[Assessed 83.9%] Apartment building in Hachioji, Tokyo — 17 min from Hachioji Sta.

A new-build apartment building, "Libre Fine Hachioji Honcho", under construction in Honcho, Hachioji, Tokyo, with completion scheduled for October 2026, 17 minutes on foot from Hachioji Station on the JR Chuo Main Line. Hachioji is around 40 minutes from Shinjuku by Chuo Special Rapid, and Keio-Hachioji Station on the Keio Line is also within walking distance. The listed address "Honcho 43-5" is a land-registry lot number; the residential-address blocks of Honcho only run up to 36, so block 43 does not exist in that system. The map coordinates on the Rakumachi listing place the site around block 23 of Honcho, west of the Hachioji Arts and Culture Hall, an urban plot with a seven-storey condominium to the north and a Japanese-style house to the south.

A two-storey wooden building with six units (three 1LDK and three 2LDK, 40.23 to 50.02 sqm), 273.47 sqm of total floor area on a 310.06 sqm freehold lot (registered area), priced at 140 million yen. The lot fronts a 6.00 m public road on the west with no private-road burden. Zoning is neighbourhood commercial (80 percent coverage, 300 percent floor-area ratio) with part of the site in a quasi-industrial zone (60 percent / 200 percent), inside the urbanisation promotion area, with one parking space. The seller is Hajime Construction (Iida Group Holdings) selling directly, and the building permit number has been issued. The building is not yet complete and the handover date is by consultation. Caution: a designated management company is a condition of the sale, and the owner bears the internet service cost.

The assessed ratio is 83.9 percent. As a new build the full 22-year statutory life of a wooden building remains, so the building is assessed at about 60.16 million yen (220,000 yen per sqm x 273.47 sqm). For the land we used 185,000 yen per sqm, the most frequent band among the neighbourhood roads of Honcho, giving about 57.36 million yen for 310.06 sqm; the total is about 117.52 million yen. The road-price of the road fronting the west side is also 185,000 yen, the same band as the representative value. The neighbourhood roads in the northern residential part of Honcho range from 175,000 to 195,000 yen, and any of those bands gives 81.7 to 86.2 percent. Three-year trend: 165,000 (2024), 175,000 (2025), 185,000 (2026), a rise of 12.1 percent in two years. The land alone is 41.0 percent, so the building accounts for slightly more than half of the assessment, as is typical for a new build. On the income side, the projected annual rent is 9.132 million yen (761,000 yen per month, about 127,000 yen per unit on average) for a gross yield of 6.52 percent, but this is rent projected by the seller, not an actual tenancy record. The designated management company's fee and the internet cost come on top, so the net figure will be lower.

We checked the two site photos on the Rakumachi listing (the lot as vacant land). Seen from the 6 m public road on the west, the lot is almost level with the road surface, with no stepped access or level difference. The boundary with the northern neighbour is a low retaining wall of about 0.4 to 0.6 m; the boundary with the southern neighbour is a 1.2 to 1.4 m concrete-block wall, but the ground is at the same level on both sides, so it is a screening wall rather than a retaining wall. The east (rear) boundary is a low block wall with no level difference, and the Geospatial Information Authority elevation data shows at most 0.9 m of variation within about 70 m of the site. It is not a flag-shaped lot, a sloping lot or a terrace. Since the building is unfinished, its exterior and fittings could not be checked and will need to be confirmed after completion. Nearby facilities are shown by straight-line distance from the map coordinates on the Rakumachi listing.