Estate Prime · Japan Real Estate Advisory
Kanamecho Corpo-El Whole-Building Income Property
Prime spot one stop from Ikebukuro · 5 units on long leases · 3F duplex with elevated views
1-22-6 Kanamecho, Toshima-ku, Tokyo
Price
¥166M
JPY
Monthly rent
65.0
×10k JPY/mo
Yield
4.70
%
Type
Apartment
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Advisor Perspective · HK Buyer Focus
Estate Prime Advisor View
Advisor View 01
Entry around HK$7.97M · prime spot one stop from Ikebukuro
With the yen near multi-year lows, entry in HKD terms is about HK$7.97M. For the same money as in Hong Kong, Tokyo offers more usable floor area and higher income potential. Three minutes from Kanamecho, one stop to Ikebukuro, with 5 units on long leases at ¥650,000/month. If the yen recovers toward 140, capital upside could exceed 10%.
Advisor View 02
3F duplex · jacuzzi · premium kitchen · elevated terrace views
The 3rd-floor unit is a two-level duplex with a fully equipped kitchen and a jacuzzi bath, sitting at a high point of the neighborhood with open terrace views. This duplex layout is rare locally and gives a clear differentiation edge — whether for premium minpaku pricing or ryokan operation — supporting a meaningful premium.
Advisor View 03
5 units all on long leases · ¥650,000/month from day one
The 5 units run on long-term leases at ¥650,000/month — steadier than the seasonal swings of minpaku. Exterior walls and rooftop waterproofing were fully renewed in 2022 and unit fittings are being progressively replaced; the repair record is transparent and a new owner takes over income immediately.
Advisor View 04
Apply for a ryokan (simple-lodging) permit → 365-day operation, returns doubled
The SRC structure and 3 above-ground floors meet the basic building conditions to apply for a hotel/ryokan (simple-lodging) permit. Once granted, 365-day operation plus the top-floor duplex premium sharply lifts annual income potential. Whether the application is approved depends on the authorities' actual review — no guarantee is made; check with the Toshima Ward authority before purchase.
Advisor View 05 · Risk disclosure (must read)
Toshima minpaku ordinance: capped at 120 days/year from Dec 2026
Toshima Ward unanimously passed an ordinance on 2 Dec 2025 cutting private-lodging operating days to 120/year (spring/summer/winter holidays only), applied retroactively to existing facilities, effective 16 Dec 2026. This property currently runs on long leases and is not directly affected near-term, but any conversion to minpaku must factor in this cap. The asking price already reflects this backdrop.
Investment Highlights
Investment Highlights
3F duplex with jacuzzi & high terrace views — a rare layout locally, commanding a premium for high-end short-let or a ryokan licence
One stop to Ikebukuro; 5 units already on long leases at ¥650,000/mo — no re-letting wait
Ryokan-licence upside: 365-day operation once a simple-lodging permit is granted, with potential to double returns (subject to authority review; not guaranteed)
SRC structure; exterior walls & rooftop waterproofing fully renewed in 2022, with a transparent repair record
Entry around HK$7.97M — yen near multi-year lows, plus Toshima urban-renewal upside
Market Context
Inbound visitors to Japan topped 33 million in 2024, with the peak continuing into 2025–26. Tokyo ranks as the world's No.2 city for real-estate investment volume (JLL 2024). A persistently weak yen keeps the HKD entry cost near multi-year lows, while Toshima urban renewal drives long-term appreciation across the Ikebukuro living area.
Financial Analysis
Financial Analysis & Cash Flow
Currency Conversion · HKD First
Currency conversion (¥166M)
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Investment calculator
(Indicative only — consult an advisor for actual figures)Scenario Return Comparison & Analysis
Scenario Return Comparison & Analysis
| Scenario | Annual (est.) | Monthly (est.) | Gross yield | Leveraged* |
|---|---|---|---|---|
| Long lease (current) | ¥7.8M/yr | ¥650k/mo | 4.7% | 9.4% |
| Minpaku 180 days | ¥12.0M/yr | ¥1.00M/mo | 7.2% | 14.5% |
| ⚠️ Minpaku 120 days (Toshima cap) | ¥8.0M/yr | ¥670k/mo | 4.8% | 9.6% |
| 🟢 Ryokan 365 days | ¥15.0M/yr | ¥1.25M/mo | 9.0% | 18.1% |
* Leveraged yield assumes a 50% loan, computed on the actual equity outlay (¥83M) before loan interest — deduct interest per your actual terms.
⚠️ The 120-day minpaku figure is a Toshima Ward special rule (effective 16 Dec 2026, retroactive to existing facilities).
🟢 Whether a ryokan permit is granted depends on the authorities' review; figures are estimates and constitute no guarantee.
The core logic is "long-lease floor, ryokan upside": five units on long leases at ¥650,000/month provide a stable cash-flow floor, while the SRC structure meets the basic building conditions for a simple-lodging permit — if granted, 365-day operation plus the top-floor duplex premium could push annual income toward the ¥15M range. With the 2022 major renovation complete, near-term maintenance stays controlled — a balanced, defend-and-attack setup.
✅ Strengths
- ·3 min to Kanamecho, 1 stop to Ikebukuro
- ·3F duplex · jacuzzi · terrace
- ·5 units on long leases — immediate cash flow
- ·SRC structure, major renovation done 2022
- ·Entry near multi-year low around HK$7.97M
⚠️ Weaknesses
- ·29 years old — building ageing
- ·Minpaku conversion capped at 120 days
- ·Ryokan-permit outcome uncertain
- ·No parking
🔵 Opportunities
- ·Ryokan permit → 365-day operation
- ·Premium pricing for the duplex unit
- ·Weak yen keeps entry cost low
- ·Ikebukuro redevelopment lifting land value
🔴 Threats
- ·120-day cap effective Dec 2026
- ·Ryokan application may be refused
- ·More competing supply
- ·Yen appreciation narrowing the FX edge
Discuss investment feasibility
Estate Prime arranges due diligence, site inspection and full purchase support.
Contact us → estateprime.netNeighborhood & Lifestyle
Neighborhood & Lifestyle
Kanamecho is a quiet residential pocket beside Ikebukuro, combining commercial convenience with residential calm. Kanamecho Station is served by both the Tokyo Metro Yurakucho and Fukutoshin lines — the Yurakucho line runs directly toward Iidabashi, Yurakucho and Ginza, while the Fukutoshin line reaches Shinjuku-sanchome and Shibuya and through-runs onto the Tokyu Toyoko line to Yokohama, covering Tokyo's east and west corridors from a single stop.
For daily life, supermarkets, drugstores and eateries sit within walking distance; one stop away, Ikebukuro is among Japan's busiest stations, with Seibu and Tobu department stores, major retail, and concentrated medical and education resources — highly convenient for both long-term tenants and short-stay guests.
In December 2025 Toshima Ward passed a new private-lodging ordinance cutting operating days to 120/year (effective 16 Dec 2026, retroactive to existing facilities) — a ward-wide tightening. For this property, the long-lease status is unaffected and the hotel/ryokan (simple-lodging) route is exempt from this cap, which in fact raises the relative value of licensed and long-lease assets.
On the upside, a major redevelopment of the Ikebukuro west-exit area is under way, and projects such as Hareza Ikebukuro under Toshima's "International City of Arts and Culture" vision continue to open — lifting land values across the Ikebukuro living area, with Kanamecho, one stop away, a direct beneficiary.
Property Specifications
Property Specifications
Overview
Area & Land
Zoning & Facilities
Financials
Data Notes & Verification
Data Notes & Verification
Toshima minpaku ordinance effective 16 Dec 2026 (120 days/year, retroactive); any ryokan-permit outcome is subject to authority review and not guaranteed. Exterior common-area painting and rooftop waterproofing completed Nov 2022.
epc Estate Prime
Japan Real Estate Advisory
Estate Prime is a boutique advisory focused on Japanese real-estate investment, serving high-net-worth investors from Hong Kong, Taiwan and Mainland China. With deep knowledge of the Japan market — hotel/ryokan regulation and the minpaku system — we provide a one-stop solution from sourcing to purchase and ongoing management.
Selected Tokyo income properties matched to your goals
Assessing whether a property qualifies for a hotel/ryokan licence
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Why Estate Prime
Why Estate Prime
Deep Japan-market knowledge
Focused on Tokyo income property — fluent in district regulations, minpaku rules and ryokan licensing, tracking policy so you decide at the right moment.
Serving HK / TW / China investors
Full service in Cantonese, Mandarin, English and Japanese, with financials, FX and tax planning tailored to each market.
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Every report states both strengths and risks — regulatory change, application uncertainty — nothing hidden, built on long-term trust.
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Long-standing ties with local agents, lawyers, scriveners and management firms — worry-free after purchase.
Disclaimer
Prepared by Estate Prime. All financial figures and yields are estimates and do not constitute investment advice or any guarantee. Property details follow the registry and current-condition survey; actual conditions may differ. Hotel/minpaku licensing depends on the authorities' review and is not guaranteed. FX is based on the reference-date rate; actual transactions use the rate of the day. Conduct full due diligence and consult legal and financial advisors before purchase.