[Assessed 86.2%] Condominium building in Yamato, Kanagawa — 8 min from Chuo-Rinkan Sta.

Caution: this is an unfinished building scheduled for completion in May 2027, and the listed projected rent (10.26 million yen a year, projected yield 6.50%) is a pre-leasing estimate. "Chuo-Rinkan BEST 8" is a new-build whole apartment building planned in Chuo-Rinkan 1-chome, Yamato City, an 8-minute walk from Chuo-Rinkan Station on the Tokyu Den-en-toshi and Odakyu Enoshima lines. The station is the Den-en-toshi terminus; the walk to the station-front Tokyu Store and Etomo Chuo-Rinkan is flat, and the east side of the site fronts a 9.2 m public road with sidewalks on both sides.

The plan is a three-storey reinforced-concrete building of 8 units (25 to 38 sq m; one 2LK on the ground floor), construction floor area about 289 sq m, on 138 sq m of freehold land (registry). Projected rents are 92,000 yen x 3 on the third floor, 90,000 yen x 3 on the second, 88,000 and 145,000 yen on the first, plus 5,000 yen management fees x 8 and three parking spaces at 12,000 yen, totalling 855,000 yen a month. Quasi-fire-prevention district, Category 2 medium-to-high-rise residential zone (the SUUMO land listing for the same plot says Category 1), 60% coverage / 200% floor-area ratio, auto-lock entrance, LP gas hot water. The summary sheet says "land acquired first, details in a separate sheet", which reads as buying the land first and building under a construction contract. The same plot is also listed as land by Tokyo Tatemono Real Estate Sales at 69.8 million yen (138.84 sq m), implying about 88 million yen for the building portion.

On valuation, we traced every district road in Chuo-Rinkan 1-chome on the 2026 route-price map and adopted the most frequent value, 295,000 yen per sq m (295D). The sidewalk road on the east side carries 310,000 yen, but per our policy we use the most frequent value in the chome. The new RC building is valued at the full replacement rate of 330,000 yen per sq m over a 47-year life; land 40.71 million yen plus building 95.37 million yen comes to about 86% of the price. The same route rose from 265,000 (2024) to 280,000 (2025) to 295,000 yen (2026), up 11.3% in two years, the highest band in Yamato City as the terminus catchment of the Den-en-toshi Line.

Caution: because the building accounts for about 70% of the assessment, the ratio falls directly if the registered floor area ends up below the construction floor area (about 289 sq m); below roughly 250 sq m it drops under 80%. The athome listing has only two scanned pages of the income summary, so site conditions were checked on the photos (taken March 2026) of the SUUMO land listing for the same plot: the site is level with the sidewalk, with no retaining wall or step, and GSI elevation data shows differences within 0.4 m in and around the site. Building-permit status, construction-contract terms and the post-completion registered area should be confirmed with the agent (Baikal Co., Ltd.).