[Assessed 94.8%] Apartment building in Chuo Ward, Saitama City, Saitama — 12 min from Yono-Hommachi Sta.

This is a small apartment building in Honmachi-nishi 3-chome, Chuo Ward, Saitama City, a 12-minute walk from Yono-Hommachi Station on the JR Saikyo Line. Shinjuku is roughly 35 minutes away on the Saikyo Line and Omiya is one stop, so demand from single tenants is solid. FamilyMart Saitama Honmachi-nishi, Bamiyan Yono-Hommachi, Sushiro and Yoshinoya are nearby for daily shopping and dining.

The building is a two-storey wooden structure completed in January 2021 (5 years old) with 12 units (1K, 25.00 m² each, centre-corridor plan), total floor area 405.27 m², land 340.07 m² (surveyed), freehold. It is fully tenanted with an expected annual income of JPY 9.912 million (JPY 826,000/month) plus vending-machine income, a gross yield of 6.70%, an asking price of JPY 148 million, immediate handover, and a non-exclusive brokerage. Zoning is Category 1 low-rise exclusive residential (60% coverage / 200% floor-area ratio); there is no parking. The lot fronts a 4.0 m private road to the east and a 5.9 m public road to the west, and the listing notes a private-road consent letter is in place.

For the assessment we traced every local street in Honmachi-nishi 3-chome on the 2026 land-value map and took the most common value, JPY 210,000/m² (leasehold ratio D). The same street moved 195,000 → 200,000 → 210,000 yen from 2024 to 2026, up 7.7% in two years. Land: 340.07 m² × 210,000 = JPY 71.41 million; building: wooden, 5 years old with 17 years remaining, JPY 68.90 million; total JPY 140.31 million, or 94.8% of the price. The block is not disclosed, but the lowest local-street band in the district is JPY 190,000/m², which still gives 90.2%. The land unit price alone looks high at JPY 435,000/m², but the nearly new building accounts for 47% of the assessed value.

Of the 10 listing photos only one shows the exterior (entrance side): the frontage road and the lot are at the same level, with just a 10 cm step up to the entrance tiles — no level difference or stair access. Both neighbouring lots share the same ground level with no retaining wall or slope visible. The east private-road side and the rear boundary are not in the photos; national elevation data showing the whole district is a gentle 1% slope supports the flat reading. The private-road burden field is blank, so whether the east private road is included in the land area cannot be confirmed from the listing, but even with 40 m² deducted the ratio is 89.1%. A nearly new, fully tenanted 12-unit building where both land and building carry value — a balanced mix of assessment and income.