Donovan Townhomes 425 Donovan St 20 Unité Immeuble d’appartements 5 894 452 $ CAD (294 723 $ CAD/Unité) 6,50% Taux de capitalisation South Lyon, MI 48178

Donovan Townhomes presents an opportunity to acquire a fully stabilized, 20-unit townhome community in South Lyon, a tightly held Oakland County submarket. The property comprises five buildings built in 1960, offering a mix of 12 two-bedroom units (975 SF) and 8 three-bedroom units (1,079 SF), each with its own private exterior entrance, across roughly 20,656 total square feet with 40 parking spaces. At 100% occupancy, the asset generates monthly gross rental income of approximately $31,000, equating to an annual gross potential income of roughly $372,000. The property carries a favorable utility structure that supports net operating income. Each unit is individually metered for electricity and gas, which tenants pay directly, while ownership covers only water and trash. Units are equipped with forced-air heat and central air, and an active utility reimbursement program adds further income to the operating statement, helping keep the expense load light relative to the property's income. Donovan Townhomes' design sets it apart from the garden-style apartment product that dominates the South Lyon rental market. Its five buildings offer private, town-home units with individual entrances and spacious 2- and 3-bedroom floor plans well suited to families -- a rental alternative to the area's increasingly expensive for-sale housing stock, which continues to support strong demand and occupancy at the property.