You're looking at ₦200,000 to ₦40,000,000 yearly for 2 bedroom flats in Ikoyi-Obalende. Budget-friendly options begin at ₦200,000, while properties positioned closer to Ikoyi proper with improved security and building standards can cost ₦40,000,000. Your exact location between Ikoyi and Obalende matters enormously. Building quality and neighborhood also impact final rent.

"Flat" or "apartment"—which should you search for in Ikoyi-Obalende? Either one works because they mean the same thing here. Both refer to self-contained living spaces within larger residential buildings. The terminology doesn't affect what you'll find. Focus instead on differentiating flats/apartments from houses (standalone buildings), duplexes (two-floor units), or self-contain rooms (single rooms with facilities).

Ikoyi-Obalende offers both. Unfurnished units run ₦200,000 to ₦40,000,000 per year. Need it furnished with appliances, furniture, and basic fixtures? Budget an extra ₦1,800,000 to ₦4,500,000 more annually—typically 20-30% higher than bare units. Furnishing quality varies by specific location and building, so inspect thoroughly. Use ExpertListing's filters to narrow by furnishing preference.

Properties here typically include building security, generator backup (often shared), water supply from boreholes, parking where available, and basic maintenance. Better buildings closer to Ikoyi may offer improved security and facilities. You'll find prepaid electricity meters and standard plumbing in most units. Amenities are generally basic to moderate depending on location within the zone. Always verify specific building features with property owners on ExpertListing.

All landlords on ExpertListing are verified before listing, but take these extra steps: Use our map to physically locate and inspect the property. Ask to see the C of O or Governor's Consent and verify it's genuine—this is crucial on Lagos Island where land ownership can be complex. Confirm the landlord's identity matches property documents. Never pay without a signed tenancy agreement, period. Keep all communications on ExpertListing's messaging platform for documentation.

Absolutely, that's exactly who this area serves. If you want to say you live "near Ikoyi" without paying full Ikoyi prices, this works. You're close enough to walk to VI or central Ikoyi for work, which saves serious commute time and transport costs. Plus you have direct access to Obalende's bus terminal for getting anywhere in Lagos. The trade-off is noise and activity from the transport hub—it's not a quiet residential area. Buildings are older and less fancy than central Ikoyi. But for young people focused on saving money while staying close to Island jobs, the math works. Just prioritize buildings closer to the Ikoyi side for quieter environment and better infrastructure.