Gangdong-gu Amsa-dong 2.1 Billion KRW Corner Building Transaction Analysis: Per Pyeong Price at 'Distressed Sale' Level, Hidden Investment Value? (ft. Godeok Business Valley, Commercial-Residential Building, Real Estate Investment)
A 5-story corner building located in Amsa-dong, Gangdong-gu, was transacted for 2.13 billion KRW, attracting investors' attention. It is evaluated as an attractive investment opportunity due to its 'distressed sale' level per pyeong price in the late 20 million KRW range, which is rare in Seoul. Although it is somewhat far from the subway station, the development potential of Godeok Business Valley and the high usability as a commercial-residential building offer sufficient investment value.
Gangdong-gu Amsa-dong 5-Story Corner Building, 2.1 Billion KRW 'Distressed Sale' Transaction Information
In March 2025, the building at 477-29 Amsa-dong, Gangdong-gu, was sold for 2.13 billion KRW. This building, consisting of a total of 5 floors from basement 1st floor to ground 4th floor, has a land area of 77.41 pyeong and a building area of 208.52 pyeong. It was completed in 1996 and, although somewhat distant from Myeongil Station, it boasts excellent visibility due to its corner location.
- Location: 477-29 Amsa-dong, Gangdong-gu
- Sale Price: 2.13 Billion KRW
- Land Area: 77.41 pyeong
- Building Area: 208.52 pyeong
- Completion Year: 1996.10.21
- Zoning Area: Zone 2 General Residential Area
Late 20 Million KRW Per Pyeong Price, 'Distressed Sale' Appeal
The biggest appeal of this building is its low price of 27.52 million KRW per pyeong. This is a very low level compared to other areas in Seoul, sufficient to attract investors' attention. It showed a stable investment return, recording a capital gain of 430 million KRW over 8 years.
- Per Pyeong Price 'Distressed Sale' Level: 27.52 Million KRW
- Capital Gain Over 8 Years: 430 Million KRW
- Annual Profit: 53.75 Million KRW
- Monthly Profit: 4.48 Million KRW
Godeok Business Valley Development Potential, Expectation of Future Value Increase
Amsa-dong is expected to see an increase in jobs and residential demand in the future due to the development of Godeok Business Valley. The fact that apartment prices in Godeok New Town are rising is also expected to have a positive impact on the Amsa-dong real estate market.
Furthermore, although this building is located within a residential area limiting commercial expansion, it has the advantage of allowing for both residence and monthly rent income when used as a commercial-residential building.
- Godeok Business Valley Development: Increase in jobs and residential demand
- Rising Godeok New Town Apartment Prices: Positive impact on surrounding real estate market
- Utilization as Commercial-Residential Building: Secure both residence and monthly rent income simultaneously
Considerations and Utilization Strategies for Investment
While this building has attractive investment factors such as a low price and development potential, the following aspects should be considered:
- Distance from Subway Station: There is a disadvantage of being somewhat far
- Location within Residential Area: Limited commercial expansion
- Building Aging: Consider the need for remodeling
However, considering the future value increase due to Godeok Business Valley development and the potential for utilization as a commercial-residential building, it is a sufficiently attractive investment target.
Conclusion
The corner building in Amsa-dong, Gangdong-gu, is an attractive investment target with high investment value based on its low price and development potential. However, a cautious investment decision must be made considering factors such as the distance from the subway station and limitations on commercial expansion.
The building at 477-29 Amsa-dong, Gangdong-gu, was sold in March 2025.
※ Transaction Details
- Location: 477-29 Amsa-dong, Gangdong-gu
- Subway Station: Myeongil Station
- Transaction Date: March 2025
- Sale Price: 2.13 Billion KRW
- Land Price (Per Pyeong): 27.52 Million KRW
- Land Area: 77.41 pyeong (255.9㎡)
- Building Area: 208.52 pyeong (689.31㎡)
- Zoning Area: Zone 2 General Residential Area
- Floors: B1 ~ 4F
- Road Condition: 6m*4m corner
- Completion Year: 1996.10.21
- Official Land Price (Gongsi Jiga): Approx. 14.14 Million KRW
- Land Price vs. Official Land Price Ratio: Approx. 1.95 times
※ Past Transaction Details
- 1. Sale in Sep '17 for 1.7 Billion KRW (22.08 Million KRW per pyeong)
- 2. Sale in Mar '25 for 2.13 Billion KRW (27.52 Million KRW per pyeong) (Held for approx. 8 years)
- 3. 430 Million KRW Capital Gain over 8 years
- 53.75 Million KRW Annual Capital Gain
- 4.48 Million KRW Monthly Profit (Analyzing only simple capital gain)