3 BEDROOM FLAT FOR RENT AT ALAGOMEJI, YABA@ N1.3MILLION/ANNUM(NEGOTIABLE)

Available for rent is an old architectural spacious 3 bedroom flat at Alagomeji.

It comprises:
A spacious sitting room
3 bedroom with wardrobes
A kitchen with cabinet
2 toilets and bathrooms
Portable water available
First floor
Ample parking area...etc


Location: Alagomeji, Yaba


Rent: N1.3million(open to negotiation)


Interested?
Contact: Zircon Realty Global
08090623634, 08144638837
Whatsapp: https:///gtDMjki

u n ur land lord should hug transformer.

1.3 fuk u there

1.3 million for 3 bedroom flat yearly.. Is that not daylight robbery.
How much come be plot of land for ibeju.
Make una dey fear God na

shawante:
1.3 million for 3 bedroom flat yearly.. Is that not daylight robbery.

How much come be plot of land for ibeju.

Make una dey fear God na

u dey mind them

It's quite surprising that properties on that axis are skyrocketing without consideration for current harsh economic realities! Landlords and Agents are mercilessly ripping residents off in that area, as well as neighbourhoods such as Akoka, Gbagada, & Yaba. The high demands for rental apartments by students and staff of higher institutions within that area (UNILAG, YabaTech, FCT Akoka etc) as well as easy access to the Third Mainland bridge actually made the demand even higher. No 3- bedroom flat goes for less than N1mil in these areas mentioned. With Agency and Legal fees, you are spending not less than N1.5mil. The funny thing is that the buildings are extremely old fashioned buildings (as shown in the pics here, without modern floor or wall tiles) and built with less than 500k at the time they were built!

Saynoomore:
It's quite surprising that properties on that axis are skyrocketing without consideration for current harsh economic realities! Landlords and Agents are mercilessly ripping residents off in that area, as well as neighbourhoods such as Akoka, Gbagada, & Yaba. The high demands for rental apartments by students and staff of higher institutions within that area (UNILAG, YabaTech, FCT Akoka etc) as well as easy access to the Third Mainland bridge actually made the demand even higher. No 3 bedroom flat goes for less than N1mil in these areas mentioned. With Agency and Legal fees, you are spending not less than N1.5mil. The funny thing is that the buildings are extremely old fashioned buildings (as shown in the pics here, without modern floor or wall tiles) and built with less than 500k at the time they were built!

You were making plenty of sense till u reached the bolded.The value of ₦500k you estimated at the time the house was built,say 30-40 years ago is equivalent to ₦30-₦50 million it would take to mount same structure today.
So 500k then can never be same as today.

seborrhic:
You were making plenty of sense till u reached the bolded.The value of ₦500k you estimated at the time the house was built,say 30-40 years ago is equivalent to ₦30-₦50 million it would take to mount same structure today.
So 500k then can never be same as today.

So, are you trying to argue that they've not made rental income from these dilapidated old ramshackle houses since they were built? So, it's time to realize current value of old properties by ripping others off!

You have done well by telling us today's cost of building the same type of property, but fact is.."these old huts lack the aesthetics and modern facilities today's properties of N50mil will give you" Again, you have not factored in depreciation, wear and tear, safety (many of them are likely to collapse due to age) etc etc. When you bring in all these factors, many of these properties should even be demolished! They are still standing and used as structures for extortion because of the kind of society we live in, where systems and processes don't work! Go inside many of them and conduct simple inspection, you'll puke. Wires are old, rusty pipes, cracked walls, leaking roofs, etc

Irrespective of whatever exchange rate is today, the fact still remains that these properties are over-priced!