[Assessed 109.3%] Apartment building in Suginami Ward, Tokyo — 12 min from Kugayama Sta.

⚠️ The road-access section of the listing is blank, and the width and type of the road in front are not stated. Measured from the road edges in the GSI Fundamental Geospatial Data, the road is about 3.4–3.9 m wide; if it is a road under Article 42(2) of the Building Standards Act, a setback of about 1.5㎡ may be required. Our assessment does not deduct this area; deducting about 1.5㎡ would give an assessment ratio of about 107.8%. In addition, the total floor area of 111.6㎡ on 111.41㎡ of land gives a floor area ratio of about 100.2%, slightly above the designated 100%. The listing does not show whether this is a legally non-conforming existing building or an excess over the limit, which may affect financing valuation.

This is a whole apartment building, "Kugayama Heights", in Miyamae 4-chome, Suginami Ward, a 12-minute walk from Kugayama Station on the Keio Inokashira Line (14–15 minutes from Fujimigaoka Station and 17 minutes from Takaido Station). Across the road in front is Tokyo Metropolitan Nishi High School, and the surroundings are a residential area in a Category 1 low-rise exclusive residential zone. Nearby facilities, measured as straight-line distances from the centroid of Miyamae 4-chome to the OpenStreetMap positions, include Sugi Pharmacy at about 50 m, 7-Eleven Toritsu Nishikomae at about 190 m and OK Store at about 280 m; for restaurants, Bamiyan and Sobadokoro Kasuga are each about 200 m away and Omiya Hanten about 660 m.

The building is a two-storey wooden structure with four 2K units, built in May 1988 (38 years old); the listing states that major exterior and full interior renovations of all units were carried out in May 2020. The land area of 111.41㎡ (33.7 tsubo) is as shown on Kenbiya, which displays area excluding any private road portion. It is freehold, in a Category 1 low-rise exclusive residential zone (building coverage 50%, floor area ratio 100%) and a quasi-fire prevention district. Against a price of 52 million yen, the projected full-occupancy income is 3.564 million yen a year (297,000 yen a month), a gross yield of 6.85%; it is currently tenanted and has no parking. The broker is Tokyo Tochi Tatemono, and the handover date is negotiable.

The 2026 inheritance-tax road price is 510,000 yen/㎡ (leasehold ratio D), the most common value on the local streets of Miyamae 4-chome, and the north-south and east-west roads bordering the block are in the same band. It has risen about 15.9% over three years, from 440,000 to 470,000 to 510,000 yen. The listing does not give the street number, so we identified the block by matching the building name with the residential address in a separate rental listing. As the wooden building is 38 years old, its assessed value is zero, so the assessment is determined by the land road price alone, giving an assessment ratio of 109.3%. Even the lowest band in the district, 470,000 yen, gives 100.7%. In the listing photos the road in front and the approach are at the same level, and no retaining wall or stepped access is visible. This is a property to judge after confirming the road type and the treatment of the floor area ratio with the broker.