Transaction of a ₩3.8 Billion Motel Building in Dongdaemun-gu Cheongnyangni Station Area! GTX & Dongbuk Line Boost, Investment Value UP
A motel building located in Jegidong, Dongdaemun-gu, Seoul, a key transportation hub of South Korea and in the Cheongnyangni Station area where large-scale development is planned, has been traded for ₩3.8 billion, attracting significant attention from real estate investors. It is considered a promising investment area where high capital gains can be expected, with the expansion of wide-area transportation networks such as GTX and Dongbuk Line, as well as active redevelopment projects in the surrounding areas. In particular, this transaction is drawing more attention as the demand for lodging facilities is steadily increasing, and legal Airbnb operation is also possible.
In this article, we will analyze the detailed transaction history of the motel building near Cheongnyangni Station in Jegidong, Dongdaemun-gu, and delve deeply into why the Cheongnyangni Station area is emerging as a promising investment area and the investment value of a lodging facility building. Furthermore, we will closely examine transportation boosts such as the opening of GTX and Dongbuk Line and the progress of surrounding redevelopment projects, and analyze the investment appeal of this building from various angles, considering the possibility of Airbnb operation.
₩3.8 Billion Motel Building in Jegidong, Dongdaemun-gu, Detailed Transaction Analysis
The building that was recently sold is located at 443 Jegidong, Dongdaemun-gu, and is situated in a prime location very close to Cheongnyangni Station on the subway. It was traded for ₩3.8 billion in March 2025, and the land price was assessed at ₩5.443 billion.
- Location: 443 Jegidong, Dongdaemun-gu
- Subway Station: Cheongnyangni Station
- Transaction Date: March 2025
- Sale Price: ₩3.8 billion
- Land Price per Pyeong: ₩54.43 million
- Land Area: 69.82 pyeong (230.8㎡)
- Building Area: 271.02 pyeong (895.95㎡)
- Zoning: General Commercial Zone
- Floors: Basement 1st Floor ~ Ground 6th Floor
- Road Condition: 4m*4m corner
- Completion Year: July 6, 1989
- Publicly Assessed Value: Approx. ₩21.3 million
- Publicly Assessed Value Ratio to Land Price: Approx. 2.56 times
Cheongnyangni Station Area Redevelopment Boost: Amplified Expectations for Future Value Increase
The Cheongnyangni Station area where this building is located is currently undergoing large-scale redevelopment projects. Redevelopment projects are underway in various areas such as Jegi District 4, Jegi District 6, and Cheongnyangni District 8, and major development projects such as the Mijoo Apartment reconstruction and the Shintong Plan in the area of 19 Cheongnyangni-dong are planned. These development boosts are expected to act as powerful drivers for increasing real estate value in the Cheongnyangni Station area.
GTX and Dongbuk Line, etc. Transportation Boosts: Significant Improvement in Accessibility to All of Seoul
Cheongnyangni Station is already a key transportation hub with various lines passing through, including Subway Line 1, Gyeongui-Jungang Line, and Bundang Line. With the planned opening of GTX-B Line and Dongbuk Line in the future, accessibility to all of Seoul is expected to improve further. This transportation network expansion will be a key factor in further increasing the real estate value of the Cheongnyangni Station area.
Increased Demand for Lodging Facility Buildings: Cash Generation and Airbnb Operation Potential
The Cheongnyangni Station area is experiencing a steady increase in demand for lodging facilities due to redevelopment and transportation boosts. Along with the increase in floating population due to the opening of GTX and Dongbuk Line, legal Airbnb operation is also possible in the General Commercial Zone where this building is located, providing the advantage of generating stable cash flow. This is an attractive factor that can maximize investment returns.
Conclusion: Cheongnyangni Station Area Motel Building, The Best Investment Property with Redevelopment and Transportation Boosts
This ₩3.8 billion motel building located in the prime Cheongnyangni Station area of Jegidong, Dongdaemun-gu, Seoul, is a very attractive investment property with excellent location conditions, abundant development prospects, and potential for stable profit generation. The strong transportation boosts such as the opening of GTX and Dongbuk Line and the progress of surrounding redevelopment projects make the future value of this building even brighter. If you are interested in real estate investment in the northeastern part of Seoul, paying attention to this building in the Cheongnyangni Station area could be a wise choice.
The building at 443 Jegidong, Dongdaemun-gu, was sold in March 2025.
※ Transaction Details
- Location: 443 Jegidong, Dongdaemun-gu
- Subway Station: Cheongnyangni Station
- Transaction Date: March 2025
- Sale Price: ₩3.8 billion
- Land Price per Pyeong: ₩54.43 million
- Land Area: 69.82 pyeong (230.8㎡)
- Building Area: 271.02 pyeong (895.95㎡)
- Zoning: General Commercial Zone
- Floors: Basement 1st Floor ~ Ground 6th Floor
- Road Condition: 4m*4m corner
- Completion Year: July 6, 1989
- Publicly Assessed Value: Approx. ₩21.3 million
- Publicly Assessed Value Ratio to Land Price: Approx. 2.56 times
※ Past Transaction Details
- 1. December 2014: Sold for ₩2.5 billion (₩35.71 million per pyeong)
- 2. March 2025: Sold for ₩3.8 billion (₩54.43 million per pyeong) (Held for approx. 11 years)
- 3. Gain from sale of ₩1.3 billion over 11 years,
- Annual gain from sale of ₩118.18 million,
- Monthly gain of ₩9.85 million
- (Only analyzes simple gain from sale)
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