Selected images and diagrams are reproduced from the materials supplied for this listing.
This is a whole freehold apartment building at 3-39-22 Shimoigusa in Suginami Ward, offered as an owner-change sale with the tenancies in place. It is of wood frame construction over two storeys, completed in March 1989, with 231.00 sq m of floor area across seven units on a registered site of 256.31 sq m.
The floor plan supplied for the listing shows six single units of 21.53 to 23.38 sq m, four on the ground floor and two on the first, together with one maisonette 3LDK of 97.77 sq m that runs across both levels and has a separate attic of about 25 sq m. Recorded fittings include a separate bathroom and WC, a reheating bath function, storage, city gas and air conditioning. There is on-site parking with two spaces recorded and bicycle parking.
The listing material records a projected annual rent of JPY 6,564,000, an indicative gross yield of 4.69% on the asking price of JPY 140,000,000, before tax, management, repairs, insurance and vacancy. No rent roll has been supplied, so tenancy terms and current occupancy are confirmed on enquiry. The site carries a private road burden of 107.10 sq m held as a 6/18 shared interest, and the frontage is an east-facing 4.5 m private road with position designation; the related consents and the designation drawing are confirmed on enquiry.
| Property Type | Tenanted Apartment Building (Owner-Change Sale) |
|---|---|
| Asking Price | JPY 140,000,000 |
| Address | 3-39-22 Shimoigusa, Suginami-ku, Tokyo |
| Nearest Station | Shimo-igusa Station (Seibu Shinjuku Line) |
| Walking Distance | Approx. 2 min |
| Access | Iogi Station (Seibu Shinjuku Line) approx. 10 min on foot · Saginomiya Station (Seibu Shinjuku Line) approx. 20 min |
| Number of Units | 7 Units |
| Layout | Six single units of 21.53–23.38 sq m and one maisonette 3LDK of 97.77 sq m |
| Building Area | 231.00 sq m, total floor area |
| Land Area | 256.31 sq m (registered, 77.53 tsubo) |
| Private Road Burden | 107.10 sq m, 6/18 shared interest |
| Building Height | 2 Storeys |
| Building Structure | Wood Frame |
| Year Built | March 1989 |
| Tenure | Freehold Ownership |
| Zoning | Category I Low-Rise Exclusive Residential District, urbanisation promotion area |
| Building Coverage Ratio | 50% |
| Floor Area Ratio | 100% |
| Land Category | Residential land |
| Road Frontage | East, 4.5 m private road with position designation |
| Parking | On-site parking, two spaces recorded; bicycle parking |
| Building Facilities | Separate bathroom and WC, reheating bath function, storage, city gas, air conditioning |
| Occupancy | Tenanted — owner-change sale |
| Current Annual Rental Income | JPY 6,564,000 (projected) |
| Indicative Gross Yield | 4.69% |
| Handover | By consultation |
Areas are the registered figures from the listing material and remain subject to verification against the register and a survey.
The gross yield is the projected annual rent divided by the asking price, before tax, management, repairs, insurance and vacancy. It is not a net return.
The site carries a private road burden of 107.10 sq m as a 6/18 shared interest and fronts a position-designated private road. The listing material records no rent roll, constructor or repair history; each is confirmed on enquiry.
The building stands at 3-39-22 Shimoigusa in Suginami Ward, in the low-rise residential belt that runs west from Nakano along the Seibu Shinjuku Line.
The listing material records Shimo-igusa Station at approximately two minutes on foot, Iogi at approximately ten minutes and Saginomiya at approximately twenty minutes, all on the Seibu Shinjuku Line. Two minutes to a station is about as close as a whole building in this part of Tokyo gets, and the line runs directly to Takadanobaba for the JR Yamanote Line and on to Seibu-Shinjuku. Journey times vary with the service, so none are stated here.
The surrounding area is zoned Category I Low-Rise Exclusive Residential, the most protected residential category in Japan, which limits the height and use of neighbouring development. Shimo-igusa has a small shopping street by the station, and Ogikubo and Nakano are both a short ride away.
The map indicates the location of the building. Walking times above are as stated in the listing material.
Open in Google MapsLand prices in Tokyo's 23 wards rose again in the survey published this year, and Suginami Ward rose with them.
In the Reiwa 8 (2026) Official Land Price Survey, residential land in Suginami Ward rose 8.2% on the previous year, and the all-use average for the ward rose 10.8%. Across the 23 wards as a whole, residential land rose 9.0%.
On the rental side, the At Home – Sumitomo Mitsui Trust Research Institute Mansion Rent Index for Q1 2026 records the single-type index for Tokyo's 23 wards — units of 18 to under 30 sq m, the band six of the seven units here fall into — up approximately 8.1% year on year.
These figures describe Suginami Ward and Tokyo's 23 wards, not this individual property. The land figures are averages across all official reference points in the ward and are not an appraisal of this address. The rent index covers quality-adjusted contracted rents for condominium-type buildings across the 23 wards, not wood-frame apartment buildings and not this address specifically; it is shown as a directional indicator only. None of them guarantees future rent, value or performance.
Sources:
Two minutes to the station is the number that carries this one. Small buildings that close to a Seibu Shinjuku Line station rarely come up, and for a seven-unit building it is the single strongest support a rent roll can have.
The mix is unusual and, to my mind, in the owner's favour: six single units of around 21 to 23 sq m alongside one 97.77 sq m maisonette 3LDK with its own attic. The small units carry the turnover and the large one carries a household that tends to stay. The plot is also generous for the building on it — 256.31 sq m of freehold land under 231.00 sq m of floor area, in a Category I Low-Rise Exclusive Residential district where what goes up next door is tightly limited.
Two things a buyer should look at properly. The building is wood frame from 1989, so the repair history and the condition of the units matter more than the headline 4.69%. And the site carries a 107.10 sq m private road burden as a 6/18 shared interest on a position-designated road, so the passage and excavation consents belong on the checklist. Residential land in Suginami rose 8.2% this year. Future property value and market performance cannot be guaranteed.
This property is introduced through a Japanese real estate partner. Availability, price and property details remain subject to confirmation at the time of enquiry.
