Overview of Koopu Nomura Iwakura Ichiban Kan (コープ野村岩倉壱番館)
Koopu Nomura Iwakura Ichiban Kan (コープ野村岩倉壱番館) is a 34-year-old condominium located at Iwakura Shi Shinryuu Machi 1 Choume 35-3 (岩倉市新柳町1丁目35-3), Aichi, Japan. Built in 1992, it comprises 105 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Dainippon Doboku (大日本土木).
Pricing & Floor Plans
Based on 39 past listings, prices have ranged from 1,180〜2,399万円 (approx. $78,667–$159,933 USD at ¥150/$).
Unit sizes range from 75.8–97.8 sqm (816–1053 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 4SLDK (4-bedroom w/ living-dining-kitchen + service room), 3SLDK (3-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥20.6万/sqm (approx. $1,370/sqm or $127/sqft).
Location & Neighborhood
The property is located at Iwakura Shi Shinryuu Machi 1 Choume 35-3 (岩倉市新柳町1丁目35-3), Aichi, 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 34 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 105 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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