1709-1711 St. Andrew St + 2103-05 Baronne St, 25 units, monthly update through 8/31/2026 (finalized, post-close)
Occupancy: 92.0%August NOI: $22,296Monthly Update, No Distribution This Cycle
Portfolio Summary, August 2026
Occupancy
92.0%
23 of 25 units
August NOI
$22,296
Combined, both properties
August Net Cash Flow
$12,030
NOI after debt service
August Net Income
$12,030
August Revenue
$28,822
Cash Position (8/31/26)
$83,690
First balance sheet on file for this entity
YTD NOI (Jan-Aug)
$152,191
Distribution
None This Period
Combined Portfolio, 6-Month NOI Trend (Mar-Aug 2026)
August Income Summary
Line Item
St. Andrew
Baronne
Combined
Rental & Other Income
$14,827
$13,995
$28,822
Management Fee
($1,588)
($1,370)
($2,958)
Repairs & Maintenance
($798)
($667)
($1,465)
Other Operating (utilities, landscaping, janitorial, commissions, shared entity services)
($922)
($1,026)
($2,103)
Net Operating Income
$11,519
$10,932
$22,296
Debt Service (Interest)
($5,133)
($5,133)
($10,266)
Net Cash Flow
—
—
$12,030
Net Cash Flow is shown at the portfolio level (NOI less debt service on both loans). Both properties' repairs & maintenance came in at normal, non-eventful levels this month, no one-time repairs to call out. Full account-level detail is available in the quarterly report.
Trailing Trend (Jan-Aug 2026)
Month
Revenue
NOI
Jan 2026
$29,122
$21,461
Feb 2026
$28,943
$15,866
Mar 2026
$29,637
$21,895
Apr 2026
$27,639
$18,131
May 2026
$32,210
$24,509
Jun 2026
$31,821
$21,094
Jul 2026
$27,421
$20,962
Aug 2026
$28,822
$22,296
Jan-Aug Total
$233,581
$152,191
The Jan-Aug total reflects the year-to-date figure now available directly from QuickBooks for this property; monthly figures above reflect amounts reported at the close of each period.
Rent Roll Summary
Property
Units
Occupied
Vacant
In-Place Rent (scheduled)
1709-1711 St. Andrew
16
14
2
$15,881
2103-05 Baronne
9
9
0
$14,095
Combined
25
23
2
$29,976
St. Andrew has 2 vacant units, both actively marketing. One additional St. Andrew unit is in the move-out process at month end; leasing will begin immediately once vacant. Baronne is fully leased following the August 1st lease-up reported last cycle.
Upcoming Lease Expirations (Next Two Months)
Month
Leases Expiring
September 2026
0
October 2026
1
Delinquency & Collections
Item
St. Andrew
Baronne
Tenants past due / on notice
1 unit in eviction process, move-out scheduled month end
Not available this cycle
Late fees collected
Included above
Not available this cycle
Cash Position
Cash (as of 8/31/26)
$83,690
Distribution this period
None
A balance sheet was received for this entity for the first time this cycle, confirming the cash position above. No distribution was made this period.
Highlights & Priorities
POSITIVEBaronne remained fully leased all of August following last cycle's lease-up, and combined occupancy improved to 92% from 88% in July.
POSITIVEA full balance sheet is now on file for this entity for the first time, confirming a cash position of $83,690 as of 8/31/2026.
FOCUSTwo St. Andrew units remain vacant and are actively marketing. A third unit is in the eviction process with move-out scheduled for month end; re-leasing will begin immediately once vacant.