Owoseni Street, Surulere, Lagos
₦120,000,000
| Property Ref: 3071740 | Added On: 03 Sep 2025 | Last Updated: 25 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 571 sqm |
FOR SALE --- INVESTMENT / DEVELOPMENT OPPORTUNITY
**VIDEO AVAILABLE**
571.3 sqm with solid building on-site Owoseni, Surulere
C of O
120M
PROPERTY OVERVIEW
- Type: Direct sale --- land with existing building (sold asis)
- Location: Owoseni, Surulere, Lagos State
- Size: 571.3 sqm
- Title: Certificate of Occupancy (C of O) --- clean title (documents available on request)
- Structure: Existing solid storey building on-site comprising miniflats and selfcontained units (sold asis). All tenants have been evacuated --- PROPERTY IS VACANT, immediate possession.
- Asking price: 120,000,000 (One Hundred & Twenty Million Naira) --- owner needs cash and is open to negotiation
- Suitable for: Investors, developers, owneroccupiers, valueadd refurbishers, serviced apartment operators, shortterm rental conversions or redevelopment (subject to planning)
KEY HIGHLIGHTS
- Prime Surulere location: Owoseni is a highdemand, wellconnected residential/commercial node in Surulere --- strong rental demand and excellent access to transport, retail, schools and commercial amenities.
- Vacant & ready for immediate handover: all tenants evacuated --- no tenancy complications for buyer.
- Clean title: C of O simplifies transaction and enables financing options.
- Flexible options for buyer: refurbish and lease for immediate cashflow; convert to serviced/student accommodation; or redevelop into higher density residential/retail mix (subject to Lagos State planning approvals).
- Motivated seller: competitive asking price and openness to negotiation for quick closings.
PROPERTY DETAILS & ASSET CONDITION
- Land area: 571.3 sqm --- regular rectangular plot (survey plan to be provided)
- Existing building: solid construction; comprises miniflats and selfcontained units. Sold asis --- buyer to commission structural/building condition survey.
- Occupancy: Vacant (all tenants evacuated). Immediate access for inspection upon appointment.
- Utilities: mains electricity and water available in the area (buyer to confirm current service connections & capacity).
- Access: good internal road access within Surulere; close to public transport nodes and major arterials.
POTENTIAL USE CASES (subject to planning)
- Valueadd refurbishment: quick cosmetic/MEP upgrades and immediate leasing to maximize rental yield.
- Serviced apartments / shortlet units: ideal for corporate housing given Surulere demand.
- Redevelopment: replace existing structure with modern multistorey residential block, mixed retail/residential, or higher density apartments (requires approvals).
- Institutional / commercial conversion: offices, clinics, or educational/hostel uses subject to local zoning.
INVESTOR & DEVELOPER APPEAL
- Attractive entry price for Surulere central location with 571.3 sqm usable plot.
- Vacant status eliminates tenant relocation delays --- faster site mobilization.
- Good market for refurbished miniflats and shortterm accommodation in Surulere.
- Potential for improved capital gains after upgrade or redevelopment.
- Certified copy of Certificate of Occupancy (C of O) and survey/site plan
- Proof of owner identity and chain of ownership; search for encumbrances/charges
- Building plans/architectural drawings (if available) and Lagos State planning compliance history
- Structural/building condition survey and mechanical/electrical status (recommended)
- Utility connection records (electricity, water) and rates/tax clearance
- Evidence of tenant evacuation/possession documents (proof of vacant possession)
- Any outstanding government rates or legal encumbrances
TRANSACTION / PAYMENT NOTES
- Asking price: 120,000,000 (owner is motivated and open to negotiation for cash buyers)
- Preferred: Quick completion possible for buyer with proof of funds; escrow arrangement or solicitor-hold is recommended.
- Financing: property may be eligible for developer or commercial lending depending on buyer profile and lender requirements --- subject to title checks.
VIEWING & NEXT STEPS
- Viewings by appointment only. Qualified buyers or their legal representatives will be required to provide proof of funds/ID before detailed documents and onsite inspections are released.
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
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Ref: Empire
