532 Mulberry St. - Property Analysis
Located in the vibrant heart of Newark, 532 Mulberry Street is a cornerstone asset within the portfolio, renowned for its desirable location and well-maintained residential units. This property benefits from its proximity to key amenities, public transport, and expanding commercial districts, making it highly attractive to a diverse tenant base.
Property Details
This substantial property comprises 28 total residential units, offering a strategic mix to cater to various tenant needs. The units are designed with modern comforts and attract strong rental demand due to their quality and the building's prime location.
- 1 studio unit at $1,800/month
- 5 one-bedroom units at $1,960/month
- 22 two-bedroom units at $2,350/month
The total monthly rental income generated from this property is $63,300, which translates to a robust annual rental income of $759,600 before accounting for vacancy. After a conservative 5% vacancy & collection loss, the Gross Potential Income (GPI) stands at $721,620.
Financial Performance
The financial performance of 532 Mulberry Street is a testament to its efficient management and strong revenue generation. Total annual expenses, which include property taxes, insurance, utilities, and maintenance, amount to $213,702. This represents an impressively low 29.6% of the Gross Potential Income (GPI), indicating excellent operational efficiency.
Consequently, the Net Operating Income (NOI) for this property is a significant $545,898. Based on a market-standard 6.0% capitalization rate, the individual valuation of 532 Mulberry Street is estimated at $9,098,300. This valuation highlights the property's substantial contribution to the overall portfolio's value and its potential for continued appreciation.
532 Mulberry Street represents a strong performing asset within the portfolio, with stable income streams and a high-demand unit mix. Its efficient expense management further solidifies its position as a valuable investment, providing a reliable foundation for the portfolio's overall financial health.
529 Mulberry St. - Property Analysis
Property Details
529 Mulberry Street stands as a unique mixed-use property within the portfolio, strategically located to capture both residential and commercial demand. Its diverse unit composition, featuring 15 residential units alongside a crucial ground-floor commercial space, contributes to a stable and diversified income stream.
The property comprises 16 total units, including 15 residential apartments and 1 commercial retail unit:
- 3 studios at $1,920/month
- 1 one-bedroom at $2,260/month
- 11 two-bedrooms at $2,730/month
- 1 commercial retail unit at $750/month
Financial Performance
The financial performance of 529 Mulberry Street demonstrates sound operational management and a healthy income stream. The total annual expenses for the property amount to $154,257. This figure represents 35.6% of the Gross Potential Income (GPI), which is a competitive expense ratio for a mixed-use property, indicating efficient management of operating costs such as property taxes, insurance, utilities, and maintenance.
Consequently, the Net Operating Income (NOI) for this asset is a significant $279,513. This strong NOI underscores the property's profitability and its ability to generate substantial cash flow. Based on a market-standard 6.0% capitalization rate, the individual valuation of 529 Mulberry Street is estimated at $4,658,550. This valuation highlights the property's solid contribution to the overall portfolio's value and its potential for continued appreciation within the dynamic Newark real estate market. The stable revenue from both residential and commercial tenants makes 529 Mulberry Street a reliable and valuable investment.
The residential units are particularly appealing due to their modern amenities and the building's prime location, offering convenient access to local businesses, public transportation, and community hubs. This attractive unit mix generates a total monthly rental income of $38,050, leading to a robust annual rental income of $456,600 before considering any losses. After accounting for a conservative 5% vacancy and collection loss, the Gross Potential Income (GPI) is calculated at $433,770, reflecting a strong and consistent revenue base for the property.
168 Emmet St. - Property Analysis
Property Details
168 Emmet Street represents a significant asset within the portfolio, strategically located to attract a stable residential tenant base. This property is well-maintained and offers modern living spaces, making it highly desirable for individuals and families seeking quality accommodations in a convenient urban setting. Its proximity to local amenities, transportation links, and employment centers contributes to its consistent demand and strong occupancy rates.
The property comprises 19 total residential units, featuring a desirable mix designed to meet varied tenant needs:
- 4 comfortable one-bedroom units, each generating $2,230/month
- 15 spacious two-bedroom units, each generating $2,730/month
This unit composition generates a robust total monthly rental income of $49,870. Annually, this translates to an impressive gross potential rental income of $598,440 before accounting for any vacancy or collection losses. After applying a conservative 5% vacancy and collection loss assumption, the Gross Potential Income (GPI) for 168 Emmet Street is calculated at a strong $568,518, reflecting its consistent revenue-generating capacity and stable income stream.
Financial Performance
The financial performance of 168 Emmet Street demonstrates sound operational management and a healthy income stream. Total annual expenses for the property amount to $175,397. This figure represents an efficient 30.9% of the Gross Potential Income (GPI), indicating effective management of operating costs, including property taxes, insurance, utilities, and maintenance, without compromising property quality or tenant satisfaction.
Consequently, the Net Operating Income (NOI) for this asset is a substantial $393,121. This strong NOI underscores the property's profitability and its ability to generate significant cash flow for investors. Based on a market-standard 6.0% capitalization rate, the individual valuation of 168 Emmet Street is estimated at $6,552,020. This valuation highlights the property's solid contribution to the overall portfolio's value and its potential for continued appreciation within the dynamic real estate market. The stable revenue and efficient expense management make 168 Emmet Street a reliable and valuable investment within the portfolio.
