2 Nos Of 5 Bedroom Semi Detached House

A strategically located 2 x 5 Bedroom Semi-Detached properties on land measuring 789 sqm
LOCATION: Rhodes Crescent, off Whard Road, Apapa Lagos.
PRICE: Negotiable (Buy and leaseback for N6m annual rent available)
TITLE : C of O

PROPERTY ON SITE: The Site comprises of 2 x 5 bedroom Semi-Detached Houses in which one wing is being used as officers while the second wing is residential with a Gate house.
The roof is mono-pitched with corrugate roofing sheet cladding. Windows are of glass with steel casing protected with metal grilles against burglary. The doors have a wood finish with tiled floors throughout. New blinds have been installed through most of the property.

AREA: The site covers a measured area of 789 Square meters, fenced round with block wall and painted. Access to both units is via separate double leaf metal gate. Adequate security is available around the area.

SERVICE: Main electricity is connected to both properties with decent power supply and 2 bore holes supply 1000 litre tanks that supply water to each property.

LOCATION: The subject property situates at No 5&7 Rhodes Crescent, Off Itapeju Street, Apapa in Apapa LGA of Lagos state. The property is off Wharf Road, the right turn before Eleganza and Heritage Bank.
Notable landmarks within the area include: Conoil fuel station, Sterling Bank, Heritage Bank, GTB, Zenith Bank and Eleganza amongst others.

RENT PER ANNUM: The residential property is at least 200 sqm smaller than office building and is rented for N2.5m per annum. The office building has an agreed rental of N3.5m per annum giving a total rental income of N6m per annum. Rental yield is 5% per annum, the highest in Lagos.

PRICE: N130,000,000 Negotiable, no time wasters please. Buy the property and leaseback to current tenants that are willing to pay N6m rent per annum. The first 2 years rent can be deducted from the agreed purchase price if this option is chosen as tenants have agreed to pay the rent.