The Commons on Pratt

Investment Overview

SVN | Three Rivers Commercial Advisors is pleased to present for sale The Commons on Pratt, a student housing property located at 657 Pratt Dr in Indiana, PA. Tenants are responsible for electricity. Landlord covers water, sewer, gas, trash removal, and internet services. All units are fully furnished with a bed frame, mattress, dresser, desk, and chair. There is a kitchen located on each floor and shared bathrooms available for the shared bath units. The property boasts an exceptional location directly adjacent to the Indiana University of Pennsylvania (IUP) campus, placing students steps from academic buildings, the Kovalchick Convention and Athletic Complex (KCAC), and downtown Indiana’s dining and retail corridor. Serving IUP’s student population, The Commons on Pratt offers investors a prime location with strong historical demand in a key western Pennsylvania university market.

Investment Highlights

• Optimized Individual Leasing Structure: The Commons on Pratt operates on an individual studio/bed lease structure across multiple floor plans (Shared Bath, Standard, and Premium Studios). This model generates maximized rental yield per square foot while maintaining accessible price points for IUP students.
• Recent Upgrades & Amenities: The property has benefited from significant recent capital improvements, including a new roof, upgraded high-speed Wi-Fi, fresh exterior/interior paint, new carpet, and stylish vinyl plank flooring. On-site amenities feature an expansive fitness center, common area kitchens, shared lounges, and full laundry facilities.
• Prime On-Campus Location: Situated directly across Pratt Drive from the IUP Eberly College of Business and adjacent to the Kovalchick Convention and Athletic Complex (KCAC), the property offers an unbeatable location. Students enjoy immediate walking access to main campus facilities, including the Health Center, Dining Hall, and IUP Field House.
• Value Add Opportunity: Value-add potential exists for new ownership to build upon current interior renovations, driving rent growth and stabilizing long-term occupancy.