![[Assessed 84.3%] Condominium building in Aoba Ward, Yokohama, Kanagawa — 14 min from Tokaichiba Sta.](https://www.kenbiya.com/upload/p4703/4703458/1772786070942-fvd.jpg)
[Assessed 84.3%] Condominium building in Aoba Ward, Yokohama, Kanagawa — 14 min from Tokaichiba Sta.
Property Overview
| Location | Aoba Ward, Yokohama, Kanagawa |
| Nearest Station | JR Yokohama Line Tokaichiba Sta. |
| Walk | 14 min walk |
| Assessed Ratio | 84.3%Assessed 84.3% |
| Price | ¥220,000,000 |
| Type | Condominium building |
| Expected Yield | 6.69% |
| Structure | Reinforced concrete (RC) |
| Built | Built Mar 1987 (39 years old) |
| Land Area | 731㎡ |
| Building Area | 567㎡ |
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 ratio | 84.3% |
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%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 200,000 | — |
| 2025 | 205,000 | +2.5% |
| 2026 | 210,000 | +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.
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
Neighborhood ② Dining Near the Station
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
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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