[Assessed 83.2%] Apartment building in Hiratsuka, Kanagawa — 20 min from Hiratsuka Sta.

A small apartment building in Oiwake, Hiratsuka, listed as a 20-minute walk from Hiratsuka Station on the JR Tokaido Line. The zoning is Neighborhood Commercial (80% building coverage / 300% floor area ratio), in a quasi-fire-prevention district and Height District 3. It is a corner lot: the exterior photo shows a road with a sidewalk on one side and a narrower residential street with a painted edge line on the other. The address is given as a lot number (1628-3), so the exact residential block is not identified, but we judge the property to be in the residential blocks of Oiwake around Hiratsuka Kyosai Hospital and the prefectural school for the blind.

The building is a three-story steel-frame structure completed in May 1982, with a total floor area of 315.59㎡. There are six residential units (three each on the second and third floors) and a pilotis parking area for six cars on the ground floor. The land is 198.41㎡, freehold. Four of the six units are let and two are being advertised. The listing gives current annual rent of 2.388 million yen (gross yield 8.01%) and 3.684 million yen when fully let (12.36%). The price is 29.8 million yen.

At 44 years old the building exceeds the statutory useful life for steel construction, so its assessed value is zero and the assessment rests almost entirely on the land. We used 125,000 yen/㎡, the most common value on the local streets of the residential part of Oiwake; it was 120,000 yen/㎡ in 2024 and 2025, a rise of about 4.2%. At the previous year's level of 120,000 yen/㎡ the assessment ratio would be about 79.9%, so the figure is sensitive to small differences in the road price.

⚠️ The remarks say there is a disclosure matter (kokuchi jiko), but its content is not given in the listing. A May 1982 completion falls in the period when the building permit may predate or postdate the new earthquake-resistance standard of June 1981, and the listing does not show which. Road access is described only as a corner lot, with no width, direction or road type. There is only one exterior photo, and the two boundaries on the side away from the roads are not shown. The parking figures are also inconsistent (six spaces versus four let and three vacant). Before deciding, the disclosure matter, the building permit date, the road width and type, the rear boundaries and the parking contracts should be confirmed with the listing agent. Distances to nearby facilities are straight-line distances from the centroid of Oiwake to their OpenStreetMap locations.