|1-Bedroom + 1 Bathroom, 56.58 sqm
Jingumae, Shibuya-ku, Tokyo
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.
|6-35-3 Jingumae, Shibuya-ku, Tokyo||
|Size:||56.58 sqm (609 sq.ft)|
|Balcony:||4.00 sqm (43 sq.ft)|
|Construction:||11-storey + 1 Basement, Reinforced concrete|
|No. of apartments:||171|
|Earthquake standards:||Kyu-Taishin (Old code) (what does this mean?)|
|Developed by:||Tokyo Co-Op|
|Constructed by:||Shimizu Corporation|
|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:|
|Repair fund:||Incl. in management fee|
|Delivery:||To be negotiated|
|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:||May 26, 2017.||Next update (scheduled):||June 9, 2017.|
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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.