Overview of Nisshouiwai Ichikawa Manshon (日商岩井市川マンション)
Nisshouiwai Ichikawa Manshon (日商岩井市川マンション) is a 55-year-old condominium located at Ichikawashi Ichikawa 1 Choume 13-28 (市川市市川1丁目13-28), Chiba, Japan. Built in 1971, it comprises 65 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Hasegawakoumuten (長谷川工務店).
Pricing & Floor Plans
Based on 43 past listings, prices have ranged from 1,500〜5,490万円 (approx. $100,000–$366,000 USD at ¥150/$).
Unit sizes range from 52.6–138.8 sqm (566–1494 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), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3DK (3-bedroom w/ dining-kitchen), 1LDK (1-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥54.1万/sqm (approx. $3,605/sqm or $335/sqft).
Location & Neighborhood
The property is located at Ichikawashi Ichikawa 1 Choume 13-28 (市川市市川1丁目13-28), Chiba, Japan. It is a 3-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
Seismic standards: Built in 1971, this property predates Japan's 1981 New Seismic Design Standards (新耐震基準). Buildings constructed before June 1981 were built to older earthquake resistance codes. Buyers should consider seismic retrofit status.
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 55 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 65 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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