Overview of Toyosaka Shintoshin Manshon (豊栄新都心マンション)
Toyosaka Shintoshin Manshon (豊栄新都心マンション) is a 45-year-old condominium located at Shibuyaku Honchou 3 Choume 48-21 (渋谷区本町3丁目48-21), Tokyo, Japan. Built in 1981, it comprises 95 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Nishimatsu Kensetsu (西松建設).
Pricing & Floor Plans
Based on 80 past listings, prices have ranged from 1,980〜8,299万円 (approx. $132,000–$553,267 USD at ¥150/$).
Unit sizes range from 38.6–79.4 sqm (415–855 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), 1SDK (1-bedroom w/ dining-kitchen + service room), 1LDK (1-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 1DK (1-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥124.1万/sqm (approx. $8,275/sqm or $769/sqft).
Location & Neighborhood
The property is located at Shibuyaku Honchou 3 Choume 48-21 (渋谷区本町3丁目48-21), Tokyo, Japan. It is a 5-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 45 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 95 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.
Analyze this property's fair price and negotiation room for free at RE:public.