425 Donavan Street
South Lyon, MI 48178
Multi Family · MLS # 20261075491 · Listing courtesy of Greater Development LLC
About this home
Fully stabilized 20-unit townhome community in South Lyon, built in 1960 across five buildings totaling approximately 20,656 SF. Unit mix includes 12 two-bedroom/one-bath units (975 SF) and 8 three-bedroom units (6 with one bath at 1,125 SF, 2 with two baths at 1,079 SF), each with its own private exterior entrance and 40 parking spaces on site. Units are individually metered for electric and gas, which tenants pay directly; ownership covers only water and trash. Forced-air heat and central air throughout. Currently 97% occupied (19 of 20 units leased). Located near downtown South Lyon with convenient access to US-23, roughly 45-55 minutes to Detroit and 25-30 minutes to Ann Arbor, within the highly regarded South Lyon Community Schools district. A rare opportunity to acquire a well-maintained multi-family asset in a tightly held Oakland County submarket.
Interior
Systems and utilities
Exterior and lot
Taxes, HOA and more
Schools
How it compares in South Lyon
Over the last 90 days, 144 homes sold in South Lyon for a median of $430,000, about $173 per square foot, and the typical one went under contract in 20 days. This home is listed at $3,995,000, or $193 per square foot, 12% above the city median, and has been on the market 8 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent South Lyon sales or ask us for the comparable sales on this one.
Property taxes for a new owner
The current owner pays about $30,531 a year. A buyer who lives here would pay about $22,293 to $85,033 a year once the taxable value resets after the sale, at the 2025 homestead rate of 42.15 mills for South Lyon City and South Lyon schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.
Monthly payment estimate
Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.
Location
Similar homes in South Lyon
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