Lagos Areas
Ikate Lekki Property Guide: Prices & Best Streets
Laide Matthews · 26 October 2026 · 4 min read
Agungi Lekki: Property Prices & Investor Guide
Key takeaways
- Agungi is where Lekki investors chase yield between Phase 1 and Chevron. As of Oct 2026, 2-bedroom rents are asking ₦6.5M–₦9M/yr, 4-bedroom semi-detached homes rent ₦10M–₦12M/yr, and 4-bedroom houses sell ₦150M–₦270M in listings. It rewards buyers who check power and drainage street by street.
Last updated: 27 October 2026 · Reviewed by Laide Matthews
Last reviewed: 27 October 2026
TL;DR: Agungi is where Lekki investors chase yield between Phase 1 and Chevron. As of Oct 2026, 2-bedroom rents are asking ₦6.5M–₦9M/yr, 4-bedroom semi-detached homes rent ₦10M–₦12M/yr, and 4-bedroom houses sell ₦150M–₦270M in listings. It rewards buyers who check power and drainage street by street.
Agungi has no landmark. It sells on maths: close enough to Lekki Phase 1 and VI for premium rent, cheaper to enter than Phase 1. That maths fails if you buy the wrong street — a serviced estate with 24-hour power can sit beside a pocket where you are your own government.
Where Agungi sits
Agungi is off the Lekki-Epe Expressway between Ikate and Chevron, around Agungi bus stop and Ajiran Road. Agents cite John Okafor Estate, Idado, Bakare Estate, Oba Amusa Estate, and the Medplus Agungi landmark. It is a tenant market: Lekki professionals and families who want a house with BQ without Ikate pricing.
Prices as of Oct 2026
Asking prices from listings. Verify before you budget.
Rent: 2-bed flats — brand-new ₦6,500,000/yr, serviced with BQ in Araromi ₦8,000,000/yr. Recently rented 2-beds closed at ₦4M–₦9M/yr on PropertyPro, spread by finish and service. 4-bed semi-detached ₦10M–₦12M/yr (John Okafor Estate ₦12M/yr, general Agungi ₦10M/yr). 4-bed detached in Idado ₦11M/yr. 5-bed detached fully serviced ₦13M/yr.
Agency, legal and caution are 10% each in most listings. Ask if rent is serviced or self-serviced — power cost changes the yield.
Buy: 2-bed apartment ₦110M. 3-bed apartment in Oba Amusa Estate ₦90M (C of O). 4-bed semi-detached ₦150M–₦270M (₦170M off Agungi-Ajiran Road, ₦190M Bakare Estate, ₦250M by Medplus, ₦270M general Agungi). 5-bed detached ₦350M–₦370M on the Chevron axis.
PrivateProperty put Agungi's average house asking price around ₦100M in a small September 2026 sample (₦115M cheapest, ₦370M highest). Use the ranges, not the average.
Why investors like it
Tenant depth: a 4-bed semi at ₦10M–₦12M/yr has real demand from families needing BQ space and Lekki school access. Price step: entry at ₦150M–₦190M for a 4-bed semi versus ₦300M+ for an Ikate terrace. Short-let spillover: serviced 2-beds serve corporate lets from Phase 1, 10 minutes off-peak.
A quick check I run: a 4-bed semi at ₦170M renting at ₦11M/yr is roughly 6–7% gross before vacancy, service and maintenance. That can work if you buy at ₦150M–₦190M on a good road. At ₦250M–₦270M for the same tenant, ask what justifies the premium.
Risks to check
Power honesty: listings range from "24 hours security" to "24 hours electricity." Ask the estate for hours per day, tariff per kWh, and backup when the generator is down — from a tenant, not the flyer.
Roads and drainage: the expressway side is fine; inner streets off Ajiran Road and Idado can flood. Drive in rain.
Title: Governor's Consent appears often (John Okafor, Bakare). Confirm it covers your unit and estate dues are clear. Older pockets carry Deed of Assignment chains needing a careful lawyer.
Service creep: a ₦6.5M rent plus ₦1.5M service and pay-as-you-go power is a different yield from ₦6.5M all-in. Model the tenant's total cost or vacancy will model it for you.
Who should buy
Investors with a 5-year horizon and a property manager, and families who have visited the estate at night and in rain. Look elsewhere if you need guaranteed 24/7 power without a generator budget, or land to build — Ogombo and Sangotedo have more plots.
Frequently asked questions
How much is a 4 bedroom duplex in Agungi Lekki?
As of Oct 2026, 4-bed semi-detached duplexes in Agungi ask ₦150M–₦270M to buy, many at ₦170M–₦190M in John Okafor and Bakare estates. Rents are ₦10M–₦12M/yr. Asking prices from listings.
How much is rent in Agungi Lekki?
Two-beds ₦6.5M–₦8M/yr for new or serviced units, 4-bed semis ₦10M–₦12M/yr, 5-bed detached ₦13M/yr in current listings. Add agency, legal and caution at 10% each plus service charge.
Is Agungi a good investment area?
Agungi offers lower entry than Ikate and Phase 1 with a deep tenant pool, around 6–7% gross on mid-priced 4-beds before costs. Returns depend on estate power, road and purchase price.
What estates are in Agungi Lekki?
John Okafor Estate, Bakare Estate, Oba Amusa Estate and Idado are commonly listed. Each has different power, security and roads — verify the estate, not just the area name.
Does Agungi flood?
Parts are prone to standing water in heavy rain, especially inner streets off Ajiran Road. Inspect the street and estate drainage after rain and ask residents about access.
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About the author
Laide MatthewsLagos Real Estate Consultant
Laide Matthews is a Lagos real estate consultant with a degree in Estate Management from Obafemi Awolowo University and experience across property sales, acquisition, leasing, management and advisory since 2019. Through BuyRentLagos, he writes about the questions that shape better property decisions in Lagos.
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