Advance Residence To Acquire Two Apartment Properties in Setagaya and Itabashi
Advance Residence Investment Corporation decided on May 19, 2026, to acquire two apartment properties in Setagaya 4-chome, Tokyo, and Higashiyama-cho, Itabashi Ward. The planned acquisition price totals approximately JPY 4.1 billion. The scheduled acquisition date is May 27, 2026, for Residia Shoin-jinja-mae and May 28, 2026, for Residia Tokiwadai.
Residia Shoin-jinja-mae is an apartment property completed in 2018 and located about a three-minute walk from Shoin-jinja-mae Station on the Tokyu Setagaya Line. The property has a Gross Floor Area of approximately 646 tsubo (approx. 23,000 sq. ft.) and 51 leasable units, with an occupancy rate by leasable area of 100% as of the end of March 2026. The seller is ITOCHU Property Development, Ltd.
Residia Tokiwadai is a recently completed apartment property finished in 2023 and located about a 12-minute walk from Tokiwadai Station on the Tobu Tojo Line. The property has a Gross Floor Area of approximately 427 tsubo (approx. 15,200 sq. ft.) and 38 leasable units, with an occupancy rate by leasable area of 93.4% as of the end of March 2026. The seller was not disclosed.
Demand for single-person units in the areas around both properties remains firm, with occupancy rates for 1R and 1K rental apartments within a 10-minute walk of Shoin-jinja-mae Station and Tokiwadai Station both staying above 95%, according to research conducted by the editorial team based on estie Residential Research. Both properties are also primarily composed of single-person units, suggesting the acquisitions are based on expectations for stable rental demand.
Key Facts
- Buyer: Advance Residence Investment Corporation
- Total Planned Acquisition Price: JPY 4,064 million
- Total Appraised Value: JPY 4,290 million
- Property Name: Residia Shoin-jinja-mae
- Previous Name: CREVIA RXE Setagaya Shoin-jinja-mae
- Seller: Itochu Property Development, Ltd.
- Scheduled Acquisition Date: May 27, 2026, or a date separately agreed with the seller
- Planned Acquisition Price: JPY 2,843 million
- Appraised Value: JPY 3,000 million
- NOI Yield: 3.7%
- Location: 4-14-27 Setagaya, Setagaya Ward, Tokyo
- Nearest Station: About a three-minute walk from Shoin-jinja-mae Station on the Tokyu Setagaya Line
- Completion: January 2018
- Number of Floors: 9F
- Structure: Reinforced concrete
- Use: Apartments and retail
- Area: Land area approx. 183 tsubo (approx. 6,500 sq. ft.) / Gross Floor Area approx. 646 tsubo (approx. 23,000 sq. ft.) / Leasable Area approx. 534 tsubo (approx. 19,000 sq. ft.)
- Leasable Units: 51
- Occupancy Rate: 100% as of March 31, 2026
- Property Name: Residia Tokiwadai
- Previous Name: URBANLINK Tokiwadai
- Seller: Undisclosed, a domestic special purpose company
- Scheduled Acquisition Date: May 28, 2026, or a date separately agreed with the seller
- Planned Acquisition Price: JPY 1,221 million
- Appraised Value: JPY 1,290 million
- NOI Yield: 3.9%
- Location: 28-9 Higashiyama-cho, Itabashi Ward, Tokyo
- Nearest Station: About a 12-minute walk from Tokiwadai Station on the Tobu Tojo Line
- Completion: October 2023
- Number of Floors: 8F
- Structure: Reinforced concrete
- Use: Apartments
- Area: Land area approx. 135 tsubo (approx. 4,800 sq. ft.) / Gross Floor Area approx. 427 tsubo (approx. 15,200 sq. ft.) / Leasable Area approx. 387 tsubo (approx. 13,800 sq. ft.)
- Leasable Units: 38
- Occupancy Rate: 93.4% as of March 31, 2026