Overview of Raionzumanshon Shodai Daini (ライオンズマンション初台第２)
Raionzumanshon Shodai Daini (ライオンズマンション初台第２) is a 48-year-old condominium located at Shibuyaku Yoyogi 4 Choume 31-2 (渋谷区代々木4丁目31-2), Tokyo, Japan. Built in 1978, it comprises 54 units in a 鉄骨造 structure. It was constructed by Nakano Kumi (中野組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥87.0万/sqm (approx. $5,797/sqm or $539/sqft).
Location & Neighborhood
The property is located at Shibuyaku Yoyogi 4 Choume 31-2 (渋谷区代々木4丁目31-2), Tokyo, 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
Seismic standards: Built in 1978, 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 48 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 54 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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