Abaranje, Ikotun, Lagos
₦270,000,000
| Property Ref: 3228784 | Added On: 29 Nov 2025 | Last Updated: 14 Dec 2025 |
| Market Status: Available | Type: Land | Total Area: 1,338 sqm |
FOR SALE --- WATCH VIDEO ABOVE
PRIME CORNER DEVELOPMENT SITE WITH 35 FLATS & 7 SHOPS (ABARANJE)
Price: 260,000,000
Property Overview
- Rare corner parcel comprising TWO ADJOINING PLOTS (combined size: 120ft x 120ft) located on a TARRED ROAD in Abaranje --- high visibility and easy vehicular access.
- Existing improvements: a multi-unit block totaling 35 residential flats and 7 road-facing shops.
- Clean documents: Registered Survey Plan and Payment Receipt. Owner available for quick transaction.
Current Unit Breakdown
- 3 units --- 2-bedroom flats
- 8 units --- mini-flats
- 24 units --- room & self-contained (single-room units)
- 7 shops --- road facing (commercial frontage with direct exposure)
Why This Asset Stands Out
- Corner location on a tarred road = premium visibility for retail tenants and easy ingress/egress for residents.
- Large scale, turnkey income stream: 35 residential units + 7 shops provide immediate rental revenue or cash-flow upside after minor renovations.
- Flexible redevelopment potential: ideal site for a hotel, clinic/hospital, student housing, gated residential estate or mixed-use development (subject to planning approvals).
- Two contiguous plots provide redevelopment scale rarely available in the area --- excellent for vertical development or phased projects.
- Titles in order (Registered Survey & Receipt) enable quicker due diligence and transaction processing.
Investment Highlights (Conservative)
- Multi-tenancy diversification reduces vacancy risk.
- Value-add opportunity: refurbishment/convertible layouts can significantly increase rental income and asset value.
- Strong demand corridor for housing and commercial services in Abaranje --- suitable for institutional or private investors.
Key Facts at a Glance
- Location: Abaranje (on tarred road)
- Land Size: Two plots combined --- 120ft x 120ft
- Existing Units: 35 flats + 7 shops (see unit breakdown above)
- Price: 270,000,000 (Asking) 260,000,000 (Net)
- Documents: Registered Survey Plan & Receipt
- Availability: Owner alive and ready --- fast sale possible
Ideal Buyer Profile
- Property investors seeking immediate cashflow and value-add opportunities
- Developers looking for a corner site with scale for residential or commercial redevelopment
- Operators interested in launching a mid-size hotel, medical facility, or student housing project
Next Steps / Viewing
Serious buyers only. Site inspections and document review by appointment. Pre-qualified offers and cash-ready buyers will be prioritized.
Note: All information provided is accurate to the best of the seller's knowledge. Buyers are advised to carry out independent due diligence.
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