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634 Hopeville Rd
Griswold, CT 06351
Tilting Rock Mobile Home Park · Multifamily Property For Sale
·
35,000 SF
Property Facts
| No. Units | 47 | Building Size | 35,000 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Manufactured Housing/Mobile Home | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1970 |
| Building Class | C | Parking Ratio | 10/1,000 SF |
| Lot Size | 15.80 AC | ||
| Zoning | R40 | ||
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 15.80 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 91% |
| No. Stories | 1 |
| Year Built | 1970 |
| Parking Ratio | 10/1,000 SF |
| Zoning | R40 |
About 634 HOPEVILLE RD , GRISWOLD, CT 06351
Marcus & Millichap is pleased to present the opportunity to acquire a mobile home park located in Eastern Connecticut in a city called Griswold. The area boasts a population of 178,174 people in a 15 mile radius with a median housing value of $230,705. Tilting Rock Mobile Home Park contains 47 sites, originally licensed for 54 sites, and it’s on Public Water and Private Septic Systems. Tilting Rock is conveniently located near Interstate 395 making access to Providence, RI and Hartford, CT. This provides its tenants with easy access to shopping (Walmart Supercenter within 3.9 miles), restaurants and local attractions. Based on the Year 1 Pro Forma, an investor could expect to purchase the community at a 8.21% cap rate. As it sits today there are currently 7 vacancies, however the valuation is based on 3 newer homes being occupied prior to close bringing the occupancy at 91.5%. Prior to the 3 homes becoming occupied the owner must update the septic systems to meet the State’s standards - more information can be found on our Due Diligence site.
Property Taxes
| Parcel Number | GRIS-000020-000050-000035-091001 | Improvements Assessment | $8,890 |
| Land Assessment | $0 | Total Assessment | $8,890 |
Property Taxes
