Austin Street Townhomes
New Investment Opportunity!
24-unit Townhomes in Prime Allentown Location
Webinar: October 17, 2024 7 PM EST
Join our exclusive webinar to discover our latest multifamily investment in Allentown, PA! This value-add opportunity features 24 townhomes in a prime location, offering strong returns, significant upside potential, and a chance to invest in a property and market poised for growth.
THE OPPORTUNITY
Austin Street Townhomes features 24 two-bedroom, one-bath units built in 1985 and 2003, with private garages, and driveway parking. Our value-add plan includes interior renovations and upgraded amenities enabling us to raise rents to market rates, offering a 25% upside. Recent improvements include $40K for new decks and $20K for updated water mains. Located in Allentown, PA, the property benefits from a strong job market, nearby schools, parks, shopping, and easy access to public transportation and highways.
Are you ready to take your investing to the next level? Join our upcoming webinar where we will unveil an exclusive opportunity to partner with us on our next multifamily investment!
KEY HIGHLIGHTS
STRONG RETURNS
Investors can expect an 8% preferred return, along with a projected 8-10% Cash-on-Cash return. Additionally, we are projecting a 14-15% IRR and 1.8x-2.0x equity multiple for long-term growth. Plus, 50% of investor capital is projected to be returned by the end of year three.
VALUE-ADD BUSINESS PLAN
With over $10K per door being invested in strategic renovations and upgrades, our value-add plan aims to elevate overall quality of living and property value.
PRIME ALLENTOWN LOCATION
Located in Allentown, PA, this property benefits from proximity to major highways like Interstate 78 and U.S. Route 22, making it an ideal location for commuters. The area boasts a growing population and is home to major employers like Lehigh Valley Health Network and PPL Corporation.
HIGH QUALITY FEATURES
The property consists of 24 multifamily units, including a highly desirable townhome layout with garage. Recent capital improvements total over $60K including new water mains and decks. Each unit also offers the convenience of off-street parking, individually metered utilities, and tenant-paid electric.
THE TEAM
Summit Capital's leadership has over a decade of real estate experience and has been involved in over $55MM in real estate transactions. Collectively we currently own and operate over $10MM of real estate in the Lehigh Valley.
TODD SILANCE
Co-Founder and Managing Partner
SCOTT CHEEK
Co-Founder and Managing Partner
WHY MULTIFAMILY REAL ESTATE?
If you’re looking to generate consistent passive income while building long-term wealth, multifamily real estate is one of the smartest investment strategies available today.
Consistent Cash Flow
Multifamily properties provide reliable rental income month after month, offering you a steady source of passive income. Unlike other investments that can be unpredictable, multifamily real estate allows you to count on consistent returns, even in uncertain markets.
Stability in any Market
Multifamily real estate is considered one of the most recession-resistant asset classes. When economic times get tough, people still need a place to live, making rental housing a stable investment even during downturns. This built-in demand helps safeguard your investment from market volatility.
Scalability & Growth
With multifamily properties, you have multiple tenants contributing to your income stream, which spreads out risk. Plus, these properties offer opportunities for ‘value-add’ improvements, where strategic upgrades can significantly increase both rental income and the property’s overall value—boosting your returns.
Truly Passive Income
One of the best parts of multifamily syndication? You don’t have to manage the property yourself. Professional property managers handle day-to-day operations, making it a completely passive investment for you. You can sit back and enjoy the returns while we handle the heavy lifting.
Diversification & Wealth Building
By investing in multifamily real estate, you diversify your portfolio with a tangible, income-producing asset. This reduces your exposure to stock market fluctuations and adds a level of security that many other investments can’t match.
JOIN A COMMUNITY OF SAAVY INVESTORS
This isn’t just another investment deal—it’s a chance to join a group of like-minded, educated investors who are building wealth through multifamily real estate.
TESTIMONIALS
WHAT OTHERS ARE SAYING
"Summit has been great to work with."
"They have made my first time investing in real estate seamless and hassle free. They took the time to educate me on the benefits of investing in real estate and making sure I was comfortable before placing my first investment."
- Chris E.
"I have invested in 4 different deals."
"The Summit team is very knowledgeable, thorough, and responsive. They kept me informed throughout the entire investment process and I couldn't be happier with the returns."
- Kevin S.
"I highly recommend Summit Capital."
"I have enjoyed my Summit investing experience and working with a team I know I can trust."
- Tim D.
FAQS
What is the typical hold period for this investment?
The typical hold period for this investment is 5 to 7 years. During this time, we execute our value-add business plan to maximize the property’s value, with the goal of providing strong returns to our investors through rental income and eventual sale.
Do you have to be an accredited investor?
No, this is a 506(b) offering, which allows both accredited and a limited number of non-accredited investors to participate. However, non-accredited investors must meet certain sophistication requirements and have a pre-existing relationship with the sponsor.
What is the minimum investment?
$50,000
How can this investment help me with taxes?
If you're anticipating a large capital gains hit in 2024, this investment could offer significant tax benefits. We will be performing a cost segregation analysis, which allows us to maximize depreciation in 2024. This could potentially reduce your taxable income, offsetting some or all of your capital gains. However, we always recommend consulting your tax professional for personalized advice.