Overview of Miyagimanshon Ueno (ミヤギマンション上野)
Miyagimanshon Ueno (ミヤギマンション上野) is a 32-year-old condominium located at Ishinomakishi Taigai Doutou 1 Choume 2-34 (石巻市大街道東1丁目2-34), Miyagi, Japan. Built in 1994, it comprises 52 units in a Reinforced Concrete (RC) structure. It was constructed by Wada Kougyou (和田工業).
Pricing & Floor Plans
Based on 40 past listings, prices have ranged from 350〜1,250万円 (approx. $23,333–$83,333 USD at ¥150/$).
Unit sizes range from 55.5–72.2 sqm (597–777 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3DK (3-bedroom w/ dining-kitchen), 4DK (4-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥8.3万/sqm (approx. $553/sqm or $51/sqft).
Location & Neighborhood
The property is located at Ishinomakishi Taigai Doutou 1 Choume 2-34 (石巻市大街道東1丁目2-34), Miyagi, Japan. It is a 10-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 32 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 52 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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