Block Of 2 Units Of 4 Bedroom Flats + 2 Units Of 2 Bedroom Bq On Offer

Listing Title:
Outright Sale --- Block: 2 x 4‑Bedroom Flats + 2 x 2‑Bedroom Boys' Quarters on 580 sqm --- Oduwobi St, Ilupeju ₦350,000,000

Overview:
Opportunity for an immediate income-producing asset or owner-occupier redevelopment in a pleasant Ilupeju neighbourhood. This two‑storey building sits on a 580 sqm parcel on Oduwobi Street and comprises two (2) spacious 4‑bedroom flats plus two (2) 2‑bedroom boys' quarters. Offered for outright sale with Letter of Administration and supporting documents available, this property suits investors seeking rental income or buyers looking to reposition the site for higher value use.

Key Details

- Property type: Two‑storey residential building on free land
- Accommodation:
- 2 × 4‑bedroom flats (main building)
- 2 × 2‑bedroom boys' quarters (separate)
- Plot size: 580 sqm
- Location: Oduwobi Street, Ilupeju --- pleasant/residential neighbourhood
- Title / Documentation: Letter of Administration (plus other relevant documents)
- Asking price: ₦350,000,000 (three hundred and fifty million naira) --- asking
- Sale type: Outright sale
- Availability: Immediate (subject to viewing and verification)

Property Condition & Features (as supplied)

- Two‑storey block providing multiple self‑contained rental units
- Separate boys' quarters (2‑bedroom each) suitable for staff accommodation or additional rental income
- Generous plot size (580 sqm) allowing for parking, landscaping or potential future extension/redevelopment
- Compound space for vehicle parking and external utility areas
- Located in a well‑regarded Ilupeju neighbourhood with residential character (confirm neighbourhood specifics during viewing)

Investment & Use Cases

- Ready rental estate: immediate rental income from multiple units for investors
- Owner‑occupier: live in one unit and rent out the rest to subsidise mortgage/holding costs
- Redevelopment potential: site suitable for higher density residential redevelopment (subject to planning/regulatory approvals)
- Portfolio addition: strategic acquisition for landlords seeking assets in accessible Lagos suburbs

Title, Documents & Legal Considerations

- Title / Status: Sale by executors/administrator --- offered with Letter of Administration and other relevant documents
- Prospective buyers must verify title, chain of ownership and any probate/estate conditions
- Seller will provide available documentation (Letter of Administration, building plans, receipts) on proof of seriousness
- Buyers are strongly advised to instruct legal counsel to conduct thorough due diligence (title search, verification at land registry, confirmation of planning/building approvals and any outstanding rates/levies)

Due Diligence & Technical Recommendations

- Physical inspection and unit-by-unit inventory/condition survey
- Verify Letter of Administration authenticity and confirm executor authority to sell
- Title search and confirmation of any encumbrances or outstanding obligations
- Confirm building approvals, occupancy certificate (if any), and utility connections
- Consider structural/technical inspection if planning to redevelop or refinance

Price, Terms & Additional Costs

- Asking price: ₦350,000,000
- Price negotiable for serious buyers depending on terms and proof of funds
- Buyer to bear customary acquisition costs: legal fees, stamp duty, transfer costs and any agency fees unless otherwise agreed
- Payment terms to be agreed with seller; proof of funds/seriousness required to access full documentation

Viewing & Next Steps

- Site inspections and document review strictly by appointment for serious/qualified buyers
- Photos and available supporting documents can be provided to verified prospects
- Recommended next steps: request documents (Letter of Administration, survey/plan), schedule an accompanied inspection, and instruct legal/title search

Ref: Daka