Overview of Raionzumanshon Morioka Nai Maru (ライオンズマンション盛岡内丸)
Raionzumanshon Morioka Nai Maru (ライオンズマンション盛岡内丸) is a 34-year-old condominium located at Moriokashi Nai Maru 16-37 (盛岡市内丸16-37), Iwate, Japan. Built in 1992, it comprises 81 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Satou Kougyou (佐藤工業).
Pricing & Floor Plans
Based on 85 past listings, prices have ranged from 254〜1,230万円 (approx. $16,933–$82,000 USD at ¥150/$).
Unit sizes range from 21.0–39.0 sqm (226–420 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 1K (1-bedroom w/ kitchen), 1R (Studio), 1DK (1-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥14.2万/sqm (approx. $949/sqm or $88/sqft).
Location & Neighborhood
The property is located at Moriokashi Nai Maru 16-37 (盛岡市内丸16-37), Iwate, 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 81 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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