| CREOP

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.

South Lyon is a tightly held Oakland County submarket located roughly 45 to 55 minutes from downtown Detroit and a short 25- to 30-minute drive to Ann Arbor via US-23, putting residents within reach of two of the region's largest employment hubs. The city is served by South Lyon Community Schools, an A- rated district, and features a walkable downtown with local shops and restaurants. Rising homeownership costs in the submarket -- the average home value now exceeds $470,000 -- continue to support strong demand for quality rental housing.

South Lyon, Michigan is a highly desirable Oakland County community located roughly 45 to 55 minutes from downtown Detroit and a short 25- to 30-minute drive to Ann Arbor via US-23, putting residents within reach of two of the region's largest employment hubs. The city is served by South Lyon Community Schools, an A- rated district, and features a walkable historic downtown with local restaurants, shops, and community events. Donovan Townhomes sits within easy reach of the I-96 and US-23 corridors, giving residents convenient access to jobs throughout Detroit, Ann Arbor, and the broader western Oakland/Livingston County job base.
South Lyon's housing market reflects the strength of its surrounding submarket, with a predominantly owner-occupied, single-family housing stock that keeps rental supply limited relative to demand. The average home value in South Lyon now exceeds $470,000, up more than 4% over the past year, pushing homeownership further out of reach for many renters. As homeownership costs continue to climb, well-located, moderately priced rental communities like Donovan Townhomes remain an attractive alternative, supporting sustained occupancy and rent growth potential for the asset.