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[Assessed 85%] Apartment building in Nerima Ward, Tokyo — 7 min from Sakuradai Sta.
Assessed 85%Apartment buildingNerima Ward, TokyoSakuradai Sta. 7 min walk

[Assessed 85%] Apartment building in Nerima Ward, Tokyo — 7 min from Sakuradai Sta.

Published: Sep 26, 2026Updated: Sep 26, 2026

Property Overview

LocationNerima Ward, Tokyo
Nearest StationSeibu Ikebukuro Line Sakuradai Sta.
Walk7 min walk
Assessed Ratio85%Assessed 85%
Price¥68,000,000
TypeApartment building
Expected Yield6.12%
StructureWooden
BuiltBuilt Oct 1979 (46 years old)
Land Area132.02㎡
Building Area158.64㎡

Where This Property Is Listed

This property appears on the sites below. Listings matching on location, land area and building area are merged into a single article as the same property.

athome¥68,000,000View listing

Assessed Value Breakdown

Land assessed value¥57,824,800
Building assessed value¥0
Total assessed value¥57,824,800
Asking price¥68,000,000
Assessed ratio85%

Calculation basis

  • Land assessed value was entered manually by the operator.
  • Building = replacement cost ¥220,000/m² × floor area 158.64m² × remaining life 0y ÷ statutory life 22y
  • Built Oct 1979 (46 years old)

Official Road Price Trend (last 3 years)

Cumulative change 2024 → 2026: +15.8%
YearRoad price (JPY/m²)YoY
2024380,000—
2025410,000+7.9%
2026440,000+7.3%

※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.

How We Checked This Property

Rather than taking the listing's figures as given, we counted every local-street band in Sakuradai 2-chome on two sheets of the fiscal 2026 road price map, and checked the site's level against the two exterior photos and GSI elevation data.

Locating the road price

We overlaid the 55 blocks of Sakuradai 2-chome on the fiscal 2026 road price map (map 48066; the eastern part of 2-chome is on 48067) and counted the local-street bands. 440,000 and 450,000 yen were tied for most segments, and we used the lower, 440,000 yen/m² (leasehold ratio D). The same road went from 380,000 yen in 2024 to 410,000 yen in 2025 and 440,000 yen/m² in 2026.

View source
Rights and restrictions

The listed coordinates fall in block 44 of 2-chome, which is bounded by roads priced at 450,000 yen (northeast), 440,000 yen (southeast) and 390,000 yen/m² (northwest). The 3.9 m road on the southwest appears to be an internal passage with no road price. The assessed ratio depends on which value is used: 83.1% at 430,000 yen, 87.0% at 450,000 yen and 75.4% at the northwest road's 390,000 yen.

Effective land area

No private-road share is listed. Because the southwest road is 3.9 m wide, under 4 m, we assumed a setback to 2 m from the road centerline and deducted 0.6 m² (0.05 m deep by a frontage of about 12 m), valuing 131.42 m². Without the deduction the ratio is 85.4%.

On-site check from photos

We checked the two listing photos. The Oya-stone wall at the front is about 1.5 m high, but the gates open directly from the road surface and the position of the ground-floor windows behind it indicates the site is at almost the same level as the road. No level differences are visible at either neighboring boundary, and GSI 1 m mesh elevation data shows the area within 10 m of the property is flat.

Building valuation assumptions

The building is a two-story wooden structure built in October 1979. It is past the 22-year statutory useful life, so we assessed it at zero. Its total floor area of 158.64 m² is about 120% of the land area, above the listed floor-area ratio of 100%.

What We Could Not Confirm

  • The listing does not say whether the 3.9 m southwest road is public or private, what its legal road type is, or whether a setback is required.
  • The listing does not explain why the total floor area exceeds the listed floor-area ratio (legally non-conforming existing building, extension, etc.).
  • The rear (northeast) boundary does not appear in the photos, so any level difference there has not been checked. There is a valley-like lower area about 15-25 m to the northwest.
  • The unit layouts, number of units, occupancy breakdown and zoning district are not stated in the listing.

※ Rather than reproducing the listing as-is, we verified the figures against public sources such as the official road price maps and the listing photos. This is not based on a site visit, so please confirm on site and with the seller before deciding.

Neighborhood ① Shopping Near the Station

Seiyu

Supermarket. About 510 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source
CO-OP

Supermarket. About 550 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source
Super Amaike

Supermarket. About 580 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source

Neighborhood ② Dining Near the Station

Nichome Shokudo

Restaurant. About 530 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source
Teuchi Soba Sanzen

Soba restaurant. About 540 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source
Osaka Ohsho

Chinese restaurant. About 580 m in a straight line from the listed coordinates of the property to its OpenStreetMap location.

Source

About This Property

This is a two-story wooden apartment building in Sakuradai 2-chome, Nerima Ward, a 7-minute walk from Sakuradai Station on the Seibu Ikebukuro Line. Ikebukuro Station is about 10 minutes away on the same line. The area is residential, with detached houses and low-rise apartments, and supermarkets and restaurants are concentrated along Senkawa-dori.

The price is 68 million yen. The land is 132.02 m² (registered area, freehold) and the building has a total floor area of 158.64 m², built in October 1979. It is currently rented, with listed expected annual rent of 4.164 million yen (gross yield 6.12%). The front of the site is enclosed by an Oya-stone wall, but in the exterior photos the gates open directly from the road surface and the site sits at almost the same level as the road.

The assessed value rests mainly on the land. For the fiscal 2026 road price we used 440,000 yen/m², the most common value on the local streets of Sakuradai 2-chome. We valued 131.42 m² after deducting an estimated 0.6 m² for the setback on the southwest road, and treated the building as zero because the wooden structure is past its statutory useful life, giving an assessed ratio of 85%. The road price on the same street has risen about 16% in two years, from 380,000 yen in 2024.

⚠️The listing only says the site faces a 3.9 m road on the southwest; whether it is public or private, its legal road type and whether a setback is required are not stated. From the property's position it may face an internal passage with no road price of its own; using the road price on the northwest side of the block (390,000 yen/m²) would lower the assessed ratio to 75.4%. ⚠️The total floor area is about 120% of the land area, above the listed floor-area ratio of 100%. The listing does not say whether this is a legally non-conforming existing building or the result of an extension, and it may affect financing terms. The rear (northeast) boundary does not appear in the photos and has not been checked.

Estimated Financing

Assessed value ¥57,824,800 → estimated loan ¥57,820,000 (85% of the asking price)

※ Actual loan availability, amounts and terms are subject to each bank's screening.

Suggested Lenders

静岡銀行
Regional bankLand-value focusedStrong with apartment buildingsGood with older buildings
本業年収700万円以上が検討対象。 相続税路線価から算出した「土地の積算」が60%以上出ていれば、基本的にフルローンとなる。 修正後バランスシートも重視しており、属性枠だけで終了する訳ではない為、可能な限り「土地」が高積算の物件を買い進めていきたい。
L&Fアセットファイナンス
Non-bank lenderLand-value focusedStrong with apartment buildingsGood with older buildings
土地値が出る築古系が得意。 属性はほぼ問わない。 どんなに担保評価が付いたとしても8割融資が目安。 建物の価値に対してはほぼ担保評価を付けてくれない為、新築や築浅の物件は要注意。 但し、建売の売れ残りや変形地等の場合は、土地が広くて担保評価が伸びたり、賃料が高くて収益還元評価が伸びたりして、思わずハマるケースがある。 また、産休中でも行けた、貴重な存在の金融機関である。
関西みらい銀行
Regional bankAssessed-value focusedStrong with apartment buildings
土地から新築OK。 築古過ぎず、好立地で積算割合が高く、キャッシュフローが回る物件であれば、検討対象となる。 産休中はNG。 築古過ぎる場合は、信用金庫・信用組合のセゾンファンデックス保証付の不動産担保ローンが適す。

※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.

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