I-80 Corridor Apartment Portfolio 2 Properties in Multiple Locations

The Investment Sales Team of Avison Young is pleased to present qualified investors with the opportunity to acquire the I-80 Corridor Apartment Portfolio (“Portfolio”). This two-property portfolio consists of 40 total apartment units: 24 units at Bloomsburg Court in Bloomsburg, PA, and 16 units at Mifflin Court in Mifflinburg, PA. Constructed between 1999 and 2001 by the Yoder Group and professionally managed since, the properties have been meticulously maintained, resulting in a 97.5% overall occupancy rate. Both properties benefit from strong rental histories, supported by an older demographic and proximity to premier universities and major employers. Notably, Mifflin Court maintains a waiting list for first-floor units.

The Portfolio offers a compelling value-add opportunity through rental rate growth, driven by strong rental demand and low tenant turnover. Current in-place rents are approximately 17% below market at Bloomsburg Court and 22% below market at Mifflin Court. The Portfolio also includes 16 garages at Bloomsburg Court and eight garages at Mifflin Court. The Bloomsburg Court garages currently do not generate additional revenue.

Each unit includes washer/dryer hookups (tenants provide their own units), and feature a refrigerator, dishwasher, garbage disposal, and electric stove. Both properties have separately metered gas and electric services, paid by tenants, while water, sewer, and trash services are covered by the landlord.