Overview
SVN | Three Rivers Commercial Advisors is pleased to present the opportunity to acquire a five-property, 222-unit multifamily portfolio located in Slippery Rock, Pennsylvania. The portfolio includes the following assets: Pine Glen Apartments – 158 two-bedroom units. Each apartment is fully electric and heated with baseboard electric systems. Martha Rose Apartments – 18 units, consisting of 12 three-bedroom and 6 one-bedroom apartments. Thunderbird Apartments – 16 one-bedroom units, located adjacent to Martha Rose Apartments. The Colonies Townhomes – 18 townhome units, including 4 two-bedroom and 14 three-bedroom residences. Bernard Apartments – A mix of 12 units comprising 5 efficiencies, 2 three-bedroom units, 1 two-bedroom apartment, and 4 two-bedroom townhomes. All properties feature ample on-site parking for residents and guests and are conveniently situated within the Slippery Rock market.
Investment Highlights
- VALUE-ADD OPPORTUNITY: Current ownership has not fully aligned rents with prevailing market rates in Slippery Rock. By transitioning all units from a mix of semester and annual leases to exclusively annual leases, ownership can stabilize occupancy and significantly increase revenue. With 62% of leases already on annual terms, converting the remaining units and aligning all rents with current achieved levels would generate an estimated $375,000 in additional gross income annually.
- PRIME LOCATION: All properties are located within walking distance to Slippery Rock University, a public university with over 8,500 students. SRU is located about 1 hour north of Pittsburgh, PA and the facility has great access to major highways. The properties are also close to national and local retailers on and around the SRU campus.
- STUDENT BODY: As of Fall 2025, Slippery Rock University enrolled 8,625 students marking its fourth consecutive year of enrollment growth and the most significant enrollment increase year-over-year (2.75%) since 2016. There are 1,549 full-time, first-year undergraduate students, which is the largest freshman cohort at SRU since 2019.
- FIRST TIME OFFERING OF A FAMILY-OWNED ASSET: Slippery Rock Apartments has been family owned and operated since 1987 and is being offered for sale for the first time, presenting a rare opportunity to acquire a longheld, well-maintained asset in a proven university market.
Photo Gallery
