category I exclusively low-rise residential blocks. Following the same street across three years gives 200,000 in 2024, 205,000 in 2025 and 210,000 in 2026, and the leasehold ratio symbol is D (60 percent) throughout in all three years.

View source
On-site check from photos

We examined the on-site images among the nine published, including the exterior and the frontage road. The site sits above the 6.8 metre public road to the north-east, with a low mosaic-tiled retaining wall running the full width of the frontage and planting above it. We cross-checked the retained height against two references: a pixel ratio to the 9.0 to 9.8 metre overall height of the three-storey building, corrected for perspective, gives 0.67 to 0.91 metres; direct comparison with a folding refuse box beside the wall (standard height 0.6 to 0.8 metres) puts the western end at about 0.5 metres. The maximum is about 0.9 metres, below our 1 metre exclusion threshold. The vehicle entrance is a gentle slope, and there is no stair access or sign of a flagpole lot.

Rights and restrictions

The land is freehold. Zoning is Category I exclusively low-rise residential with 50 percent building coverage and an 80 percent floor area ratio, in an urbanisation promotion area. The site fronts a 6.8 metre public road to the north-east. There is no mention of a rebuilding prohibition, cliff ordinance, setback or a road designated under the proviso. No private-road burden is stated either, and the listing site's land area is shown net of private roads, so we made no further deduction.

Building valuation assumptions

Reinforced concrete, three storeys, completed March 1987, 15 units and 567 sqm of floor area. At 39 years against the 47-year statutory life for reinforced concrete, 8 years remain and the building assesses at 31.85 million yen, about 17 percent of the total. The 80 percent floor area ratio caps floor space at 584.8 sqm, and the existing 567 sqm uses 97 percent of that, so rebuilding to the same scale would be difficult.

Effective land area

We assessed on the stated 731 sqm of land. The photographs show a long frontage directly onto the 6.8 metre public road, with no sign of an access strip. The listing makes no mention of sloped ground either.

Neighborhood check

The listing gives no names or distances for nearby facilities. Those in this article were gathered from OpenStreetMap within 800 metres of Tokaichiba Station and do not come from the listing. Distances are straight-line distances from the station. Several convenience stores fall within that radius, but no supermarket did.

What We Could Not Confirm

  • The published photographs cover only the north-east frontage; the side and rear boundaries do not appear in any image. The frontage wall retains no more than about 0.9 metres, but the area is developed hillside with a 34 metre elevation range over roughly 600 metres, so walls on the sides and rear need checking on the ground.
  • The listing does not give the floor area of individual units. Dividing 567 sqm by 15 units gives about 37.8 sqm each, but the share of common areas is unknown.
  • The existing 567 sqm of floor area uses 97 percent of the 584.8 sqm cap, so rebuilding at the same scale is unlikely to be possible.
  • There are only three parking spaces for 15 units, at 11,000 yen a month. The listing says nothing about parking availability nearby.
  • The address stops at "Satsukigaoka" with no chome or lot number, so the roadside price is the most common value across the residential blocks. Local streets range from 185,000 to 220,000 yen per sqm.

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

NewDays
1 min walk from the station

A convenience store about 21 metres from Tokaichiba Station.

Source
7-Eleven
2 min walk from the station

A convenience store about 78 metres from Tokaichiba Station.

Source
Lawson Three F
2 min walk from the station

A convenience store about 85 metres from Tokaichiba Station.

Source

Neighborhood ② Dining Near the Station

Doutor Coffee Shop
1 min walk from the station

A coffee shop about 47 metres from Tokaichiba Station.

Source
Hidakaya
1 min walk from the station

A Chinese restaurant about 49 metres from Tokaichiba Station.

Source
Saizeriya
3 min walk from the station

An Italian restaurant about 161 metres from Tokaichiba Station.

Source

About This Property

We will start with what we could not confirm. The published photographs cover only the north-east frontage; not a single image shows the side or rear boundaries. Along the frontage road there is a low retaining wall, and measuring it against two reference objects put the retained height at 0.5 to 0.9 metres — below the 1 metre we use as an exclusion threshold. However, measuring the Satsukigaoka area with the national 1-metre laser survey gives elevations from 19.0 to 53.3 metres, a 34 metre range over roughly 600 metres. This is developed hillside, and walls of more than a metre could well exist elsewhere on the site, so please check the sides and rear on the ground.

Second, there is almost no room to rebuild at the current scale. The zoning is Category I exclusively low-rise residential with an 80 percent floor area ratio, giving a cap of 584.8 sqm on the 731 sqm site. The existing floor area is 567 sqm, which uses 97 percent of that cap. Assume that rebuilding to the same size would not be possible.

The property is in Satsukigaoka, Aoba Ward, Yokohama, a 14-minute walk from Tokaichiba Station on the JR Yokohama Line, with Aobadai Station on the Tokyu Den-en-toshi Line also 20 minutes on foot. It fronts a 6.8 metre public road to the north-east along a long boundary and is not a flagpole lot. Convenience stores cluster within one to two minutes of the station.

The building dates from March 1987: reinforced concrete, three storeys, 15 units in a mix of 1LDK and 2DK layouts. It is currently tenanted, with 14,728,800 yen of annual income at full occupancy and a gross yield of 6.69 percent. Parking is three spaces at 11,000 yen a month. The listing does not give the floor area of individual units.

The assessment breaks down into 153.51 million yen of land (210,000 yen per sqm under the 2026 roadside land price, times 731 sqm) and 31.85 million yen of building, totalling 185.36 million yen. Against the 220 million yen asking price that is an assessed ratio of 84.3 percent. At 39 years against the 47-year statutory life for reinforced concrete, 8 years remain and the building accounts for about 17 percent of the assessment; the land carries almost all of it. Roadside land prices in Satsukigaoka have risen 5,000 yen a year: 200,000 in 2024, 205,000 in 2025 and 210,000 in 2026.

On the roadside price we should show the spread. Local streets in Satsukigaoka range from 185,000 to 220,000 yen per sqm, and 210,000 is the most common value across the core blocks around the municipal Satsukigaoka Elementary School and community house. Taking the conservative 205,000 still gives 82.6 percent, and 200,000 gives 80.9 percent — both above 80 percent. It would fall below 80 percent only at 195,000 or less, and that band appears solely on the outer edge, from the Tomei Expressway frontage across to the east of Satsukigaoka Park, which does not apply to a property inside the low-rise residential blocks.

Estimated Financing

Assessed value ¥185,358,511 → estimated loan ¥185,350,000 (84% of the asking price)

Actual loan availability, amounts and terms are subject to each bank's screening.

Suggested Lenders

関西みらい銀行
Regional bankAssessed-value focusedStrong with condominium buildings
土地から新築OK。 築古過ぎず、好立地で積算割合が高く、キャッシュフローが回る物件であれば、検討対象となる。 産休中はNG。 築古過ぎる場合は、信用金庫・信用組合のセゾンファンデックス保証付の不動産担保ローンが適す。
滋賀銀行
Regional bankAssessed-value focusedStrong with condominium buildings
土地から新築OK。 好立地で積算割合が高く、キャッシュフローが回る物件であれば、検討対象となる。 但し、産休中はNG。
スルガ銀行
Regional bankBorrower-profile focusedStrong with condominium buildings
富豪向け。 金融資産3000万円以上が検討対象。 行けるなら8割融資や9割融資が狙える。 金利は2%台、融資期間は35年。

General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.

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