Block of flats for sale
Two Residential Buildings on 945SQM 15 Units Shops.
Income generating property for sale in muniru estate, ogombo Ajah Price: ₦250,000,000 for Both Buildings Land Size: 945sqm Property Type: Block of Flats / Mixed-Use Investment Property Looking for an investment property in Lagos with multiple residential units and the potential to generate rental income from different tenant categories? Here is an opportunity to acquire two residential buildings sitting on a combined land area of 945sqm in Victory Estate, Ogombo, Ajah, Lagos, offered together for ₦250 million. The property comprises multiple self-contained rooms, one-, two- and three-bedroom apartments, additional room-and-parlour units, shops and supporting facilities. This makes it worth considering for investors looking to build a residential rental portfolio while retaining additional commercial income potential. Property Breakdown Building 1 --- ₦150 million - Land size: 610sqm - 7 room self-contained units - 2 one-bedroom apartments - 1 two-bedroom apartment - 1 three-bedroom apartment - Shops - Small mosque - Guest/security house building 2 --- ₦100 million - Land size: 315sqm - 4 room-and-parlour self-contained units - Security guard house - Generator house both buildings together: ₦250 Million Combined land size: 945sqm. Rental income potential Based on the stated rental figures for the residential units: - Room self-contained: ₦1.5 million annually per unit - One-bedroom apartment: ₦2 million annually per unit - Two-bedroom apartment: ₦3 million annually - Three-bedroom apartment: ₦3.5 million annually - Room-and-parlour units: ₦1.1 million--₦1.3 million annually per unit The estimated residential rental income is approximately ₦25.4 million--₦26.2 million per year, assuming all 15 units are rented at these rates. That represents an indicative gross rental yield of approximately 10.2%--10.5% per year on the combined asking price of ₦250 million, before expenses and vacancies. Income from the shops is not included in this estimate. Why Consider This Property? - Multiple residential units within one investment. - Different apartment types to serve different tenant needs. - Potential rental income from residential accommodation. - Additional commercial potential from the shops. - 945sqm combined land area in Victory Estate, Ogombo, Ajah. - Opportunity to acquire both buildings in a single transaction. Location Muniru estate, Ogombo, Ajah, Lagos. Price ₦250,000,000 for both buildings. The buildings may also be considered separately at ₦150 million and ₦100 million, respectively, subject to availability and confirmation of the seller's terms. Interested in acquiring a multi-unit rental property in Lagos? Send a DM to request further details, confirm the title documents, obtain additional pictures or videos, and schedule an inspection. Sopuluchukwu David Real Estate Consultant Brit Properties