積算100
東京都東久留米市幸町3丁目の一棟アパート(掲載に現地写真がないため自動生成した代替画像)
Assessed 158.8%Apartment buildingHigashi-Kurume, TokyoHigashi-Kurume Sta. 20 min walk

[Assessed 158.8%] Apartment building in Higashi-Kurume, Tokyo — 20 min from Higashi-Kurume Sta.

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

Property Overview

LocationHigashi-Kurume, Tokyo
Nearest StationSeibu Ikebukuro Line Higashi-Kurume Sta.
Walk20 min walk
Assessed Ratio158.8%Assessed 158.8%
Price¥24,800,000
TypeApartment building
Expected Yield8.2%
StructureWooden
BuiltBuilt Mar 1973 (53 years old)
Land Area225.03㎡
Building Area150.7㎡

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 ratio158.8%

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%
YearRoad price (JPY/m²)YoY
2024165,000
2025170,000+3.0%
2026175,000+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.

Locating the road price

We traced the neighbourhood streets of Saiwaicho 3-chome on the 2026 roadside land value map, sheet 62091. The chome spans four sheets, 62077, 62078, 62091 and 62092, and we checked all of them. On 62091, which carries most of the chome, neighbourhood streets run 165,000 to 180,000 yen per sq m, with only Saiwai-dori, the arterial road, at 185,000. A strip at the eastern edge falls on 62092 at 190,000 to 200,000, and the northern edge touches 62077 at about 180,000. The most common value is 180,000, but we stepped one band down to 175,000 as the conservative representative figure. Following the same street across three years gives 165,000, 170,000 and 175,000 yen.

View source
Listing check

The address is given only to the chome with no lot number, and the coordinates on the listing match the Geospatial Information Authority centroid for Saiwaicho 3-chome, so we could not pinpoint the block on the map. That uncertainty does not change the conclusion: the cheapest band in the chome, 165,000 yen, still gives an assessed ratio of 149.7 percent, and the highest, 200,000 yen, gives 181.5 percent, so every band sits at roughly twice the 88,166 yen per sq m needed to reach 80 percent. The straight-line distance from the chome centroid to Higashi-Kurume Station is about 1.19 km, consistent with the stated 20-minute walk.

On-site check from photos

There are no site photographs at all. We established across four sites that this is not a retrieval failure but an absence in the listing itself. On Rakumachi the list row shows a no-image placeholder and the detail page has no image section. The same property appears on at home, matching on price, build date, walking time and agent, and that data also returns zero photographs and not even a floor plan. Kenbiya's 152-item list for Higashi-Kurume carries nothing in Saiwaicho, and the property is not on SUUMO. Retaining walls, level differences, steps, flag-shaped plots, terracing and the building's exterior condition therefore all remain unassessed.

Other checks

To compensate for the absence of photographs we measured the terrain using the Geospatial Information Authority's 1 m mesh elevation data. Sampling a 200 m square around the centre of Saiwaicho 3-chome at 25 m intervals gives elevations of 49.9 to 54.3 m, with steps between adjacent points mostly 0.2 to 0.6 m and a single maximum of 1.7 m. Over a 700 m square at 100 m intervals the ground falls evenly from north-west to south-east, at most 2.6 m per 100 m. There is no terrace scarp within the chome, and applying that gradient to a 15 m deep plot gives a level difference of only about 0.4 m. The terrain therefore makes a retaining wall of 1 m or more unlikely, but a man-made wall on a plot boundary would not appear in elevation data at this spacing, so this is not proof that none exists.

Rights and restrictions

The land is held in freehold, neither leasehold nor a leased-land freehold. The private-road burden field is blank on both Rakumachi and at home, and the frontage is a 4.0 m public road on the south. With four units and 150.70 sq m of floor area, Article 5 of the Tokyo Building Safety Ordinance, which requires a 3 m internal passage for row houses of ten or more units or over 300 sq m, does not apply. Both the registration and publication dates are 10 September 2026, so there is no sign of a long-standing listing.

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

Big-A Higashi-Kurume Saiwaicho
19 min walk from the station

A discount supermarket about 60 m in a straight line from the centre of the chome, confirmed on OpenStreetMap.

Source
FamilyMart Higashi-Kurume Saiwaicho
19 min walk from the station

A convenience store about 130 m in a straight line from the centre of the chome, confirmed on OpenStreetMap.

Source
Seisen Ichiba TOP Higashi-Kurume
16 min walk from the station

A fresh-food supermarket about 400 m in a straight line from the centre of the chome, confirmed on OpenStreetMap.

Source

Neighborhood ② Dining Near the Station

KFC Higashi-Kurume
18 min walk from the station

A fast-food outlet about 170 m in a straight line from the centre of the chome, confirmed on OpenStreetMap.

Source
Hanaya Yohei Higashi-Kurume
16 min walk from the station

A Japanese family restaurant about 450 m in a straight line from the centre of the chome, confirmed on OpenStreetMap.

Source

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

Assessed value ¥39,380,250 → estimated loan ¥24,800,000 (100% of the asking price)

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

Suggested Lenders

静岡銀行
Regional bankLand-value focusedStrong with apartment buildingsGood with older buildings
本業年収700万円以上が検討対象。 相続税路線価から算出した「土地の積算」が60%以上出ていれば、基本的にフルローンとなる。 修正後バランスシートも重視しており、属性枠だけで終了する訳ではない為、可能な限り「土地」が高積算の物件を買い進めていきたい。
L&Fアセットファイナンス
Non-bank lenderLand-value focusedStrong with apartment buildingsGood with older buildings
土地値が出る築古系が得意。 属性はほぼ問わない。 どんなに担保評価が付いたとしても8割融資が目安。 建物の価値に対してはほぼ担保評価を付けてくれない為、新築や築浅の物件は要注意。 但し、建売の売れ残りや変形地等の場合は、土地が広くて担保評価が伸びたり、賃料が高くて収益還元評価が伸びたりして、思わずハマるケースがある。 また、産休中でも行けた、貴重な存在の金融機関である。
関西みらい銀行
Regional bankAssessed-value focusedStrong with apartment 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。

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

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