Analysis of Majang Station Ultra-Station Area 2.617 Billion Won Small Building: Attractive Location Within 1 Minute Walk (ft. Corner in Front of Crosswalk, Building Coverage Ratio Benefit, Remodeling Investment)
A small building located in Majang-dong, Seongdong-gu, directly in front of Majang Station in the ultra-station area, was transacted for 2.617 billion Won, attracting keen interest from the real estate market. As a 'heart-pounding investment', a small building located in a station area and on a corner in front of a crosswalk is enough to draw the attention of investors. What kind of appeal is hidden that it is receiving such fervent interest? Let's now delve into the hidden value of small building investment.
Majang Station 1 Minute Walk 'Ultra-Station Area', Seongdong-gu 'Core Transportation Hub'
The small building at Majang-dong 773-7 is an 'ultra-station area' building located within a 1-minute walk from Majang Station on Subway Line 5. Majang Station is a core transportation hub in Seongdong-gu, offering a convenient transportation environment that allows quick travel to anywhere in Seoul. Particularly, various bus routes operate around the station, making public transportation even more convenient. Like a 'transportation hub', convenient transportation is a key factor increasing the value of properties as residential and commercial facilities.
Key Features and Location Analysis:
- Majang Station 1 Minute Walk: Convenient public transportation
- Line 5 Station Area: Excellent accessibility to Seoul
- Transportation Hub: High investment value
Corner in Front of Crosswalk, Excellent Visibility and Accessibility
This small building is a corner building located directly in front of the crosswalk at Majang Intersection near Majang Station Exit 3. Fronting a 7-lane road, the building has excellent visibility and superior accessibility for both vehicles and pedestrians. Particularly, being in front of a crosswalk increases foot traffic, enhancing its value as a commercial facility. As a 'golden location', excellent visibility and accessibility are important factors that maximize the investment value of small buildings.
- Corner in Front of Crosswalk: Excellent visibility
- 7-Lane Main Road: Superior vehicle and pedestrian accessibility
- Golden Location: High commercial value
Building Coverage Ratio Benefit, Hidden Investment Point
This small building is a building that benefited from the building coverage ratio, with the advantage of a building area that nearly fills the land area. Although it is an aging building completed in 1985, it has a relatively large building area of 36.40 pyeong on a B1F to 3F scale, allowing for diverse uses. Like a 'hidden space', the building coverage ratio benefit is a key factor increasing building value.
- Building Coverage Ratio Benefit: Large building area
- Diverse Utilization Possibilities: Residential, commercial, etc.
- Hidden Space: Factor increasing building value
Remodeling Investment, Potential for Building Value Increase 'UP'
Although this building is aging, its value can be increased through remodeling investment based on its excellent locational conditions and large building area. By modernizing the building's exterior and interior through remodeling and adding various convenience facilities, increased rental income and building value appreciation can be expected. Like getting 'new clothes', remodeling transforms an old building into an attractive space.
- Remodeling Investment: Expected increase in building value
- Modern Design, Convenience Facilities: Advantageous for attracting tenants
- Effect of Getting 'New Clothes': Creating an attractive space
Conclusion: Majang Station Ultra-Station Area Small Building, A Stable Investment Property
This small building located in the Majang Station ultra-station area is an attractive investment property that offers excellent locational conditions, abundant hinterland demand, high utilization possibilities, and the potential for value increase through remodeling. This building, which can expect stable profits and high future value at a reasonable price, can be a good choice for those interested in investing in small buildings.
The building at Majang-dong 773-7, Seongdong-gu, was sold in February 2025.
※ Transaction Details
- Location: Seongdong-gu Majang-dong 773-7
- Subway Station: Majang Station
- Transaction Date: February 2025
- Sale Price: 2.617 billion Won
- Land Price (Per Pyeong): 146.38 million Won
- Land Area: 17.88 pyeong (59.1㎡)
- Building Area (Total Floor Area): 36.40 pyeong (120.33㎡)
- Zoning District: Third Class General Residential Zone
- Floors: 3 stories above ground
- Road Condition: 7-lane road
- Year of Completion: 1985.10.10
- Official Standard Land Price (공시지가): Approx. 19.79 million Won (Per Pyeong)
- Land Price Relative to Official Standard Price: Approx. 7.40 times