Newly Completed Block of 10 Apartments

For sale !!! Type: Newly completed block of 10 apartments ​Location: Prof. K.A Street, Lekki Phase 1, Lagos ​Land Size: Approx. 940 sqm ​Composition: 8 units of 2-bedroom apartments & 2 units of 3-bedroom apartments ​Title: C of O ​Asking Price: ₦2,000,000,000 (₦2 Billion) ​rental & yield analysis ​At the asking price of ₦2 billion, this development presents an exceptional income-generating opportunity aligned with current Lekki Phase 1 rental figures. With 2-bedroom units commanding between ₦15 Million and ₦20 Million annually, the 8 units generate ₦120 million to ₦160 million per year. The 2 units of 3-bedroom apartments---renting between ₦15 Million and ₦25 million each---contribute an additional ₦30 million to ₦50 million annually. ​Combined, the building delivers a projected gross annual rental income of ₦150 million to ₦210 million, with a mid-point expected income of ₦180 million per annum. ​This represents a strong Gross Rental Yield of 7.5% to 10.5% per year (averaging 9.0%), establishing an estimated capital payback period of approximately 9.5 to 13.3 years through conventional residential leases Investment returns can be further optimized by converting select units into executive short-let apartments, which typically yields a 30% to 50% revenue boost over long-term leases in this location