Tosei Acquires Rental Apartment Building in Kohoku Ward, Yokohama

Tosei has acquired “Shin-Yokohama Garden Court B-Side,” a rental apartment building in Nippa-cho, Kohoku Ward, Yokohama. The seller was local company Satsuki Sangyo.

The property is a reinforced concrete (RC) apartment building with five floors above ground and one basement level, completed in March 1993. The Gross Floor Area is approximately 464 tsubo (approx. 16,555 sq. ft.). It is an eight-minute walk from Kita-Shin-Yokohama Station on the Yokohama Municipal Subway Blue Line and a nine-minute walk from Nippa Station, with Shin-Yokohama Station accessible in four minutes.

Tosei has been advancing a strategy of acquiring relatively new to mid-aged residential assets in and around central Tokyo and securing returns through dispositions after value-add initiatives (see related article: “Tosei Acquires Rental Housing in Higashi-Ikebukuro, Toshima Ward”). For the fiscal year ended November 2025, the company sold 34 single-asset properties in its value-add business, achieving a gross profit margin of 29.1%. Tosei enhances profitability through its value-add approach using its proprietary “Value Up Code” and a 32-item checklist. Given that this property is approximately 33 years old, there appears to be room to improve rents through equipment upgrades and common-area renovations.

Key Facts

• Property Name: Shin-Yokohama Garden Court B-Side

• Buyer: Tosei Corporation

• Seller: Satsuki Sangyo Co., Ltd.

• Location: 790 Nippa-cho, Kohoku Ward, Yokohama, Kanagawa Prefecture

• Nearest Station: Kita-Shin-Yokohama Station (Yokohama Municipal Subway Blue Line), 8-minute walk

• Completion: March 1993

• Number of Floors: 5F / B1

• Structure: Reinforced concrete (RC)

• Gross Floor Area: approx. 464 tsubo (approx. 16,555 sq. ft.)