[Assessed 91.3%] Condominium building in Abiko, Chiba — 4 min from Tennodai Sta.

This apartment building is in Shibasakidai 1-chome, Abiko, Chiba, a 4-minute walk from Tennodai Station on the JR Joban Line and a 14-minute walk from Higashi-Abiko Station on the JR Narita Line. The regularly shaped lot fronts a 6.0 m public road on the north side for about 20.5 m, with no private-road burden, and the terrain is described as flat. The zoning is Category 2 Medium-to-High-Rise Residential (60% building coverage / 200% floor area ratio). The lot number is not disclosed, so the exact position within the district has not been identified.

The building is a reinforced concrete structure completed in December 1989, with three floors above ground and one basement level, a total floor area of 962.05 m², 12 units (39.87 to 65.7 m² each), an elevator and all-electric equipment. The land is 450.49 m² (registered area, freehold), and the asking price is 148 million yen. The basement is a drive-in covered parking area of 267.28 m² (4 cars), equal to 27.8% of the total floor area. The listing does not state whether the parking is included in the floor area; this article assumes it is. ⚠️ If the building is valued on the 694.77 m² excluding the parking, the building value falls to about 53.66 million yen and the assessed ratio to about 77.4%.

For the 2026 route price, we adopted 135,000 yen/m², the most frequent value on the local streets of Shibasakidai 1-chome, unchanged for three years since 2024. On this basis the land is about 60.82 million yen and the building, 36 years old with 11 of its 47-year statutory useful life remaining, is about 74.30 million yen, giving an assessed ratio of 91.3%. Whichever band within the district (130,000 to 155,000 yen/m²) is used, the ratio stays between 89.8% and 97.4%. On the other hand, the land alone covers only 41.1% of the price, so more than half of the assessment rests on the building's remaining value. The building is sold with tenants in place and fully occupied (as of October 2, 2026); the projected annual rent at full occupancy is 10.488 million yen, a gross yield of 7.08%.

In the listing photos there is no step between the front road and the lot, the entrance rises only a few steps within the lot, and the basement parking appears to have been dug into flat ground as a half-basement. However, the southern (rear) boundary does not appear in any photo, so the presence of steps or retaining walls there is unconfirmed. The building stands out for its short walk to the station and full occupancy, but the assessment depends heavily on the building value and changes considerably depending on whether the parking is counted in the floor area, so the breakdown of the floor area should be confirmed in the registry or the inspection certificate. The same property is listed on both athome and Rakumachi with identical terms.