Femi Okunnu Estate, Lekki (Breakdown + Price List)

Femi Okunnu Estate, Lekki: Full Details With Complete Breakdown + Price List

Overview

Femi Okunnu Estate is a prestigious, government-developed residential estate located in Lekki Phase 1, Lagos, Nigeria, along the Lekki-Epe Expressway. Delivered in 2004 by the Lagos State Development and Property Corporation (LSDPC), this gated community spans multiple phases (Phase 1, 2, 3, and 4) and is known for its serene environment, well-maintained infrastructure, and robust security. Positioned near Jakande Roundabout and landmarks like Nike Art Gallery and The Circle Mall, the estate is ideal for high-income families, professionals, and investors seeking luxury living in a prime location with strong investment potential.

Location and Accessibility

  • Location: Situated in Lekki Phase 1, along Femi Okunnu Road, near Jakande Roundabout and the Lekki-Epe Expressway. Nearby estates include Friends Colony, Pinnock Beach, and Victory Park, with landmarks like Novare Mall Shoprite and Lagos Business School.
  • Accessibility:
    • Approximately 20–25 minutes to Victoria Island during off-peak hours and 25–40 minutes during rush hour (6:30 AM–8:00 AM).
    • The Lekki-Epe Expressway is a well-tarred primary route, with estate roads tarred and equipped with standard drainage channels. Jakande and Ikate roundabouts have dedicated turning lanes to reduce traffic congestion.
    • Access is via a single main entrance, with an alternate route through Osapa London for some phases.
  • Strategic Advantage: Proximity to the Lekki Free Trade Zone, Lekki Deep Sea Port, proposed Lekki Airport, and the Fourth Mainland Bridge enhances its investment value. The estate’s location in Lekki Phase 1, a hub for affluent residents, supports high rental demand.

Infrastructure and Amenities

  • Gated Community: Features 24/7 security with armed and unarmed personnel, CCTV surveillance, and strict visitor protocols requiring host confirmation and registration at the gate.
  • Road Network: Tarred central and street roads with standard drainage channels, ensuring a flood-free environment.
  • Utilities:
    • Electricity: Dedicated transformers provide reliable power, supplemented by EKDC. Prepaid meters are common, with monthly electricity costs around ₦15,000 for a duplex.
    • Water Supply: Centralized water treatment plant with billing based on house size (e.g., ₦10,000/month for a detached house).
    • Waste Management: Included in service charges, with regular collection and fumigation.
  • Recreational Facilities: Limited to green areas and a public playground (under construction as of 2017). The estate prioritizes residential comfort over extensive amenities.
  • Service Charges:
    • Monthly service charge: ₦45,000, covering security, gardening, waste management, and estate maintenance.
    • Annual service charge (estimated): ₦540,000.
    • Agency/legal fees: 10% each of annual rent; caution fee: ₦500,000–₦700,000 (varies by property).
  • Nearby Amenities: The Circle Mall (Shoprite), Jakande Market, Perez MedCare, Lagoon Hospital (Victoria Island), Supreme House Montessori School, Silversands Hall School, and social spots like Oakwood Park Hotel and Kohinoor Lounge.

Property Types and Features

  • Property Types: Detached and semi-detached duplexes, bungalows, apartments (2–3 bedrooms), and residential plots.
  • Features:
    • Detached Duplexes (4–5 bedrooms):
      • All en-suite bedrooms with fitted wardrobes, spacious living areas, family lounges, and boys’ quarters (BQ, 1–3 rooms).
      • Fitted kitchens with appliances (hob, oven, extractor), guest toilets, and large compounds for 4–6 cars.
      • Features like POP ceilings, water heaters, and bulletproof doors in newer units.
    • Semi-Detached Duplexes (4 bedrooms):
      • Similar features to detached duplexes, with slightly smaller compounds.
      • Modern fittings, balconies, and kitchen islands in select units.
    • Apartments (2–3 bedrooms):
      • En-suite rooms, fitted kitchens with appliances, and spacious sit-outs.
      • Features like bulletproof security doors and water treatment systems.
    • Residential Plots:
      • Sizes: 600–28,000 sqm (large plots face the expressway).
      • Suitable for custom builds or commercial development.
  • Title: Certificate of Occupancy (C of O), Governor’s Consent, or Deed of Assignment, ensuring secure ownership.

Price List

Note: Prices are based on listings from Nigeria Property Centre, PropertyPro Nigeria, and other sources, updated as of June 25, 2025. Prices vary based on property condition, size, and market trends.

For Sale

  • Houses:
    • 4-Bedroom Semi-Detached Duplex with BQ: ₦115,000,000–₦190,000,000 (e.g., Phase 2, 2-room BQ, ₦115M; Osapa, ₦190M with Governor’s Consent).
    • 4-Bedroom Terrace Duplex: ₦55,000,000 (beside Nicon Town/Femi Okunnu, 100m off expressway).
    • 5-Bedroom Detached Duplex with BQ: ₦150,000,000–₦450,000,000 (e.g., ₦150M in Phase 1; ₦450M with pool, cinema, rooftop at Victory Park nearby).
    • Average Price: ₦140,000,000 (range: ₦55,000,000–₦1,000,000,000 for Lekki properties).
  • Apartments:
    • 3-Bedroom Apartment with BQ: ₦35,000,000–₦90,000,000 (e.g., Phase 4, ₦90M with Deed of Assignment).
  • Land:
    • 600 sqm Plot: ₦60,000,000–₦80,000,000 (comparable plots in Agungi/Osapa).
    • 28,000 sqm (facing expressway): ₦900,000–₦1,000,000 per sqm (C of O, Governor’s Consent).
  • Average Price: ₦72,981,443 for properties; ₦100,000,000 for houses (Lekki average).

For Rent

  • Houses:
    • 4-Bedroom Semi-Detached Duplex with BQ: ₦5,000,000–₦18,000,000 per annum (e.g., Phase 1, ₦18M with 1-room BQ).
    • 5-Bedroom Detached Duplex: ₦10,000,000–₦15,000,000 per annum (service charge: ₦540,000; agency/legal: 10% each; caution: ₦700,000).
    • Total Package Example (4-Bedroom): Rent (₦6,000,000) + Service Charge (₦540,000) + Agency (₦600,000) + Legal (₦600,000) + Caution (₦700,000) = ₦8,440,000 first-year total.
  • Apartments:
    • 1-Bedroom Flat: ₦1,200,000 per annum (Phase 1, service charge: ₦120,000/year; agency/legal/caution: 10% each).
    • 3-Bedroom Flat: ₦3,500,000–₦5,000,000 per annum (service charge: ₦540,000; agency/legal/caution: 10% each).
  • Average Rental Price: ₦15,000,000 per annum (range: ₦1,200,000–₦50,000,000 for Lekki properties).

Investment Potential

  • Advantages:
    • Prime location in Lekki Phase 1 ensures high rental demand and property appreciation (20%–30% annual ROI, as seen in Lekki Gardens with ₦116.2 million returns in under two years).
    • Secure titles (C of O, Governor’s Consent) and 24-hour electricity enhance value.
    • Proximity to major developments (Lekki Free Trade Zone, Lekki Deep Sea Port, Fourth Mainland Bridge) drives long-term growth.
    • Established infrastructure and government-backed development attract affluent residents.
  • Challenges:
    • High service charges (₦540,000/year) and additional fees increase ownership costs.
    • Older designs in some phases may require upgrades, subject to deed restrictions.
    • Traffic congestion on the Lekki-Epe Expressway during peak hours.
  • Outlook: Femi Okunnu Estate’s robust infrastructure, security, and prime location make it a top-tier investment for rental income and capital gains in Lekki’s luxury market.

Nearby Estates and Developments

  • Friends Colony Estate, Pinnock Beach Estate, Victory Park Estate, Cowrie Creek Estate, and Northern Foreshore Estate.
  • Proximity to Nike Art Gallery, The Circle Mall (Shoprite), Jakande Market, and schools like Supreme House Montessori and Silversands Hall.

Contact Information

For inquiries or property viewings:

  • Femi Okunnu Estate, Lekki Phase 1:
    • Realty In And Out Consult: +2347033410777, +2349074085691,
    • Divention Properties Limited: 08032443481.
    • Ascsl: 08060543071 (3-bedroom apartment inquiries).
    • 17 Three Digital Realtors: 08068958046.
    • Neighbourhood Review: +234-8132257106, in**@*****************ew.com.
  • General Inquiries: Lekki Gardens (in**@**********ns.com, 07001239008) for similar developments.
  • Note: Verify agent credentials and inspect properties physically before payments to avoid scams.

Conclusion

Femi Okunnu Estate in Lekki Phase 1 offers a secure, luxurious living experience with 24-hour electricity, tarred roads, and robust security. Its prime location near the Lekki-Epe Expressway and major developments like the Lekki Free Trade Zone ensures high investment potential, with 20%–30% annual ROI. The estate’s diverse property types, secure titles, and proximity to amenities make it ideal for affluent residents and investors. Contact verified agents for the latest pricing and availability.

Disclaimer: Prices and availability are based on data as of June 25, 2025, and may vary. Verify details with estate agents or developers for accuracy.

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