Reviewer The editorial team's assessment
Standing in the Mikuni district of the Naeba area, this is a large building built in 1990 with 234 units, and its shared facilities are substantial — a heated (non-hot-spring) communal bath, a restaurant, a sports room and three owners-only guest rooms — with the cost of maintaining them carried in the management fee. The listing price per tsubo is broadly consistent with Mansion Review's reference index, so no distortion is visible in the price itself. The dividing line for judgment is instead the holding cost: the annual upkeep of the representative unit is at a level exceeding a quarter of the price, making this a building whose economics should be considered from annual outgoings rather than from the low acquisition price. Units combine an electric water heater with an electric panel heater and have no gas piping, and because neither of the two listed units has a balcony an outdoor air-conditioner unit cannot be installed, so winter heating depends on the built-in electric heater. It is more than 30 minutes by car from Echigo-Yuzawa Station, so please also confirm how easy the trip is on the assumption of winter road conditions.