[Assessed 84%] Condominium building in Ichikawa, Chiba — 11 min from Minami-Gyotoku Sta.

This is Excel Ikedo (エクセル池戸), a whole apartment building at 11-7 Fukuei 1-chome, Ichikawa, Chiba. The nearest station is Minami-Gyotoku on the Tokyo Metro Tozai Line, listed as an 11-minute walk. The site is in a Category 1 Residential zone (building coverage 60%, floor area ratio 200%) and faces a public road about 6.0 m wide on the southwest side. Nearby are a 7-Eleven in the same Fukuei 1-chome (about 150 m), the Acore supermarket in Minatoshinden 2-chome (about 360 m), Y's Mart Minami-Gyotoku in Minamigyotoku 1-chome (about 540 m), the Chinese restaurant Kiraku in Katori 2-chome (about 160 m) and Saizeriya Minami-Gyotoku Ekimae (about 770 m). Distances are straight-line distances from the point given by the GSI address search for the listed street address, and every shop was confirmed on OpenStreetMap to be located within Ichikawa.

The building is a three-storey steel-reinforced concrete (SRC) structure built in October 1985 (41 years old), with eight units — two 1K and six 2K units of 21.5–31.59 m² each — and a total floor area of 270.41 m². It was built after the new seismic standard introduced in June 1981, although the listing does not give the date of the building permit. It is currently fully let, with a gross yield of 6.46% (annual rent of 6.192 million yen when full). The land is a 203.28 m² freehold lot, and the listing mentions no private-road burden or setback. The price is 95.8 million yen, and the agent is Starts Pitat House (brokerage).

For the 2026 road price we took 340,000 yen/m² (leasehold ratio D), the value of the block road on the southwest side that the site faces. It is also the most common value among the block roads of Fukuei 1-chome; it rose from 310,000 yen/m² in 2024 to 340,000 yen/m² in 2025 and was unchanged in 2026. ⚠️ Because this site's structure categories have no SRC class, the SRC building is calculated in the RC category (replacement cost 330,000 yen/m², statutory useful life 47 years). At 41 years old only 6 years of useful life remain, so the building is valued at only about 11.39 million yen and most of the assessed value comes from the land (about 69.12 million yen). The assessed value is about 84.0% of the price.

⚠️ The listing has only one exterior photo. On the front (southwest) side there is a block wall (about 0.8 m) and a fence along the sidewalk; the site is only about 0.3–0.5 m higher than the sidewalk, and the entrance is one curb step and a gentle ramp, not a flight of stairs. The neighbor to the northwest is a separate apartment building with a passage in between. The northeast and southeast boundaries do not appear in the photo, so whether there are retaining walls or level differences there has not been checked. GSI elevation data put the ground around the property at 0.5–1.2 m above sea level, a flat area of reclaimed land. This is a small, fully let apartment building of some age, to be considered after checking the condition of the building and the boundaries not shown in the photo.