Overview of Raionzumanshon Ooita Eki Minami (ライオンズマンション大分駅南)
Raionzumanshon Ooita Eki Minami (ライオンズマンション大分駅南) is a 36-year-old condominium located at Ooita Shi Toudai Michi 2 Choume 5-53 (大分市東大道2丁目5-53), Oita, Japan. Built in 1990, it comprises 123 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Mitsuikensetsu (三井建設).
Pricing & Floor Plans
Based on 25 past listings, prices have ranged from 880〜2,680万円 (approx. $58,667–$178,667 USD at ¥150/$).
Unit sizes range from 46.6–83.1 sqm (502–894 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 4LDK (4-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥23.3万/sqm (approx. $1,553/sqm or $144/sqft).
Location & Neighborhood
The property is located at Ooita Shi Toudai Michi 2 Choume 5-53 (大分市東大道2丁目5-53), Oita, Japan. It is a 8-minute walk to the nearest station. This is considered good station access by Japanese standards.
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 36 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 123 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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