17 Main St Bloomsburg, PA 17815

Property Details for 17 Main St

Lot size

0.25 lot acres

Property type

Investment properties

Property subtype

Live-work space

APN

05E,04--065-00,000

APU

05E0406500000

Description

This exceptional investment opportunity presents a portfolio of seven student housing properties totaling 257 beds in Bloomsburg, Pennsylvania. Strategically located near Bloomsburg University, this stabilized portfolio boasts a remarkable near 100% historical occupancy rate and strong cash flow, generating a NOI of $1,451,626 with a 7.02% cap rate. The asking price is $20,676,000. The portfolio comprises 93 units across 113,759 square feet of net rentable space, including approximately 200 parking spaces, generating additional income. Buildings were constructed in 1930, 1954, 1989, 2009, and 2015, with renovations completed between 2009 and 2016. Many units feature upgraded amenities such as granite countertops, hardwood flooring, ceramic tile, large TVs, in-unit laundry, and high-speed internet. The portfolio's prime location near the university and downtown amenities, coupled with the recent significant investment in healthcare infrastructure in the area, ensures continued strong demand and potential for future growth. This is a rare opportunity to acquire a substantial, high-performing student housing portfolio with a proven track record of success. The portfolio offers an economy of scale and is being offered for sale due to the retirement of the long-time owner.