Co-Op Olympia 7F

92,800,000 Yen

(1,640,000 Yen/sqm)

1-Bedroom + 1 Bathroom, 56.58 sqm
Jingumae, Shibuya-ku, Tokyo

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 ABOUT

Co-op Olympia is a vintage apartment building located in a prime position in the heart of Harajuku. It is across the street from Harajuku Station and Yoyogi Park.

This was one of the very first luxury apartment buildings in Tokyo. When new, apartments were priced from 30 ~ 120 million Yen and were purchased by only the wealthiest businesspeople and celebrities. It was completed in 1965, just after the Tokyo Olympics which were held close-by. Its proximity to several of the Olympic sporting venues provided the inspiration for the building name.

The building has become a landmark for the area due to its unique design and prime location, and is a highly sought-after vintage residence / office location.

The building has a front desk, 24hr caretaker, a coin laundry in the basement, three elevators, and central air throughout the building.

This is a 1-Bedroom apartment on the 7th floor. It is south facing and located at the rear of the building (it does not have Yoyogi Park views). This is one of the few apartment types that come with a balcony.

The interior was updated in March 2004 with new bathroom, kitchen, wallpaper, wardrobes and carpeting.

The land share for this apartment is approximately 14 sqm.

The estimated rent for this apartment is approximately 200,000 Yen/month, which would result in a gross yield of around 2.58%. NOTE: Rental estimate and gross yield is provided as a general guide only and is not a guarantee of actual achievable rent now or in the future.

The building is self-managed.

There have been discussions about redeveloping this building since 2004 but there has been difficulty obtaining agreement from enough of the apartment owners.

*Please note that there is a possibility that this building exceeds current building height limits for this area. Unless allowances can be obtained, it is possible that a new building could not be built to the same size as the current building, resulting in smaller apartments for existing landowners. The current building was built to a 600% ratio, while current building capacity ratios are 450%. 

  • The building was built to the old earthquake codes (kyu-taishin) and may not meet current earthquake-resistant standards. Exterior earthquake-reinforcing may be difficult as the building is already built to the edges of the site boundaries. 
 LOCATION
Address: Transport:
  6-35-3 Jingumae, Shibuya-ku, Tokyo
  • Harajuku Station – 1 min walk
    (Yamanote Line)
  • Meiji Jingumae Station – 1 min walk
    (Chiyoda, Fukutoshin Lines)
  • Omotesando Station – 11 min walk
    (Ginza, Hanzomon, Chiyoda Lines)
Area Guide:
  • Yoyogi Park: 200 meters
  • Takeshita Street: 350 meters
  • Tokyu Plaza: 300 meters
  • Shibuya Crossing: 1,200 meters
  • Harajuku Cat Street: 400 meters
  • Omotesando Hills: 600 meters
 FLOORPLAN

 DETAILS
Type: 1-Bedroom Apartment
Size: 56.58 sqm (609 sq.ft)
Balcony: 4.00 sqm (43 sq.ft)
Floor: 7F
Construction: 11-storey + 1 Basement, Reinforced concrete
No. of apartments: 171
Built: March 1965
Earthquake standards: Kyu-Taishin (Old code) (what does this mean?)
Developed by: Tokyo Co-Op
Constructed by: Shimizu Corporation
Managed by: Self-managed
Land size: 3,523.26 sqm
Land ownership: 12 / 2,928 (Freehold)
Car parking: Not currently available
Pets: Negotiable (some restrictions apply)
Monthly building fees:
Management: 54,604 Yen
Repair fund: Incl. in management fee
Other:
TOTAL: 54,604 Yen
Transaction details:
Status: Vacant
Delivery: To be negotiated
Transaction type: Brokerage
Brokerage fee: 3% + 60,000 Yen + consumption tax, charged to buyer.
*Inspection by advance appointment only.
*Balcony size is an estimate. Actual size is unknown.
Last updated: July 21, 2017. Next update (scheduled): August 4, 2017.
 MAKE AN INQUIRY

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*Japan Property Central, K.K. is a fully licensed real estate agency. We are able to assist buyers with the purchase of this property or similar ones. Our fees to buyers are 3% + 60,000 Yen + consumption tax.

Transaction type: Brokerage.

Disclaimer:
All information contained herein is gathered from sources we believe to be reliable. However we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
All care has been taken in preparing this floor plan, however the accuracy is not guaranteed and no liability will be accepted for any reliance placed upon it. In the event of any conflict between the floor plan and actual conditions, the latter shall prevail. Dimensions are approximate.