Block Of 11 Flats
It may now be rented/sold, under offer or temporarily withdrawn from the market.
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Property Description
*A block of apartments for sale in Salvation Estate Ado Owode Ajah Lekki*
1. Price . N111 million net .
2. Title. Lagos State Government Gazette and
Deed of Assignment.
3. Description of property. An attractive investment property made up of units of flats,mini flats and room self contained for sale. The property is a two storey magnificent building on 920 square metres in a serene location and gated estate .
3. Return on investment
It generates a total annual rent of N11 million.
4. Investment analysis. At the price of N111 million and rent of N11 million the yearly return on investment is 10 percent which is unprecedented in property investment. The payback period of 10 years is also very attractive and short. Taking into consideration possible increase in rent in the next couple of years the pay back period should not exceed 8 years which is unimaginable.
5. Occupancy . The property is made up of 6 wings on 3 floors and a wing on the ground floor is vacant while the other five wings are occupied .The current rent of N1. 950,000 for the occupied wing can be verified from the Tenancy Agreements and rental schedule.
6. Conclusion. This is an exceptional and one of the most attractive real estate investments in the market as it is difficult to get a property of N111 million which will generate an annual rent of N 11million at the moment. Furthermore, the property offers great potentials for capital appreciation as the price will continue to increase based on the location which has a lot of social and economic activities.
Lekki land
Property Details
| Property Ref: 1703512 | Added On: 19 Apr 2023 | Last Updated: 11 Mar 2024 |
| Market Status: Not Available | Type: Block of Flats | Total Area: 920 sqm |
| Covered Area: 920 sqm |
Interesting Facts
Do you know that Ajah is the best option for people who want to stay on the island but don't have the financial means to live in Ikoyi or VI? If you're looking for a place to stay on the island of Lagos that won't break the bank, Ajah is the place to go.
Leisure and Shopping
Ajah caters to the needs of its residents by offering a plethora of shopping opportunities as the city grows in popularity. The neighbourhood is littered with shops, markets, malls, supermarkets, and stalls.
Popular Estates
Seaside Estate, Ocean Palm Estate, Peninsula Estate, Peaceville Estate, Royal Gardens Estate, Sunview Estate, Divine Homes, and others are notable estates.
Day Life
Fair Acres, located in Awoyaya, is a world-class park. It is a private country club that offers a variety of activities to its members, guests, families, and children. There is a kayaking lake, a world-class pool, a play area, a picnic area, a gym, a volleyball court, a restaurant, a bar, and an event venue, among other things.
Night Life
There are lounges, bars, and nightclubs all over the place. Simply choose your favourite....
Schools
Crane College, Busy Minds College, Jesilo High School, Lakefield Schools, Edidot College, Alpha Covenant Heritage School, Lakewood British School, Learning Ladder Montessori Schools, Readington School, Amber Ville School, Goldenline School, and others are among the schools that have made quality education accessible.
Read the full area guide for Ajah, Lagos.
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Disclaimer
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