[Assessed 144.3%] Apartment building in Toshima Ward, Tokyo — 15 min from Ikebukuro Sta.

⚠️ Important notes on road frontage and price. In all three listings (Kenbiya, Rakumachi and LIFULL HOME'S) the frontage, zoning, building-coverage, floor-area-ratio and private-road fields are blank, so the road width and type, any setback requirement and whether rebuilding is permitted cannot be confirmed from the listings. The exterior photo shows a concrete-paved alley roughly 2 m wide in front of the building, and the photos do not show whether this alley is a road under the Building Standards Act or an on-site passage. In addition, the asking price of 34,800,000 yen is below even the land's road-price total of 41,270,000 yen calculated with the lowest band in the chome (600,000 yen/sqm), so the listing information alone cannot explain why the price is this low. The agent states "freehold x rebuildable" in the titles of its other listings but not in this one. Rebuildability, frontage and any private-road share must be confirmed with the agent.

This is a whole-building apartment in Nishi-Ikebukuro 4-chome, Toshima Ward, Tokyo, 15 minutes on foot from Ikebukuro Station on the JR Yamanote Line, in the residential area beyond Yamate-dori from the station's west exit. The block number is not disclosed, so the exact block within the chome has not been identified. In straight-line distance from the chome centroid, 7-Eleven Nishi-Ikebukuro 4-chome is about 170 m away, Tobu Store about 490 m and My Basket about 450 m.

The building is a two-storey wooden apartment built in March 1967 with four units (20-25 sqm each) and 89.16 sqm of total floor area, currently fully tenanted. Annual income at full occupancy is 3,168,000 yen (264,000 yen a month), a gross yield of 9.10%. The land is 68.79 sqm (registered, excluding any private road), freehold, classified as residential land. The price is 34,800,000 yen; the same property has been listed on Rakumachi since 13 March 2026, six months ago.

The FY2026 inheritance-tax road price is 730,000 yen/sqm (maps 44040 and 44031), the most common band among the local streets of Nishi-Ikebukuro 4-chome. Applied to 68.79 sqm, the assessed land value is 50,216,700 yen; the 59-year-old wooden building exceeds its 22-year statutory life, so its assessed value is zero. Against the asking price the assessed ratio is 144.3%. Local-street bands within the chome range from 600,000 to 780,000 yen; even the lowest band gives 118.6%. The road price has risen about 32.7% over three years, from 550,000 yen (FY2024) to 630,000 (FY2025) and 730,000 (FY2026).

We reviewed one exterior photo of the four in the listing. The entrance is roughly level with the alley, with no retaining wall, stepped access or on-site level difference visible. The lot to the left is vacant and the building stands apart on that side, but the relationship with the neighbour on the right is outside the photo, so we could not confirm it is not a terraced building. No photo shows the road itself.