[Assessed 80.1%] Apartment building in Itabashi Ward, Tokyo — 11 min from Narimasu Sta.

A newly built two-storey steel-frame apartment building with 14 units, completed in March 2026 in Narimasu 4-chome, Itabashi Ward. The nearest station is Narimasu on the Tobu Tojo Line, an 11-minute walk (another listing for the same property says 9 minutes; we use the longer figure). ⚠️ The assessed ratio is about 80.07%, a narrow margin that falls below 80% if the assumptions change only slightly. We used ¥340,000/m², the most common value on the local streets of Narimasu 4-chome, as the representative route price, but one step lower, ¥330,000/m², would give about 78.43%, below 80%. Because the lot number is not disclosed, the route-price band of the road the property faces has not been identified. The road-access field is also blank, so it is unknown whether there is a setback or a private road; if the deduction from the effective lot area exceeds 0.65 m², the ratio falls below 80%.

The land is 489.43 m² (148.05 tsubo) freehold, in a Category 1 low-rise exclusive residential zone (building coverage ratio 40%, floor area ratio 80%) and a quasi-fire prevention district. The building has 14 units in a total floor area of 323.16 m², about 23 m² per unit on average. Judging from the floor plan and exterior, it appears to be a stacked row-house (nagaya) type in which the upper-floor units also have their own entrances on the ground floor. Annual rent when fully occupied is ¥15.276 million (gross yield 5.15%), and it is currently tenanted. The transaction is brokered, and the listing gives no building name or builder.

The same property is listed twice on Kenbiya, at ¥296.6 million and ¥305.52 million. We use the lower price of ¥296.6 million; at ¥305.52 million the assessed ratio would be about 77.74%. ⚠️ The structure is given only as "S (steel)", without saying whether it is heavy or light steel, so we assessed it as light steel, which gives the lower value. If it is heavy steel, the ratio would be about 88.79%. The representative street went from ¥300,000 in 2024 to ¥320,000 in 2025 and ¥340,000/m² in 2026, up about 13.3% in two years (leasehold ratio D). As the building is new, it also carries an assessed value, equal to about 24% of the price.

The listing photos show the exterior, an interior and the floor plan. The exterior was taken from the paved courtyard on the entrance side; the courtyard is flat and level with the ground-floor entrances. There is no earth-retaining structure visible at the foot of the metal fence on the far boundary, and no retaining walls or steps appear in the photos. However, the connection to the front road (any level difference or steps), the back of the building and the boundary on the opposite side are not shown. As a stacked row-house type with many units, it may be subject to the row-house provisions of the Tokyo Metropolitan Building Safety Ordinance (such as the width of on-site passages), but the passage width has not been confirmed. Distances to nearby places are straight-line distances from the centroid of Narimasu 4-chome (OpenStreetMap), not from the property.