|250,000,000 Yen||Land with existing structure (house)|
Oi, Shinagawa-ku, Tokyo
This is a historic western-style house located in Tokyo’s Shinagawa ward. The exact age of the house is unknown, although it appears to date from the early Showa period (around the 1930s).
The single-story wood-frame home is in largely original condition, although some additions have been added over the years. An extensive renovation project is required. The interior is a mix of Japanese and western style with all bedrooms fitted with tatami mats, while the formal dining and living room finished with wooden floors and wainscoting.
The house has a total registered floor area of 117.35 sqm (1,263 sq.ft) and sits on a 423 sqm block of freehold land. There is no garage or car entrance.
Large parts of the Oi neighborhood managed to escape damage during WWII air raids. The area was once home to grand houses on large allotments with big gardens, but rapid economic growth following WWII has seen many of these large estates subdivided into small homes catering to the growing middle-class. A single large home once sat next-door to this home on the western boundary, but has since been replaced with 15 homes and flats.
The seller would prefer to sell the property to a buyer that also wants to use the home rather than demolish it.
As is the case with many locations in Tokyo, the surrounding streets are narrow and access with a large vehicle may be difficult. This house fronts onto a ward-owned street on the northern side that is just 2.72 meters wide. If the house was to be rebuilt, the road would need to be widened, resulting in a loss of approximately 20.36 sqm of the land.
The market price for vacant residential land in this neighbourhood is around 800,000 ~ 850,000 Yen/sqm, which would give this site a potential market price of up to 320 ~ 340 million Yen if it was vacant land. Government assessed land values at a nearby survey site have seen year-on-year increases for the past 4 years and are up almost 15% from 2013.
This is a Category 1 Exclusively Low-Rise Residential Neighborhood with low density regulations and height limits.
The land is about 19 meters above sea level. Part of the land falls within a 0.2 ~ 0.5m flood risk zone in the event of a ‘guerrilla rainstorm’ event. It is outside of any tsunami risk levels. The highest assumed tsunami level was 2 meters during an earthquake 1703, while the 1923 Kanto Earthquake produced waves of between 0.6 ~ 0.8 meters.
History of the Oi neighborhood:
During the Edo period, a spot in Minami-Oi between the Daiichi-Keihin highway and Oi Racecourse was the location of the Suzugamori Execution Grounds, used to execute criminals, anti-government conspirators and Christians. Over 100,000 people were executed at this site over a 220 year span.
Oi was recognized as a village in 1889, a town in 1908 and became part of Tokyo City’s Shinagawa ward in 1932. In 1939, land reclamation of the the area on the eastern side of the Daiichi-Keihin highway began. After WWII the man-made island became home to the Oi Racecourse and Oi Pier.
In the 1870s American zoologist and orientalist Edward Morse (1838-1925) discovered the Omori shell mound while looking out a train window between Yokohama and Tokyo. The discovery opened a study of archaeology and anthropology in Japan and was one of the first excavations of a shell mound in the world. The site shows signs of human settlement dating back to the Jomon period (14,000BC – 300BC). The shell mound is about 450 meters south-east of this house and is a public park and historic site.
Haneda Airport is about 5km south-east of this house.
|Type:||Land with existing structure (house)|
|Land size (registered):||423.47 sqm (4,557 sq.ft)|
|House size (registered):||117.35 sqm (1,263 sq.ft)|
|Setback:||Approx. 20.36 sqm|
|Road:||2.72m wide ward road on north side|
|Zoning:||Category I Exclusively Low-Rise Residential Zone|
|Building footprint ratio:|
|Floor area ratio:|
|Status:||Occupied by seller|
|*Inspection by advance appointment only.|
|Last updated:||April 19, 2018||Next update (scheduled):||May 3, 2018.|
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*Show Foto, K.K. is a fully licensed real estate agency. We are able to assist buyers with the purchase of this property or similar ones. Our fees to buyers are 3% + 60,000 Yen + consumption tax.
Transaction type: Brokerage.