[Assessed 93.1%] Apartment building in Kawagoe, Saitama — 18 min from Shingashi Sta.

This is a two-storey wooden apartment building, "Libre Fine Kawagoe Kishimachi", under construction at 3-18-14 Kishimachi, Kawagoe, Saitama, an 18-minute walk from Shingashi Station on the Tobu Tojo Line. The site is in a Category 1 medium-to-high-rise residential zone (building coverage 60%, floor area ratio 200%) within the urbanisation promotion area, and faces a 4.00 m private road on the southeast. Measured in a straight line from the representative point of the block (Kishimachi 3-chome, block 18; GSI address search coordinates), FamilyMart is about 490 m away, Inageya Kawagoe Shingashi about 840 m and Yaoko Kawagoe Imafuku about 900 m; for food, Hidakaya Kawagoe Kishimachi is about 550 m, Marugen Ramen Kawagoe Kishimachi about 630 m and Steak no Asakuma Kawagoe about 700 m (OpenStreetMap).

The price is 79.6 million yen. The land is 201.58 m² (registered area, freehold, land category: residential) and the building has a total floor area of 226.89 m². ⚠️ This is a newly built property that is not yet completed; completion is scheduled for November 2026. There are four 2LDK units (51.71–61.65 m², all with a separate bath and toilet). ⚠️ The gross yield of 6.51% (annual income 5.184 million yen) assumes full occupancy and is not based on actual tenancies. The seller is Hajime Construction Co., Ltd. (selling directly as the owner). No parking is listed.

The assessed ratio is about 93.1%. We used 120,000 yen/m² (FY2026, leasehold ratio D), the most common value on the local streets of Kishimachi 3-chome, as the representative route price; the same section went from 115,000 (2024) to 120,000 (2025) and 120,000 yen/m² (2026), up about 4.3% in two years. The private road the site faces has no route price of its own, and the routes around the block are 120,000–130,000 yen/m². Using 125,000 yen/m² gives about 94.4%, and even the lowest band in the district, 110,000 yen/m², gives about 90.6%. ⚠️ Because the building is not yet completed, it is assessed as 0 years old, assuming the full 22-year statutory useful life for wooden buildings remains. After completion, the building's assessed value will fall as it ages.

⚠️ The listing has only three photos, all showing the vacant lot before construction began, so the exterior of the building cannot yet be checked. In the photos the site is flat and level with the private road in front, and no step of around 1 m is visible at the boundaries with neighbouring lots. ⚠️ Access is via the private road (4.00 m wide) on the southeast, but the private road burden field is blank, and neither the Rakumachi nor the Kenbiya listing states whether a share in the private road is included or whether consent for passage and excavation has been obtained; this needs to be confirmed with the seller. ⚠️ The listing notes that a designated management company must be used and that internet costs are borne by the owner (the management company and the internet cost amount are not stated). The property was listed on 4 October 2026.