Magnolia Properties acquired 5536 Tilbury, located in Lakewood, CA, on August 8, 2024. We are currently in the process of fully renovating the house, stripping it down to the studs and redesigning it from the ground up to enhance its appeal. As of December 2024, we have secured the permits for two backyard Accessory Dwelling Units (ADUs), each designed as a 1,200 SF, three-bedroom, two-bath unit stacked on top of one another. We completed construction and had the property fully leased by the end of July 2025. We completed construction and fully leased the property by the end of July 2025. Since then, we have executed a cash-out refinance and now hold the property as a long-term cash-flowing asset.