Overview of Riibesuto Nakayama Midori No Machi B Tou (リーベスト中山緑の街Ｂ棟)
Riibesuto Nakayama Midori No Machi B Tou (リーベスト中山緑の街Ｂ棟) is a 27-year-old condominium located at Yokohamashimidoriku Miho Machi 2608-3 (横浜市緑区三保町2608-3), Kanagawa, Japan. Built in 1999, it comprises 149 units in a Reinforced Concrete (RC) structure. It was constructed by Matchou Kumi , Sumitomokensetsu (末長組、 住友建設).
Pricing & Floor Plans
Based on 25 past listings, prices have ranged from 1,890〜2,990万円 (approx. $126,000–$199,333 USD at ¥150/$).
Unit sizes range from 77.7–103.5 sqm (836–1114 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥32.3万/sqm (approx. $2,155/sqm or $200/sqft).
Location & Neighborhood
The property is located at Yokohamashimidoriku Miho Machi 2608-3 (横浜市緑区三保町2608-3), Kanagawa, Japan. It is a 16-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 27 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 149 units, this is a relatively large condominium. Larger buildings typically benefit from lower per-unit maintenance and repair reserve costs.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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