[Assessed 96.1%] Condominium building in Kawaguchi, Saitama — 20 min from Minami-Hatogaya Sta.

This is a four-storey, 10-unit reinforced concrete (RC) apartment building in Asahi 5-chome, Kawaguchi: a 20-minute walk from Minami-Hatogaya Station on the Saitama Rapid Railway (26 minutes from Kawaguchi-Motogo Station). The front road is flat and paved, and a FamilyMart and a Lawson are about 300–400 m in a straight line from the property location (OpenStreetMap). At 20 minutes on foot, the station is some distance away.

The building was completed in March 1997 (29 years old) and has a total floor area of 472.49 m². Its 10 units range from 44.40 to 47.25 m², with layouts such as a 9-jo LDK plus a 6-jo Japanese room and a 4.5-jo storeroom, or a 7.5-jo DK plus a 4.5-jo Western room and a 6-jo Japanese room. There is an elevator and a pilotis car park. The projected annual rent at full occupancy is 8.904 million yen (gross yield 8.09%), the current yield is 7.24%, and the building is tenanted. The land is 255.36 m² (registered) of freehold, with a 60% building coverage ratio and a 200% floor area ratio.

For the FY2026 route price, we used 180,000 yen/m², the most common value on the local streets of Asahi 5-chome. The road the property faces is also 180,000 yen/m², having risen from 160,000 to 170,000 to 180,000 yen/m² over three years. The RC building still has 18 of its 47-year statutory useful life left to value, so land and building together come to about 105.68 million yen, an assessed ratio of about 96.1% of the price. Using the lowest local-street band in the district, 165,000 yen/m², the ratio is still about 92.6%. The seller's listing gives a reference valuation of 67,143,615 yen without stating how it was calculated.

⚠️ The listings disagree on the zoning. Kenbiya shows Category 1 Low-Rise Exclusive Residential, while Rakumachi shows Category 1 Residential; only the latter is consistent with the 60% coverage and 200% floor area ratios. The 472.49 m² floor area is about 185% of the site, and adding the roughly 40 m² unregistered rooftop extension (a fifth-floor room) brings it to about 201%, slightly over the designated ratio. Common corridors and stairs are excluded from the floor area ratio, so it may still fit, but it is unknown whether the extension has a building confirmation certificate; if it is a building code violation, it could affect financing or require correction.

⚠️ The road access field is blank on both listings, so the width and type of the front road cannot be confirmed. If the front road is under 5 m wide, the road-width limit on the floor area ratio (width × 40%) drops the cap below 200%; even the current floor area needs a road at least about 4.63 m wide. The seller disclaims liability for non-conformity, and boundary demarcation is omitted.