[Assessed 82.2%] Apartment building in Nerima Ward, Tokyo — 13 min from Nerima-Takanodai Sta.

A small apartment building run as a share house in Fujimidai 4-chome, Nerima Ward, listed as a 13-minute walk from Nerima-Takanodai Station on the Seibu Ikebukuro Line. The building is called NOARK Fujimidai 4-chome II, and another listing gives the residential address (Fujimidai 4-24-19). The zoning is Category 1 Exclusively Low-rise Residential (50% building coverage / 100% floor area ratio) in a quasi-fire-prevention district, and the site fronts a 4m-wide public road (Building Standards Act Article 42-1-1) to the north with a frontage of about 10m.

The building is a two-story wooden structure completed in March 2016, with a total floor area of 133.64㎡. It has 11 rooms (5 on the ground floor, 6 upstairs; each a studio of 7.09–7.29㎡) with a shared kitchen, toilets, showers and washbasins. The land is 135.12㎡, freehold, registered as residential land. The price is 75.4 million yen, and the listing gives annual income of 5.28 million yen when fully let (gross yield 7.00%). This figure is after deducting the master-lease fee (20% of total rent and management fees), and variable costs such as electricity, gas, water and internet are borne by the owner. The buyer must take over the master-lease contract, which runs to the end of May 2028 (with five-year automatic renewal).

At 10 years old, 12 of the 22-year statutory useful life for wooden buildings remain, so the building also carries an assessed value. For the road price, the local streets of Fujimidai 4-chome are split between 340,000 and 370,000 yen/㎡ in almost equal numbers of sections, so we used the lowest of these, 340,000 yen/㎡. It has risen about 9.7% in two years from 310,000 yen/㎡ in 2024. The section the site actually fronts on the north is 330,000 yen/㎡; using that value gives an assessment ratio of about 80.4%.

⚠️ In the Kenbiya listing the road access, zoning and coverage/floor-area fields are blank; we filled them from three other listings of the same property. One of those listings also notes a private road of 21.07㎡, but the site plan shows the lot fronting the public road directly, and the location and ownership of that private road are unknown. The photos show the front and sides level with the road and neighbours, and for the block wall at the rear we confirmed with GSI elevation data that there is no height difference of 1m or more. Before deciding, the master-lease terms (rent, termination and renewal conditions), actual variable costs and the private road should be confirmed with the listing agent. Distances to nearby facilities are straight-line distances from the centre of block 24, Fujimidai 4-chome, to their OpenStreetMap locations.