8th Street Renovation Project

[Thomas Williams]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $200,000
Cash invested: $600,000

Renovation of 6800 SQFT building in Allentown Market. Conversion making building into 7 Residential Units and 4 Commerical units. Currently Under Construction and projected to finish 45 Days after state lock down.

What made you interested in investing in this type of deal?

This was a great deal to do redevelopment working in the revitalization of Allentown.

How did you find this deal and how did you negotiate it?

We actually acquired this property for free doing a building swap with City Center Investment the largest developer of Allentown Real estate.

How did you finance this deal?

Commerical financing through People's Security Bank and Trust. Construction to Perm.

How did you add value to the deal?

This was a complete stud out renovation along with adding residential units.

What was the outcome?

On going until lifting of COVID restrictions. Projecting 100,000+ in Gross Revenue.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

People's Security Bank and Trust was the lender. In house construction and marketing team.