A Strategically Located 2 X 5 Bedroom Semi-detached Property In Apapa
It may now be rented/sold, under offer or temporarily withdrawn from the market.
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Property Description
A strategically located 2 x 5 Bedroom Semi-Detached properties on land measuring 789 sqm
LOCATION: Rhodes Crescent, off Whard Road, Apapa Lagos.
PRICE: #130M Negotiable (Buy and leaseback for N6m annual rent available)
TITLE : C of O
PROPERTY ON SITE: The Site comprises of 2 x 5 bedroom Semi-Detached Houses in which one wing is being used as officers while the second wing is residential with a Gate house.
The roof is mono-pitched with corrugate roofing sheet cladding. Windows are of glass with steel casing protected with metal grilles against burglary. The doors have a wood finish with tiled floors throughout. New blinds have been installed through most of the property.
AREA: The site covers a measured area of 789 Square meters, fenced round with block wall and painted. Access to both units is via separate double leaf metal gate. Adequate security is available around the area.
SERVICE: Main electricity is connected to both properties with decent power supply and 2 bore holes supply 1000 litre tanks that supply water to each property.
LOCATION: The subject property situates at No 5&7 Rhodes Crescent, Off Itapeju Street, Apapa in Apapa LGA of Lagos state. The property is off Wharf Road, the right turn before Eleganza and Heritage Bank.
Notable landmarks within the area include: Conoil fuel station, Sterling Bank, Heritage Bank, GTB, Zenith Bank and Eleganza amongst others.
RENT PER ANNUM: The residential property is at least 200 sqm smaller than office building and is rented for N2.5m per annum. The office building has an agreed rental of N3.5m per annum giving a total rental income of N6m per annum. Rental yield is 5% per annum, the highest in Lagos.
PRICE: N130,000,000 Negotiable, no time wasters please. Buy the property and leaseback to current tenants that are willing to pay N6m rent per annum. The first 2 years rent can be deducted from the agreed purchase price if this option is chosen as tenants have agreed to pay the rent.
RECENTLY REDUCED: N200,000,000 now available for N130,000,000
Property Details
| Property Ref: 217292 | Added On: 12 Jan 2018 | Last Updated: 26 Sep 2019 |
| Market Status: Not Available | Type: Office Space | Total Area: 789 sqm |
Interesting Facts
It handles a variety of commodities such as wheat, oil, cement, and fish amongst other things. In 1907, an important bronze hoard of jewellery was discovered near Apapa.
Leisure and Shopping
Apapa Mall is one of the largest shopping malls in Lagos. It has a variety of stores and cafes ranging from the well-known PEP store to cash 'n' carry that offers basic amenities such as clothes, electrical gadgets, washing machines, and even complete musical instruments.
Popular Estates
If you want to live in Lagos' Apapa estates, there are lots of lovely options for you. The Pinnacle Court estate is one of the many estates that are available for purchase. Another excellent option is Point Road estate, which is located at Apapa Quays.
Day Life
Apapa is a major hub for businesses and terminals in Abu Dhabi. The city has a number of lovely spots to relax and have fun. Hot Fun Cafe, Tantalizers, Kobis, Domino's, Arewa African Cuisine, and other establishments are included.
Night Life
At night, the Pub Restaurant and bar transforms into a lively nightclub with live music and dancing. The pub is a relatively safe place to visit at any time of day or night because it is equipped with adequate parking space and safety measures such as fire extinguishers.
Schools
There are a large number of excellent schools in Apapa, Lagos. Some of the standard schools include Sacred Heart College, Corona School, Parkwood British School, Redeemer's International School, Priscillia School, Apapa Senior High School, and Prince Charles International Schools.
Read the full area guide for Apapa, Lagos.
Disclaimer
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