Looking for a prime property in Ikeja with excellent potential for redevelopment or renovation? This is a rare opportunity to acquire a 632sqm plot with a demolishable bungalow and a large shop in front, situated on a gated and secure street off Allen Avenue, Ikeja, Lagos.
📍 Location Highlights
- Off Allen Avenue, Ikeja, Lagos – a highly sought-after area with fast access to key parts of Ikeja and Lagos State
- Gated and secured street, ensuring privacy and peace of mind
- Surrounded by residential and commercial establishments, providing a mix of convenience and value
- Close proximity to schools, shopping centers, banks, and public transport
- Easy access to Allen Avenue, one of Ikeja’s main arteries for traffic and commerce
The property combines excellent security, accessibility, and a beautiful ambiance, making it ideal for investors, homeowners, or developers.
📐 Property Details
- Land Size: 632sqm
- Property Type: Mixed-Use Land – suitable for residential or commercial purposes
- Current Structure: 4-bedroom bungalow (demolishable or renovatable)
- Additional Features:
- Large shop in front for commercial use
- Fenced and gated property for security
- Lush garden space for landscaping or recreation
- Utilities & Facilities:
- Car parking space
- Domestic sewage
- Electric supply and gas connection
- Rainwater drainage system
- Water supply ready
Development Potential:
- Renovate the existing bungalow into a modern home
- Redevelop the property into terraces, duplexes, or a small apartment complex
- Use the shop frontage for commercial rental income
🏷 Price & Negotiation
- Asking Price: ₦550,000,000 (Outright Sale)
- Negotiation Insight: Agents indicate N500M is likely to close quickly, despite previous offers at N450M being rejected
- Title: Registered Conveyance, ensuring legal ownership and smooth transfer
🌟 Why This Property is an Excellent Investment
- Prime Location: Off Allen Avenue, Ikeja – a high-demand area for residential and commercial development
- Secure & Gated: Provides peace of mind in Lagos’ bustling real estate market
- Versatile Land Use: Perfect for residential redevelopment or mixed-use projects
- Immediate Development Potential: Vacant space with demolishable bungalow gives you a blank canvas for your dream project
- Excellent Accessibility: Quick access to Allen Avenue and other major Lagos locations
This property is ideal for developers looking for a strategic investment, families wanting a spacious home, or entrepreneurs seeking commercial frontage with residential potential.
📞 Contact Information
For inquiries, property viewing, or negotiation:
📲 Call / WhatsApp: 08034139285
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