Iwappara

Urban Hills Yuzawa Resort

Property health check

Possible statistical drop

May be an artifact of the statistics, not a real drop

¥2.0M¥9.0M

Upkeep from ¥18,860/mo · 4 for sale

≈US$13K–US$57K *approx.

Data as of 2026-08

Asking price / tsuboPrice per tsubo (approx. 3.3㎡)¥110K–¥427K
Holding-cost ratioAnnual upkeep ÷ price23.4%
Repair reserve fundMonthly, per ㎡¥88/m²
Listing concentrationUnits for sale ÷ total units1.6%4/248 units

Property overview

Address43-16 Kaminakago, Tsuchitaru, Yuzawa Town, Minamiuonuma District, Niigata Prefecture
Built1990 (36 yrs old)Seismic standardPost-1981 seismic code
StructureSteel-frame reinforced concrete, 11 floorsTotal units248 units
Main shared facilitiesCommunal bath: hot spring communal bath (heated, circulating filtration), with sauna (free), open 24 hours [11F] [Cleaning hours] daily 10:00–12:00 (with the men's and women's baths swapped and cleaned 9:00–15:00 on Wednesdays and Fridays respectively) [Sauna] 12:00–22:00Pool (kur): 10m heated pool (free), open only from mid-July to late August, 9:00–17:00 (daily during the period)Restaurant: Restaurant Lounge ZEZE. Lunch 11:30–14:00, dinner 17:00–22:00 (L.O. 21:30) *Opening days and hours are subject to change. Please confirm details on site.Sports room: 24 hours (free)Owners-only guest room: 1 room (capacity 4) ¥5,000 per room per night *A separate linen charge appliesCoin laundry: washers and dryers (6 each)Other shared facilities: karaoke (¥1,000/hour *extension ¥1,000/hour), mahjong (4 hours free), 11F multi-purpose hall (¥300/hour), library, mailboxes, linen and futon rental, a telephone installed in each unit (outside line only)Pets: allowed (up to 30cm at the shoulder; one dog or cat per unit) Summary of the rules on bringing pets
Heating & hot waterHeating:FF-type kerosene fan heater
Hot water:Electric water heater
Gas:None
AccessIwappara-Skijomae Station (Joetsu Line):About 50m, about 1 min on foot
Yuzawa IC (Kan-etsu Expressway):About 2.6km, about 4 min by car
Echigo-Yuzawa Station:About 3.3km, about 5 min by car
AreaIwapparaManagementFull commission (resident staff)・Nihon Housing Co., Ltd.
ParkingOutdoor: 86 spaces in summer, 82 in winter (subject to change with snow conditions) Indoor: 10 spaces [Outdoor] first vehicle ¥200/24 hours, second vehicle ¥500/24 hours *For continuous use, a monthly maximum of ¥5,000 for the first vehicle and ¥5,000 for the second [Indoor] ¥1,000/24 hours *During the year-end and New Year period, one space per unit only *Monthly contracts available to permanent residents only (outdoor only): ¥5,000 per vehicle per month
Restaurants (800m)None found within 800mShops (800m)Supermarkets none / Convenience stores none
Listing status4 listings ¥2.0M–¥9.0MData as of2026-08
AssessmentPossible statistical drop
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Aspect 01

Price check (gap vs. market index)

Assessment: Possible statistical drop

Asking-price range
¥2.0M–¥9.0M
Actual asking price / tsubo range
¥110K–¥427K
Average price / tsubo
¥241K
Market index (per tsubo)
¥110K/tsubo
Units for sale
4 units
Aspect 02

Units currently for sale (4)

2026-09-21 snapshotSource: エンゼル不動産
FloorLayoutAreaPricePrice / tsuboDetails
73F1LDK50.40 sqm (approx. 543 sqft)¥1.8M¥118K/tsuboListing
8F1LDK56.25 sqm (approx. 605 sqft)¥2.5M¥147K/tsuboListing
3F1K28.12 sqm (approx. 303 sqft)¥2.5M¥294K/tsuboListing
2F1LDK69.75 sqm (approx. 751 sqft)¥9.0M¥427K/tsuboListing
Aspect 03

Area closing prices (MLIT transaction data)

Scope
湯沢町 pre-owned condominium deals (2023年第2四半期〜2025年第3四半期)
Closed deals
14 listings
Median closing price / tsubo
¥262K
Closing price / tsubo (IQR)
¥132K–¥457K
This building's asking price / tsubo
¥110K–¥427K
Asking ÷ municipal closing median (approx.)
1.02×
Aspect 04

Holding-cost ratio

Management fee + reserve fund (monthly)
¥18,860–¥46,810
Holding-cost ratio (annual ÷ asking price)
23.4%
Aspect 05

Total annual holding cost (incl. taxes & fees)

ItemTypeAmount
Management fee + reserve fundMonthly¥18,860–¥46,810
Fixed asset taxYearly¥63,100
Annual total (12 months of fees + taxes & yearly costs)Yearlyapprox. ¥290K–¥620K
Usage frequencyFixed cost per night (using annual lower bound)
10 nights/yrapprox. ¥29,000/night
30 nights/yrapprox. ¥10,000/night
60 nights/yrapprox. ¥5,000/night
Aspect 06

Health of the repair reserve fund

0200400 ¥/m²

This property ¥88/m² / MLIT major-repair guide 190–325 yen/㎡

Aspect 07

Major-repair history & plans

WhenTypeDetails
2002.01CompletedLarge-scale repair works including exterior wall painting
Aspect 08

Listing concentration

Units for sale / total units
4 / 248 units
Listing concentration
1.6%
Aspect 09

Rental data & investment metrics

Rental listings
2 listings
Monthly rent
¥55,000–¥60,000
Gross yield guide (annual rent ÷ asking price, midpoints)
12.5%
Net yield guide (after upkeep)
7.3%
Break-even vs renting
About 11.9 years (purchase price recovered by the rent-minus-upkeep gap)

The rented and for-sale units may differ in size and floor. These yields indicate the building's general level, not the performance of a specific unit.

Aspect 10

Facility-risk profile

Upkeep-cost risk: Medium

  • Communal bath: hot spring communal bath (heated, circulating filtration), with sauna (free), open 24 hours [11F] [Cleaning hours] daily 10:00–12:00 (with the men's and women's baths swapped and cleaned 9:00–15:00 on Wednesdays and Fridays respectively) [Sauna] 12:00–22:00
  • Pool (kur): 10m heated pool (free), open only from mid-July to late August, 9:00–17:00 (daily during the period)
  • Restaurant: Restaurant Lounge ZEZE. Lunch 11:30–14:00, dinner 17:00–22:00 (L.O. 21:30) *Opening days and hours are subject to change. Please confirm details on site.
  • Sports room: 24 hours (free)
  • Owners-only guest room: 1 room (capacity 4) ¥5,000 per room per night *A separate linen charge applies
  • Coin laundry: washers and dryers (6 each)
  • Other shared facilities: karaoke (¥1,000/hour *extension ¥1,000/hour), mahjong (4 hours free), 11F multi-purpose hall (¥300/hour), library, mailboxes, linen and futon rental, a telephone installed in each unit (outside line only)
  • Pets: allowed (up to 30cm at the shoulder; one dog or cat per unit) Summary of the rules on bringing pets
Aspect 11

Disaster risk (hazard maps)

Flood inundation (maximum assumed scale)
No designated zone (no data in this map tile)
Tsunami inundation
No designated zone (no data in this map tile)
Landslide hazard zone
区域外

Source: MLIT Real Estate Library / GSI Hazard Map Portal

Aspect 12

Compared with other buildings in the area

BuildingBuiltUnitsAsking rangePrice / tsuboHolding-cost ratioReserve fundAssessment
Urban Hills Yuzawa Resort (this property)1990248 units¥2.0M–¥9.0M¥110K–¥427K23.4%¥88/m²Possible statistical drop
Victoria Tower Yuzawa1992393 units¥2.7M–¥23.0M¥297K–¥767K6.2%–8.7%¥59/m²Needs watching
Angel Resort Yuzawa1989130 units¥3.0M¥349K8%¥200/m²Needs watching
Silver Grace Yuzawa Building 11989108 units¥1.2M–¥6.0M¥80K–¥380K20.9%¥110/m²Possible statistical drop
Sky Resort Yuzawa1989203 units¥1.7M¥113K20.3%¥110/m²Stable
Sportsment Yuzawa 21990545 units¥1.4M–¥11.7M¥103K–¥452K11.3%–12.2%¥176/m²Needs watching
Sportsment Yuzawa I1989282 units¥1.0M–¥2.5M¥103K–¥123K19%¥140/m²Stable
Cesar Yuzawa1989134 units¥4.8M¥387K6.3%¥152/m²Needs watching
Panoramic Yuzawa1990461 units¥1.0M–¥5.5M¥104K–¥258K8.7%–8.8%¥148/m²Needs watching
Famille Villa No.2 Echigo-Yuzawa1989480 units¥1.8M–¥8.8M¥176K–¥441K4.7%–7.9%¥84/m²Needs watching
Prince Heim Yuzawa1989261 units¥1.8M–¥3.5M¥224K–¥272K15.1%¥120/m²Possible statistical drop
Plaisir Yuzawa1990313 units¥1.0M–¥3.0M¥134K–¥268K7.7%–10.1%¥47/m²Needs watching
White Plaza Yuzawa Building 11986126 units¥1.3M–¥2.5M¥122K–¥235K14.1%¥200/m²Stable
Royal Plaza Yuzawa1989254 units¥5.5M–¥6.8M¥283K–¥349K9.8%¥133/m²Possible statistical drop
Aspect 13

Google reviews: editorial summary

★ 4.8/ 8 reviews

Reviews center on the location right in front of Iwappara-Skijomae Station, on being able to soak in the hot spring while gazing at the mountain scenery from the top-floor observation large communal bath, and on being able to have a drink after the bath at the library lounge on the same floor or at the vending machine next to it. Voices also stand out citing the thorough and clean upkeep of the toilets, fitness room, large communal bath and library alike, and the fullness of the facilities such as the multipurpose hall, the summer pool, the internet work corner in the lobby, the reservation-based first-floor restaurant and the coin laundry, as well as the kindness of the staff, the caretaker and the residents. No notable complaints are pointed out. It should be noted that the count is very small at 8. *The rating is the one registered on the building's Google Place.

※Google評価4.8(8件)と口コミをもとに編集部が調査・要約(2026年7月時点)

Editorial review

The editorial team's assessment

This is an exceptionally station-close location for the Yuzawa area, about 1 minute on foot from Iwappara-Skijomae Station on the JR Joetsu Line. The shared facilities are heavy — a 24-hour hot spring communal bath, a heated pool, a restaurant, a 24-hour sports room, karaoke and a library — and the management fee is correspondingly high, so the annual holding cost ratio of the representative unit exceeds 20%. The listing price per tsubo is more than twice Mansion Review's reference index, and the low index is best read as reflecting thin transaction volume, but the price per tsubo of the four listings ranges from the ¥110,000s to the ¥420,000s, so judging by the building average should be avoided. The most recent repair history that can be confirmed is the exterior wall painting and related works of January 2002, and the repair reserve fund per square metre is also below the lower end of the MLIT benchmark, so be sure to confirm the funding plan for the next large-scale repair before purchase. Units have electric water heaters and FF-type kerosene fan heaters, and none of the four listed units has a balcony, so an outdoor air-conditioner unit cannot be installed. Outdoor parking varies with snow conditions, at 86 spaces in summer against 82 in winter.

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Aspect 14

Plain-language glossary

Price per tsubo

The price per tsubo (about 3.3㎡, the size of two tatami mats). A unit for comparing properties of different sizes.

Holding-cost ratio

Annual upkeep (management fee + reserve fund) ÷ property price. The higher it is, the heavier the burden of simply owning.

Repair reserve fund

Money saved every month for future major repairs (exterior walls, piping, etc.).

Listing concentration

What percentage of all units are up for sale. A high figure means many owners want to sell.

Market price index

A reference price auto-calculated by portal sites. It can diverge from actual asking and closing prices.

Closing price

The price at which a sale actually closed (from Japan's MLIT Real Estate Information Library). It is closer to the real market than asking prices (the seller's quote). The figures here aggregate all pre-owned condominium deals across the municipality, mixing building ages and locations.

Management fee

The day-to-day running costs for cleaning, staff, hot springs, and so on.

man-yen (万円)

"Man-yen" (万円) is a unit worth 10,000 yen. e.g. 300万円 = 3,000,000 yen.

Aspect 15

Sources & data

Reviewed by

Kazuki Miyazaki

Kazuki Miyazaki

Licensed Real Estate Transaction Specialist (takken) / Serial entrepreneur / Director, Life One Next Co., Ltd.

Licensed Real Estate Transaction Specialist in Japan (registration no. Kanagawa 129630). Runs the subsidy media Hojokin Plus and co-founded the AI startup Atlas Inc. Works in SEO/LLMO consulting and editorial supervision for real estate and housing.

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