Overview of Paakuhoomuzu Fukushima Erugureesu (パークホームズ福島エルグレース)
Paakuhoomuzu Fukushima Erugureesu (パークホームズ福島エルグレース) is a 23-year-old condominium located at Oosakashi Fukushima Ku Ebie 2 Choume 10-35 (大阪市福島区海老江2丁目10-35), Osaka, Japan. Built in 2003, it comprises 179 units in a Reinforced Concrete (RC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Based on 48 past listings, prices have ranged from 2,760〜8,490万円 (approx. $184,000–$566,000 USD at ¥150/$).
Unit sizes range from 69.9–89.7 sqm (752–966 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3SLDK (3-bedroom w/ living-dining-kitchen + service room).
Estimated price per sqm: ¥90.5万/sqm (approx. $6,030/sqm or $560/sqft).
Location & Neighborhood
The property is located at Oosakashi Fukushima Ku Ebie 2 Choume 10-35 (大阪市福島区海老江2丁目10-35), Osaka, Japan. It is a 4-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
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 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 179 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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