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Dear International Investors and Archaeologists,

 

I surveyed an apartment building in a residential neighborhood of Omori in Ota-ku this afternoon.

 

 

The apartment building’s specifications are as follows.

 

 

Location: 7, O0i, Shinagawa-ku, Tokyo (8-min walk to JR Omori station in Ota-ku)

Price: 150,000,000 yen

Land: 249.71 sq. meters

Floor area: 278.24 sq. meters

Built in: 1986

Structure: Wooden / 2 stories

Coverage: 60%

FAR: 150%

Yield: 8.7%  with current operation rate being 100%

Monthly revenue (March): 1,091,000 yen

 

 

 

 

 

Omori station is just two stations or about 5 minutes from Shinagawa station.  Omori has been popular among Japanese writers.  In fact, famous writers have settled in Omori, in particular, hills in the west of the station.    

 

 

 

 

 

 

Also, Omori is famous among Japanese people because a shell mound was found by a western scholar for the first time in Japan’s history.    When Dr. Edward Morse, a Havard scholar, was casually looking outside from a train from Yokohama for Shimbashi on June 19th, 1877, he found interesting arrangements of shells on cliffs by Omori station.  His instinct urged him to dig the area, and he found remains of an old civilization in Japan - stone tools, clay pots, stone axes, stone arrowheads, human bones, animal bones, and so on.  They have been registered and treated as important cultural properties since 1975 and been kept at University of Tokyo.

 

 

We read lots of news about current administration, especially we see two topics very positive for Tokyo real estate market.

 

 

1. Haneda Air port international hub plan
2. Linear Motor Car plan

 

 

1. Haneda Airport is currently focusing on domestic flight and not international flight, but current goverment just  announced they will use it for international flight as well. This is pretty positive for Japanese economy to attract more foreign flights from overseas, especially from Asia economic powers.

 

 

 This changes affects Tokyo real estate market espcially south area of Tokyo such as Oota-ku, Shinagawa-ku, Minato-ku and  Kanagawa prefecture such as Kawasaki, and Yokohama.

 

 

 If this ariport turns into international and 24 hours airport, needs for stay will increase definitely. Also, business  activity will pick up as well.

 

 

1-① Tokyo monorail will get benefit from this change, and also area around their stations, such as Hamamatsuho station, Tennozu station, and so on will be more popular in the future.

 

 

 
1-② Keikyu will also get benefit from this change and several stations are particulary interesting such as Shinagawa station,  Kawasaki satation, Keikyu kamata station, and Heiwajima station.

 

 

 
2. Linear Motor Car Plan
 Shinagawa station, Nagoya station, and Osaka station are almost done deal. (But official information is not open yet.)

 

 

Dear international investors,

 

I surveyed a brand-new apartment building in a quiet residential neighborhood of Omorinishi in Ota-ku yesterday afternoon.  Its specs are as follows:

 

Price:  188,000,000 yen (12 x 7-jo studio (@approx. 90,000 yen) + 3 x parking lot(@approx. 31,500 yen))

Annual revenue (estimation): 14,094,000 yen

Yield (estimation): 7.5%

Location: 2, Omorinishi, Ota-ku, Tokyo

Station: 5-min walk to Heiwajima station (Keihinkiyuko Line)

Land: 223.71 sq. meters

Floor area: 306.82 sq. meters

Structure: Steel / 3 stories

Coverage: 60%

FAR: 200%

 

 

 

 

 

Heiwajima  is a Keihinkiyuko Line station and is in-between Shinagawa and Haneda Air Port.   Because it is close to both Shinagawa and Haneda and rapid trains stop at the station, commercial districts around the station are bustling with small retails and shoppers although the areas are not so large. 

 

 

 

 

 

Neighborhoods are almost 100% residential with detached houses and newly-built  low-rise apartment buildings.   They are very quiet.  When I was there at around 4:30 pm, there were many bicycle riders. 

 

 

 

 

 

In my view, Heiwajima community looked very successful and attractive with much foot, bicycle, and auto traffic.  Also, I surveyed three local apartment buildings similar to the brand-new one in size, new-ness, and location in order to understand occupancy ratio of the neighborhood.  Unexpectedly,  the occupancy of the three apartments is high - 8/8, 13/15, and 46/60.  The last one (=46/60) may not look so good at first.  But the apartment building will be filled in due course because it is brand-new and people have just begun moving in.