Overview of Asahi Puraza Ichioka (朝日プラザ市岡)
Asahi Puraza Ichioka (朝日プラザ市岡) is a 40-year-old condominium located at Oosakashi Minatoku Benten 2 Choume 13-20 (大阪市港区弁天2丁目13-20), Osaka, Japan. Built in 1986, it comprises 182 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Hasegawakoumuten (長谷川工務店).
Pricing & Floor Plans
Based on 74 past listings, prices have ranged from 1,280〜3,280万円 (approx. $85,333–$218,667 USD at ¥150/$).
Unit sizes range from 57.2–66.0 sqm (616–710 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥47.9万/sqm (approx. $3,193/sqm or $297/sqft).
Location & Neighborhood
The property is located at Oosakashi Minatoku Benten 2 Choume 13-20 (大阪市港区弁天2丁目13-20), Osaka, Japan. It is a 7-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 40 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 182 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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