Yeontral Park Mirogil 4.48 Billion Won Small Building Transaction Completed! Double Profit in 10 Years, Remodeling Investment Success Story
Yeontral Park Mirogil 4.48 Billion Won Small Building Transaction Completed! Double Profit in 10 Years, Remodeling Investment Success Story
A small building located on Mirogil near Yeontral Park, close to Hongdae Station in Yeonnam-dong, Mapo-gu, Seoul, was transacted for 4.48 billion Won. This building, which was traded for 2.2 billion Won 10 years ago, has more than doubled in value. As if discovering a hidden treasure, we will analyze the transaction details of this Yeonnam-dong small building and examine it as a successful case of remodeling investment.
Yeontral Park 4.48 Billion Won Small Building, Double Profit in 10 Years
In February 2025, a small building located at 387-19 Yeonnam-dong, Mapo-gu, was sold for 4.48 billion Won. This building, situated on Mirogil near Yeontral Park, close to Hongdae Station, has a scale of B1F to 4F and was completed in December 1994.
Transaction Information:
- Location: 387-19 Yeonnam-dong, Mapo-gu
- Subway Station: Hongdae Station
- Transaction Date: February 2025
- Sale Price: 4.48 billion Won
- Land Area: 56.27 pyeong (186㎡)
- Zoning District: Second Class General Residential Zone
- Floors: B1F ~ 4F
- Road Condition: 4m
- Year of Completion: December 20, 1994
Transaction Details:
- December 2015: 2.22 billion Won sale
- February 2025: 4.48 billion Won sale
Yeonnam-dong, Harmony of Trendy Commercial Area and Unique Atmosphere
Yeonnam-dong is located near Hongdae Station, offering good accessibility, and a trendy commercial area has formed around Yeontral Park. Additionally, it is popular among the younger generation with unique cafes, restaurants, and workshops. Recently, as many foreign tourists visit, interest in small building investment has further increased.
Regional Characteristics:
- Proximity to Hongdae Station, excellent accessibility
- Formation of a trendy commercial area centered on Yeontral Park
- Creation of unique cultural spaces
- Increase in foreign tourists
Remodeling Investment, Key to Small Building Value Increase
The notable point in this transaction is that it generated more than double the profit in 10 years. This can be seen as a result of identifying the building's potential and increasing its value through remodeling investment. The strategy of purchasing an older building and increasing rental income or raising the building's value through remodeling is an effective method in small building investment.
Investment Points:
- Increase building value through remodeling
- Increase rental income
- Investment aligned with changes in the trendy commercial area
Yeonnam-dong Small Building Investment Requires Careful Approach
While Yeonnam-dong small building investment has many attractive aspects, a cautious approach is necessary during investment. Rents are rising in Yeonnam-dong due to gentrification, and rental demand may fluctuate according to changes in the surrounding commercial area. Furthermore, various factors such as building age and remodeling costs must be considered.
Points to Consider for Investment:
- Rent increase due to gentrification
- Volatility of rental demand based on commercial area changes
- Building age and remodeling costs
- Vacancy rate and rental income analysis
For Yeonnam-dong Small Building Investment, Expert Assistance is Important
Investing in small buildings requires more specialized knowledge and experience than general real estate investment. It is important to seek assistance from a real estate expert to plan your investment and minimize investment risks.
Detailed Transaction Analysis
Let's examine the specific transaction details of the building at 387-19 Yeonnam-dong.
※ Transaction Details
- Location: 387-19 Yeonnam-dong, Mapo-gu
- Subway Station: Hongdae Station
- Transaction Date: February 2025
- Sale Price: 4.48 billion Won
- Land Price (Per Pyeong): 79.62 million Won
- Land Area: 56.27 pyeong (186㎡)
- Building Area (Total Floor Area): 133.44 pyeong (441.12㎡)
- Zoning District: Second Class General Residential Zone
- Floors: B1F ~ 4F
- Road Condition: 4m
- Year of Completion: December 20, 1994
- Official Standard Land Price (공시지가): Approx. 29.45 million Won (Per Pyeong)
- Land Price Relative to Official Standard Price: Approx. 2.70 times (Shows that the actual transaction price was higher than the official standard price.)
※ Past Transaction History
- December 2015: 2.22 billion Won sale (39.64 million Won per pyeong)
- February 2025: 4.48 billion Won sale (79.62 million Won per pyeong) (Held for approx. 10 years)
- 10 years: 2.26 billion Won capital gain
- Annual: 226 million Won capital gain
- Monthly: 18.83 million Won profit (Simple capital gain analysis only)
This transaction is a case where a small building with a land area of approximately 56 pyeong and a total floor area of 133 pyeong (B1F to 4F) was transacted for 4.48 billion Won, at 79.62 million Won per pyeong. It boasts a prime location in the Hongdae Station area near Yeontral Park Mirogil and is situated in a Second Class General Residential Zone. Completed in 1994, its age is suitable for value enhancement through remodeling. The fact that the price more than doubled in 10 years compared to the 2015 transaction is impressive.
Conclusion: Yeonnam-dong Small Building, Value Created by Change and Remodeling
The case study of the 4.48 billion Won small building in Yeonnam-dong's Yeontral Park Mirogil clearly demonstrates the explosive growth of the Yeonnam-dong area and the potential for success in value creation strategies through remodeling investment. In addition to its prime location in the Hongdae Station area near Yeontral Park Mirogil, remodeling the older building to increase its rental value and overall building value is analyzed as the key secret to achieving more than double the profit in 10 years.
Investing in Yeonnam-dong small buildings is an attractive option, offering potential for stable rental income based on high foot traffic and the vitality of the changing commercial area, along with the expectation of significant asset value appreciation. However, thorough analysis of potential gentrification, changes in commercial trends, and remodeling costs and plans is essential. We hope you can seize successful Yeonnam-dong small building investment opportunities through careful analysis and expert advice.