[Assessed 120.4%] Apartment building in Kawaguchi, Saitama — 14 min from Nishi-Kawaguchi Sta.

The listing template used for this property has no road-frontage field at all, so neither the width of the street nor whether it is public or private can be determined. We searched the other three portals and Kenbiya for the same property and found no second listing, so we could not verify it elsewhere. We have published properties under this uncertainty before, and six of them later turned out not to be rebuildable. Anyone considering a purchase should confirm the road category and rebuilding rights with the municipal office and the listing agent.

The building stands in Namiki-motocho, Kawaguchi, a 14-minute walk from Nishi-Kawaguchi Station on the JR Keihin-Tohoku Line, with Kawaguchi Station 16 minutes away. Ario Kawaguchi is about 340 metres away in a straight line, and an Ito-Yokado and a Seven-Eleven are both within walking distance. Using the Geospatial Information Authority's 1-metre lidar data we measured a 40-metre square around the site and found elevations of 2.3 to 2.6 metres, a range of under 30 centimetres. The exterior photograph likewise shows the site level with its neighbours, with no retaining wall or stepped approach.

The building, completed in March 2019, is a two-storey wooden structure of 196.80 square metres divided into ten one-room units and named Pines Namiki-motocho. Each unit is about 19.7 square metres, with a 9.10-square-metre living room, a 4.62-square-metre kitchen and entrance, and a separate bathroom and changing area. The land is 362.99 square metres by the registry with no private-road burden, in a quasi-industrial zone with a 60 per cent building coverage ratio and a 200 per cent floor area ratio. The property is fully tenanted and sold with the leases in place; the listing quotes annual rental income of 8.256 million yen and a gross yield of 6.50 per cent.

Working from the fiscal 2026 roadside land price map (sheet 28153), we traced the residential streets of Namiki-motocho and adopted 340,000 yen per square metre. The land alone is assessed at 123.42 million yen and the seven-year-old building retains 29.52 million yen, giving a total of 152.94 million yen and an assessed value ratio of 120.4 per cent. The building accounts for 19.3 per cent of that total, so the ratio will fall as the structure ages. The seller states that the asking price is below land value; on the conservative 340,000 yen per square metre we adopted, the land alone comes to 123.42 million yen and the 127 million yen asking price exceeds it by 2.9 per cent. The seller's own figure, equivalent to about 380,000 yen per square metre, is what makes the claim hold.

The transaction is handled by an agent acting for the seller, and a brokerage fee of 3 per cent of the purchase price applies on top. The assessed value ratio is calculated on the listed price and does not include that fee.