Student Housing Portfolio (Bloomsburg University)

522 East Street; Bloomsburg, PA 17815






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Property Details

  • Price$ 2,000,000
  • Property TypeStudent Housing
  • NeighborhoodNear Bloomsburg Univ
  • Number of Units13
  • Lot Size1+/- acres
  • Price/Unit$ 153,846
  • Price/Bedroom$ 40,816
  • Year Built1900

Investment Highlights

  • Excellent Locations: Ideally Located within Walking Distance of Campus and Blocks from Downtown Bloomsburg
  • High Occupancy: Historically 100% Occupied; Fully Leased for 2017-2018 School Year
  • High Barriers to Entry: Student Housing Laws Prevent New Student Housing Development in Downtown District
  • Value-Add Potential: Renovations to Kitchens and Baths could Realize Rent Increases of 15% – 20%
  • Turn-Key Operation: Current Manager and Maintenance Staff Willing to Work with New Ownership
  • Recent Capital Improvements: Capital Expenditures Undertaken Last 5 Years at Each Property

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in the A+ Student Housing Portfolio at Bloomsburg University. The portfolio includes five physical properties containing 13 units and 49 bedrooms. The properties are situated in a one-mile radius from one another and within walking distance to both Bloomsburg University’s campus and the downtown district, making this a unique opportunity to acquire a sizeable portfolio in the most desirable off-campus student housing locations.

With 60% of students living off campus paired with high barriers to entry in the market, the portfolio has experienced consistently high occupancy and is currently 100% occupied for the 2016-2017 school year. The legal environment in downtown Bloomsburg protects current student housing owners by restricting new development and residential conversions to student housing, thus creating a limit to the supply as the demand grows or remains constant. This unique economic environment in Bloomsburg and excellent locations close to Main Street have helped the portfolio lease up quickly each year with little advertising and marketing. The property is currently 100% preleased for the 2017-2018 school year.

The offering allows new ownership multiple avenues to consider for the future of the portfolio. With a proven manager and maintenance staff in place, who have expressed willingness to work with new ownership, the offering allows the new owner turn-key potential on a stabilized deal. Recent capital improvements support a low initial investment in improvements and repairs. Adversely, new ownership could take a value-add approach upgrading kitchens and baths to realize increased rents of 15% to 20% (See Rental Market Survey, page 7). In the ever-changing student housing industry, this portfolio allows ownership flexibility and an outstanding opportunity to maximize the potential of the assets in a consistently strong student housing market.

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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to or fax to 267-324-3394.


Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530

Tyler Martin
Tel: (215) 454-2852 EXT 1019
Cell: (717) 823-8033
License: PA RS335311

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492


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