Investment Overview

The portfolio consists of 4 Buildings and is currently 98% occupied. Three of the four buildings have been fully renovated and has received major capital improvements. Parker street has received light renovations. This is a great opportunity to acquire turn-key apartment buildings in the up and coming Newark market. Current rents are about 22% below market and although there is rent control in Newark there is a city ordinance that allows the legal rent to be raised if rented to voucher tenants. The legal Fair Market Rent for Section 8 In Newark increases roughly $200 in 2025 for all bedroom counts, studios through 4 bedrooms, which is immediate upside. All buildings are across the street or within blocks of new developments, catalyzing property appreciation. The property is steps from Branch Brook Park and one of Newark’s most recognizable landmarks, the Cathedral Basilica of the Sacred Heart. The properties have easy access to key employment centers of Downtown Newark. Major employers in Newark include the Prudential Center, Rutgers, New Jersey Institute of Technology (NJIT), Mars, PSEG, Panasonic, Saint Michael’s Medical, University Hospital, Gateway Group One and more. All properties are close to major international airports including Newark Liberty, JFK, and La Guardia. Newark is undergoing significant revitalization with new developments, infrastructure improvements, and increased job opportunities. Newark is seen as an affordable option compared to its neighboring markets such as Jersey City and New York City. As new developments surge into Newark’s market, property values will only rise in result of. Newark’s diverse demographics creates a strong rental market. From students to families, vacancy is down from a year ago, and new construction is getting absorbed in record time.