
[Assessed 158.8%] Apartment building in Higashi-Kurume, Tokyo — 20 min from Higashi-Kurume Sta.
Property Overview
| Location | Higashi-Kurume, Tokyo |
| Nearest Station | Seibu Ikebukuro Line Higashi-Kurume Sta. |
| Walk | 20 min walk |
| Assessed Ratio | 158.8%Assessed 158.8% |
| Price | ¥24,800,000 |
| Type | Apartment building |
| Expected Yield | 8.2% |
| Structure | Wooden |
| Built | Built Mar 1973 (53 years old) |
| Land Area | 225.03㎡ |
| Building Area | 150.7㎡ |
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.
| Rakumachi | ¥24,800,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥39,380,250 |
| Building assessed value | ¥0 |
| Total assessed value | ¥39,380,250 |
| Asking price | ¥24,800,000 |
| Assessed ratio | 158.8% |
Calculation basis
- Land = road price ¥175,000/m² × land area 225.03m²
- Building = replacement cost ¥220,000/m² × floor area 150.7m² × remaining life 0y ÷ statutory life 22y
- Built Mar 1973 (53 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +6.1%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 165,000 | — |
| 2025 | 170,000 | +3.0% |
| 2026 | 175,000 | +2.9% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
This listing carries no site photographs at all. Having confirmed that across four sites, we turned to four sheets of the 2026 roadside land value map and to national elevation data to assemble what evidence we could.
What We Could Not Confirm
- With no site photographs, we could not confirm whether a retaining wall exists or whether there is a level difference with the street in front.
- For the same reason we could not confirm whether steps lead up to the entrance.
- Nor could we confirm whether the plot is flag-shaped. The lot number is not disclosed, so a pole section would not be detectable from the listing. Even deducting the standard 30 sq m allowance for a pole would leave the assessed ratio at about 137 percent, well clear of the 80 percent line.
- We could not check the exterior condition of the 53-year-old timber building, including the roof, walls and foundation. With all four units tenanted, internal inspection would also need to be arranged on site.
- The land category is given as other on Rakumachi and left blank on at home, so it is not explicitly stated to be residential land.
※ 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
Please note at the outset that this listing carries no site photographs at all. We checked Rakumachi, at home, Kenbiya and SUUMO and confirmed that this is not a retrieval failure but that the listing agent has published no images. As a result we have been unable to assess whether there is a retaining wall, any level difference with the street, steps up to the entrance, whether the plot is flag-shaped, or the condition of the 53-year-old building. We exclude properties with retaining walls of 1 m or more of retained height, and for this property we simply could not make that judgement.
This is a whole-block apartment building in Saiwaicho 3-chome, Higashi-Kurume, a 20-minute walk from Higashi-Kurume Station on the Seibu Ikebukuro Line. Wooden two-storey construction, built in March 1973, with four units of 37.68 sq m each. The land is 225.03 sq m by the registry and the total floor area 150.70 sq m. All four units are tenanted, so this is an owner-change sale, with a gross yield of 8.20 percent and expected annual rent of 2,034,000 yen.
Zoning is Category I Low-Rise Exclusive Residential with 40 percent building coverage and 80 percent floor area ratio. The frontage is a 4.0 m public road on the south side. No private-road burden, setback, sloped portion, rebuilding prohibition or cliff-ordinance note appears on any site. With four units and 150.70 sq m of floor area, Article 5 of the Tokyo Building Safety Ordinance, which applies to row houses of ten or more units or over 300 sq m, does not apply.
The assessed value is 39,380,250 yen from the land alone, giving an assessed ratio of 158.8 percent against the 24,800,000 yen asking price. The inheritance-tax roadside land value for 2026 is 175,000 yen per sq m, symbol D, having risen from 165,000 through 170,000 to 175,000 over three years, up 6.1 percent. At 53 years the wooden building is far past its 22-year statutory life, so it is assessed at zero.
It is worth explaining why the ratio is as high as 158.8 percent. The asking price of 24,800,000 yen is 63 percent of the 39,380,000 yen land value implied by the roadside value. With all four units tenanted, clearing the site would require negotiating with tenants and paying relocation compensation, and the buyer would also bear demolition costs for roughly 150 sq m of timber construction. On top of that, the 40 and 80 percent limits cap the building footprint at 90 sq m on any rebuild. Those costs and risks explain a price set below effective land value, but with no site photographs the possibility remains that undisclosed factors account for part of the gap. We recommend a site visit before proceeding.
Estimated Financing
Suggested Lenders
※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.
![[Assessed 144.3%] Apartment building in Toshima Ward, Tokyo — 15 min from Ikebukuro Sta.](https://www.kenbiya.com/upload/p4712/4712665/1778757757786-1.jpg)