Property in Higashimatsuyama, Saitama
This property is a land and building combination located at 22-11, Kawarayama, Oaza Ishibashi, Higashimatsuyama City, Saitama Prefecture. The property is being sold via court auction with a base price of 9,155,000 JPY. The auction has concluded. The building is a single-story wooden structure with a galvanized steel sheet roof, registered for use as an office/warehouse. The total registered building area is 10.54 square meters.
According to AI analysis of the property files, there are significant risks. The building (Lot 10) may be an illegal structure built without obtaining the required building confirmation, which could impose restrictions on future use or disposal. The rebuilding of the structure requires permission under the City Planning Act, and the prospects for this are unclear. Several of the land lots (Lots 1, 2, 5, 6, 7, 8) are currently used as public roads, making private use difficult. The boundaries for land lots 4 and 9 are unclear in some areas with adjacent land, posing a risk of future disputes. The entire property is located within an Urbanization Control Area, limiting new development and large-scale renovations. Public sewerage is not available, so a septic tank must be maintained at an ongoing cost.
The legal issues include the main and auxiliary buildings (Lot 10) not having obtained building confirmation. Parts of land lots 4 and 9 have unclear boundaries with neighboring land. Multiple land lots (1, 2, 3, 5, 6, 7, 8) are currently used as public roads, creating a discrepancy between the registered land category and the actual use. Being in an Urbanization Control Area imposes legal restrictions on development and construction under the Building Standards Act and City Planning Act.
The property is zoned as an Urbanization Control Area with a building coverage ratio of 60% and a floor area ratio of 200%. The required deposit for the auction was 1,830,000 JPY, with a minimum purchase price of 7,320,000 JPY. The estimated monthly rental income is 64,590 JPY, yielding a surface return of 8.5%.
