Ajewole Street Off Governor's Road, Ikotun, Lagos
₦65,000,000
| Property Ref: 3199341 | Added On: 12 Nov 2025 | Last Updated: 12 Nov 2025 |
| Market Status: Available | Type: House | Bedrooms: 7 |
| Bathrooms: 5 | Toilets: 6 | Total Area: 588 sqm |
Property for Sale --- Ajewole Street (Off Governor Road), Ikotun, Lagos
Property type: Old structure building with multiple rooms --- redevelopment / investment opportunityLocation: Ajewole Street, Governor Road axis, Ikotun, Lagos --- well positioned within a highdemand residential/commercial corridorTitle / Documents: Family Receipt and Survey Plan availableAsking price: 65,000,000 (Asking)Net price: 60,000,000 (Net)
Property summary
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A roadfacing, older building comprising multiple rooms located on Ajewole Street close to Governor Road, Ikotun. Offered as a distress sale, this property presents a value opportunity for investors or developers prepared to renovate, refurbish or redevelop. The site's strategic location and existing structure make it suitable for rental accommodation, hostel/boarding house, smallscale residential redevelopment or commercial conversion, subject to planning approvals.
Key selling points
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- Distress sale --- motivated vendor; competitively priced for quick disposal.
- Good location with strong pedestrian and vehicular visibility along the Governor Road / Ikotun corridor.
- Multiple rooms providing immediate rental income potential with minimal refurbishment.
- Survey Plan available to aid verification and development planning.
- Flexible enduse: keep as income property, upgrade to modern rental units, or redevelop to higher density (subject to approvals).
Current condition & development potential
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- Existing structure is aged and will likely require renovation or possible demolition depending on the buyer's objectives. Exact condition, room count and internal layout to be confirmed on inspection.
- Suitable redevelopment options: boarding/hostel, cluster of selfcontained flats, small guesthouse, or mixed residential/commercial use.
- Buyers seeking development should commission a site survey and obtain local planning guidance for permitted densities and setbacks.
Title & legal considerations
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- Documents on hand: Family Receipt and Survey Plan.
- Important note: Family receipt titles can require formal regularisation (C of O or Deed of Assignment) and confirmation of vendor authority. Prospective buyers must undertake full due diligence, including title verification, vendor identity checks, boundary confirmation and, where necessary, formalisation of title with relevant land authorities. The agent can introduce solicitors and surveyors for this process.
Location & accessibility
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- Convenient access to Governor Road and surrounding Ikotun commercial nodes.
- Close to public transport routes, retail amenities, schools and community services --- enhancing rental and redevelopment appeal.
- Good road frontage improves visibility for commercial conversion and tenant attraction.
Investment highlights
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- Priced for quick sale --- potential for capital uplift postrefurbishment or redevelopment.
- Immediate cashflow option: renovate and let rooms to secure shortterm returns while processing any regularisation/permits for longterm development.
- Attractive for owneroccupiers seeking rental support or investors targeting affordable housing demand in the Ikotun area.
Sale terms & viewings
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- Asking price: 65,000,000 --- Net price: 60,000,000 (motivated vendor).
- Viewings strictly by appointment only; interested parties to provide valid ID and proof of funds prior to site inspection.
- Reservation deposit and formal sale terms to be agreed upon offer acceptance. Buyers are advised to engage legal counsel early to manage title regularisation and transfer.
What we can provide on request
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- Certified copy of the Survey Plan and the Family Receipt (subject to vendor consent).
- Recent site photographs and preliminary site layout (if available).
- Introduction to surveyors, solicitors and town planning consultants for due diligence and development advice.
- Indicative renovation or redevelopment feasibility commentary upon provision of buyer requirements.
Contact
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To request documents, schedule a viewing or discuss acquisition strategy, contact:
[Agent name]Phone: [Insert phone number]Email: [Insert email address]
Disclaimer: Information provided by the vendor and subject to verification. Prospective purchasers must carry out independent due diligence, title checks and legal verification prior to commitment.
