HYERI (Girl's Day) was the owner of two buildings in Gangnam... market profit exceeds 600 million yen

It has been revealed that HYERI (Girl's Day) owns two buildings in Gangnam, which is estimated to be worth 12.1 billion won (approximately 1.21 billion yen).
According to the real estate industry on the 2nd (today), HYERI will sell an old multi-family house in Samseong-dong, Gangnam-gu, in August 2022 under the name of a family corporation for 7.75 billion won.
The house was purchased for about 775 million yen. The house is located close to Seonseongneung Station, a transfer station for subway lines 9 and Bundang Line, and Gangnam-gu Office Station on Line 7.
The two houses are adjacent to each other and are located close to three stations. After demolishing the house, HYERI will build a new building with two basement floors and six aboveground floors, and will purchase the house for 7.75 billion won plus 400 million won in transaction costs.
The total purchase cost, including 50 million won (approximately 45 million yen) and new construction costs of 2.5 billion won (approximately 250 million yen), is estimated to be 10.7 billion won (approximately 1.07 billion yen).
Kim, deputy director of a real estate agency, said, "Currently, it is possible to rent an entire new building for 400 million won (US$400,000) in deposit and 30 million won (US$30,000) in rent.
"We are currently looking for a tenant," he said, adding, "Once the building is sold, we expect to make a market profit of more than 3 billion won (US$300 million) over three years."
In addition to the building in Samseong-dong, HYERI also owns a building in Yeoksam-dong.
In December 2020, he purchased a dilapidated residential building under the name of a corporation he established for 4.39 billion won (approximately 439 million yen), and after demolishing the building, he rebuilt it.
The market price for these buildings is expected to exceed 10 billion won (approximately 1 billion yen). If these buildings are sold, the market profit is expected to be more than 3 billion won. Therefore, the purchase price of the buildings in Samseong-dong and Yeoksam-dong by HYERI is approximately
At 12.1 billion won, a minimum market profit of 6 billion won (about 600 million yen) is expected.