[Assessed 105.9%] Apartment building in Izumi Ward, Yokohama, Kanagawa — 16 min from Tateba Sta.

A two-unit wooden apartment building (two storeys) in Izumi-chuo-kita 1-chome, Izumi Ward, Yokohama, Kanagawa. It is a 16-minute walk from Tateba Station on the Yokohama Municipal Subway Blue Line, and Izumi-chuo Station on the Sotetsu Izumino Line is also a 16-minute walk, so two lines are available. The area is a Category 1 low-rise exclusive residential zone. According to the listing, Izumi Elementary School is about 260 m away, a 7-Eleven about 600 m and a York Mart supermarket about 1,000 m. Those two store distances come from the listing; the other stores are measured in a straight line from the center of Izumi-chuo-kita 1-chome using OpenStreetMap locations.

The asking price is 49.8 million yen for 301.46 ㎡ of land (registered area) and a 132.90 ㎡ wooden two-storey building completed in October 1997. It was built as a two-household home with two 2LDK units: a 15.5-tatami LDK on the ground floor and a 13-tatami LDK plus balcony upstairs. The buyer can let both units separately or live in one and let the other. There are three parking spaces on the site, one of which is currently rented out. The site faces a 4.00 m public road on the west side, the land is freehold, no private road burden is listed, and the building coverage and floor area ratios are 50% and 80%. The seller is represented by a broker, and the same property is also listed at the same price by another broker.

The property is currently occupied. The listed gross yield of 4.53% is based on an assumed annual income of 2.256 million yen at full occupancy (90,000 yen per month for each unit plus 8,000 yen per month for parking), not on actual rental income. The assessment uses the 2026 roadside land price of 175,000 yen/㎡. Because the lot number is not disclosed, the road the property faces has not been identified, so the most common value among the local roads in Izumi-chuo-kita 1-chome was used as the representative value. Local roads in the district range from 160,000 to 180,000 yen/㎡; even at the lowest 160,000 yen/㎡ the assessment ratio is 96.9%, and at 180,000 yen/㎡ it is 109.0%. The 28-year-old wooden building is given no assessed value, so the 105.9% ratio reflects the land alone. The roadside land price rose from 160,000 yen in 2024 to 175,000 yen in 2026, about 9% in two years.

The listing has only one exterior photo. Seen from the road on the west side, the building and parking area are almost level with the road; the block wall along the road is about 0.5 to 0.7 m high with a mesh fence on top, no step is visible from the gate to the front door, and there is no retaining wall, stepped access or slope. ⚠️However, the rear and the north and south boundaries with neighboring lots are not shown in the photo, so height differences and any retaining walls there have not been confirmed from photos. There are no interior photos either, so the condition of the 28-year-old building needs to be checked on site or with the broker.