[Assessed 97.4%] Condominium building in Minami Ward, Sagamihara, Kanagawa — 6 min from Higashi-Rinkan Sta.

A 14-unit, three-storey reinforced concrete apartment building in Kamitsuruma 7-chome, Minami Ward, Sagamihara, Kanagawa. It is a 6-minute walk from Higashi-Rinkan Station on the Odakyu Enoshima Line, and Sagami-Ono Station on the Odakyu Line can also be reached by a 3-minute bus ride plus a 5-minute walk. The site is in a Category 1 low-rise exclusive residential zone close to the station, about 240 m from the Tokyu Store Higashi-Rinkan supermarket and about 140 m from a convenience store. Store distances are straight-line distances from the property location found with the Geospatial Information Authority of Japan address search, using OpenStreetMap store locations.

The asking price is 418 million yen for 1,145.77 ㎡ of land (surveyed area, boundary survey completed) and a 1,021.66 ㎡ building completed in September 1999. The regular-shaped lot faces a 7.90 m public road on the northwest side with about 52.4 m of frontage; the land is freehold and no private road burden is listed. The building coverage and floor area ratios are 50% and 100%. The building is currently let, with a listed assumed annual income of 21.792 million yen (1.816 million yen per month) and a gross yield of 5.21%. The seller, Open House Real Estate Co., Ltd., is selling directly, and points out that the site is over 1,000 ㎡ within walking distance of the station and could be divided into lots for sale when the building is eventually rebuilt.

The assessment uses the 2026 roadside land price of 230,000 yen/㎡. Among the local roads in Kamitsuruma 7-chome, 230,000 and 235,000 yen/㎡ appear equally often, and the lower value was taken as representative. The road the property faces on the northwest side is 240,000 yen/㎡; using that value, the assessment ratio would be 100.1%. At 235,000 yen/㎡ it would be 98.7%, and at 225,000 yen/㎡, 96.0%. The reinforced concrete building is 27 years old, so the remaining 20 of its 47-year statutory useful life are included, and the building accounts for about 35% of the 97.4% assessment ratio. The building portion declines as the years pass. The roadside land price rose from 195,000 yen in 2024 to 230,000 yen in 2026, about 18% in two years.

The listing has two exterior photos and one of the entrance. Seen from the road on the northwest side (with a guardrail), the building, entrance and parking area are almost level with the road, with about one step at the entrance. There is no retaining wall, stepped access or slope, and the lot is neither a flag lot nor attached to neighboring buildings. ⚠️The rear and side boundaries with neighboring lots are not shown in the photos, so height differences and any retaining walls there have not been confirmed from photos (elevation data from the Geospatial Information Authority of Japan shows the surroundings are flat). Rents per unit, occupancy and repair history need to be confirmed with the seller.