Karimu Laka, Egbeda, Alimosho, Lagos
₦160,000,000
| Property Ref: 3173792 | Added On: 28 Oct 2025 | Last Updated: 06 Nov 2025 |
| Market Status: Available | Type: Land | Total Area: 725 sqm |
FOR SALE- WATCH VIDEO ABOVE
Prime 725.205 sqm Land with Multiple Residential Units ---
Akinyoola Street (Off KarimuLaka), Egbeda, Lagos
Price: 160,000,000 (One Hundred and Sixty Million Naira)
Summary
Vacant position on a generous 725.205 sqm freehold parcel in a quiet interlocking street at 5 Akinyoola Street (off KarimuLaka Street), Egbeda. The property includes two (2) completed 3bedroom flats, a 3bedroom bungalow at the rear, and an almostcompleted 5bedroom duplex --- all sited on the same plot. Approved building plans and full title documentation are available: Registered Conveyance, C of O receipt and survey. Excellent for developers, investors or families seeking immediate rental income plus further value from completion of the duplex.
Property Highlights
- Land size: 725.205 square metres (full plot)
- Built assets on site:
- 2 units of 3bedroom flats (completed)
- 1 x 3bedroom bungalow (rear)
- 1 x 5bedroom duplex (near completion)
- Position: Vacant position (possession available) on an interlocking street --- good frontage and access
- Title & approvals: Registered Conveyance, C of O receipt & survey, freehold status and approved building plan
- Asking price: 160,000,000
Detailed Description
This substantial freehold plot presents a rare combination of immediate rental income and development upside. The two completed 3bedroom flats and the rear 3bedroom bungalow are ready for occupation or letting, providing instant cash flow. The 5bedroom duplex is nearing completion --- offering a quick scope for finishing works and additional rental/sales value.
The property sits within a welllaid interlocking street, offering a neat, lowmaintenance compound environment and good vehicular access. Approved building plans are in place, simplifying any further development or regularisation steps. This is a strategic purchase for investors seeking scale in Egbeda, owneroccupiers wanting a large compound with multiple accommodation options, or developers looking for a finished site with minimal preworks.
Location & Accessibility
- Address: 5 Akinyoola Street, off KarimuLaka Street, Egbeda, Lagos
- Situated in a residential neighbourhood with good road network links to major Egbeda corridors and Lagos mainland routes
- Close to local amenities including markets, schools, places of worship, public transport nodes and retail outlets
- Interlocking street provides improved access and low dust/erosion compared to untarred roads
Title, Approvals & Documentation
- Title: Registered Conveyance and Certificate of Occupancy (C of O) receipt with survey plan --- freehold tenure
- Planning: Approved building plan available for the existing structures and proposed works
- All documents will be made available for inspection by serious buyers, solicitors or appointed agents for due diligence
Investment & Value Proposition
- Immediate income: completed flats and bungalow can be let out immediately to generate cash flow
- Nearterm upside: completing the 5bedroom duplex will increase total asset value significantly with modest finishing capital required
- Development flexibility: approved plans and sizeable plot allow for reconfiguration, additional units, or conversion to higher density use (subject to approvals)
- Freehold title and approved plans reduce legal friction and speed up transfer/regularisation
What's Included
- The land parcel (725.205 sqm) with the stated built units and approved building plans
- All relevant title documents (Registered Conveyance, C of O receipt, survey plan) to be provided for buyer verification
Recommended Next Steps (For Interested Buyers)
- Arrange a private inspection to confirm current condition of the completed units and the status of the duplex works
- Request copies of the Registered Conveyance, C of O receipt, survey and approved building plan for legal review
- Obtain cost estimates to complete the 5bedroom duplex (if buyer will finish works) and review current rental income (if tenanted)
- Engage a legal adviser to perform title verification and advise on any required regularisation before transfer
Viewing & Contact
Serious buyers, investors and accredited agents are invited to schedule a site inspection and document review. Please provide your preferred contact details and availability to arrange a private viewing.
Note
All information provided is in good faith. Prospective buyers are advised to perform full legal, technical and physical due diligence (including inspection of structural works, utilities, and title verification) prior to purchase.
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
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We conduct due diligence and arrange site visits.
Viewings are by appointments only
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