3-Bedroom Bungalow with Solar
Aiyetoro, Ibeju-Lekki, right along the Lekki–Epe Expressway, Lagos
₦75.00
Product Description: Arámidé Bungalow
The Arámidé Bungalow is a residential development situated in Aiyetoro, Ibeju-Lekki, positioned along the Lekki–Epe Expressway. The project focuses on "eco-conscious" construction and middle-class accessibility.
Technical Specifications & Features:
Unit Type: 3-Bedroom Bungalow plus a detached Boy’s Quarter (BQ).
Title: Certificate of Occupancy (C of O).
Eco-Features: Use of recyclable construction materials and energy-efficient finishes.
Energy: Integrated solar panel systems for power independence and reduced utility costs.
Design: Open floor plans with large-format windows to optimize natural light and cross-ventilation.
Infrastructure: Paved roads, 24/7 security surveillance, tennis courts, and communal green zones.
Pricing: ₦75,000,000 per unit.
Payment Structure: Minimum deposit of ₦3,000,000 with a 6-month installment window. Outright payments grant ownership transfer upon unit delivery.
2. Infrastructure & Market Demand Drivers
The Aiyetoro axis is currently influenced by several large-scale infrastructure projects that dictate land value and rental demand in 2026.
Lekki-Epe International Airport: Located in the Alaro City/Aiyetoro vicinity. As of early 2026, the project has moved into advanced clearing and primary runway foundation stages, with a projected operational date of 2028.
Pan-Atlantic University (PAU): A primary institutional anchor located within 5–7 minutes of the site, driving demand for faculty housing and professional rentals.
Lekki-Epe Expressway Expansion: The completion of the six-lane reinforced concrete road has improved commute times to the Lekki Free Zone and Epe Fish Market.
Economic Zones: Proximity to Alaro City, Eleganza Industrial City, and the Dangote Refinery creates a consistent pool of corporate tenants.
3. Comparative Market Data (Ibeju-Lekki vs. Ibadan)
Per your request for benchmarks, the following table compares similar 3-bedroom bungalow assets in the Ibeju-Lekki corridor with the secondary market in Ibadan as of February 2026.
Metric | Ibeju-Lekki (Aiyetoro) | Ibadan (Premium Axis) |
Avg. Purchase Price | ₦70M – ₦85M | ₦55M – ₦75M |
Avg. Annual Rent | ₦4.5M – ₦6.0M | ₦1.5M – ₦4.5M |
Annual Appreciation | 25% – 35% | 9% – 14% |
Residential Yield | 7% – 12% | 8.29% |
Occupancy Rate | 92% | 85% |
Data Sources: Nigeria Property Centre (2026), PropertyPro.ng Market Reports, The Africanvestor Yield Index.
4. Financial Projections & ROI Analysis
Investing in a ₦75 million unit in this corridor is characterized by high capital appreciation rather than immediate high-yield rental cash flow.
Projected Capital Appreciation
Given the 30% average annual appreciation in the Epe corridor due to airport progress, the projected value in 2028 is calculatedto be ₦126,750,000
Rental Yield and Payback Period
Assuming a conservative starting rent of ₦5,000,000 per annum:
Gross Rental Yield: $\frac{5,000,000}{75,000,000} \times 100 = 6.67\%$
Estimated Payback Period (Rent only): Approximately 15 years, though this decreases significantly when accounting for a 10% annual rent escalation.
5. Summary of Ownership Terms
Service Charges: To be determined by the designated Facility Management Company upon estate completion.
Delivery Policy: Keys and ownership transfer are executed upon the completion of the gross payment and the construction delivery date communicated by the developer
1. Financial Breakdown: The Arámidé Asset (₦75M)
Investment Component | Value |
Purchase Price | ₦75,000,000 |
Ancillary Fees (Survey/Legal/Documentation) | ~₦5,000,000 (Estimated at 6.6%) |
Total Capital Outlay (Ready to Rent) | ₦80,000,000 |
2. Revenue Scenario A: Professional Annual Lease (The "Service-Premium" Play)
In 2026, the inclusion of Solar Panels and uninterrupted power in Ibeju-Lekki allows landlords to charge a "Service-Inclusive" premium. High-level staff at the Dangote Refinery or Alaro City prioritize noise-free, reliable energy over cheaper properties that require expensive diesel generators.
Realistic Annual Rent: ₦7,500,000 – ₦8,500,000
Net Income (After 5% Maint. & 10% Mgmt): ₦6,375,000
Gross Rental Yield: 10% – 11.3%
Net Rental Yield: ~8.5%
The Upside: Properties with integrated solar in this corridor typically experience 0% vacancy rates due to the scarcity of "plug-and-play" energy solutions.
3. Revenue Scenario B: Corporate Short-Let (The "Yield-Max" Play)
The proximity to the New International Airport site and Pan-Atlantic University makes this unit ideal for visiting consultants, technical expatriates, and academic stakeholders.
Nightly Rate (Realistic/Premium): ₦100,000 per night.
Projected Occupancy (Realistic for 2026): 45% (approx. 164 nights/year).
Gross Annual Revenue: ₦16,400,000.
Operational Expenses (Mgmt, Laundry, Wifi, 20%): ₦3,280,000.
Net Annual Cash Flow: ₦13,120,000.
Gross Rental Yield: 21.8%.
Net Rental Yield: ~16.4%.
4. Realistic Payback Period Analysis (Cash Flow + Equity)
Investors often calculate "Payback" solely on rent, but in a growth corridor like Aiyetoro, equity growth is the primary driver.
Cash-on-Cash Payback (Rent only)
Scenario A (Annual): 9.4 Years (Factoring in a 10% annual rent escalation).
Scenario B (Short-let): 5.8 Years (Factoring in a 10% nightly rate escalation).
Total Return Payback (Rent + Appreciation)
If you factor in the 25% annual appreciation consistent with the Epe-corridor's infrastructure milestones (Airport foundation and Coastal Highway progress):
Projected Value at Year 3: ₦146,400,000
Status: You will have effectively "paid back" your initial ₦75M investment through paper equity alone within 26 to 30 months.
5. Risk & Foresight
Occupancy Risk: While the upside is high, the short-let market is sensitive to the "look and feel" of the estate. It is extremely crucial that the estate's facility management (communal green spaces, tennis courts) are maintained to a high standard for occupancy rates to be sustained.
Ancillary Fees: To operate in the short-let market, you will need to spend an additional ₦5M–₦7M on furniture
Liquidity: While the asset value grows fast, residential property in Ibeju-Lekki is a "mid-to-long term" exit. Selling the unit at peak value (₦120M+) usually takes 6–8 months of marketing in the secondary market.
Summary Recommendation
To maximize the "relevant upsides," the Corporate Short-let (Scenario B) is the superior path for the Arámidé product. The combination of Solar Power and 3-Bedroom + BQ configuration targets the exact "Corporate Housing" deficit currently existing for the 150,000-person workforce in the Lekki Free Trade Zone.