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Multifamily

Natural Park

72 Marsh Rd, Willington, CT 06279

Listing Price: $2,300,000

Cap Rate
6.20%
Number of Units
20
Occupancy
100.0%
Price/Unit
$115,000

Investment Overview

Marcus & Millichap is pleased to present Natural Park Apartments, a 20-unit apartment community located in Willington, Connecticut within 3 miles of the UCONN campus in Storrs, CT. The well-maintained property was built in 1971 and consists of 20 Two-Bedroom Townhouse units, with tenant paid electric heat and hot water. The property features laundry facilities, ample off-street parking, a gazebo, and hiking trails in a park-like setting on 18.36 acres. Natural Park Apartments is approximately three miles from the University of Connecticut campus in Storrs, with an enrollment of over 19,000 graduate and undergraduate students. UCONN continues to be a driving force in the rental market with an inadequate supply of sufficient off-campus housing. The University continues to provide strong demand with a growing enrollment and adds to the stability and growth in this market. Nearby is a FedEx facility. The property has nearby access to Route 44, and access to I-84 providing a convenient commute into the employment markets in Hartford, CT. It is anticipated that a new owner will benefit from the quality of this location, strong apartment demand, low multifamily inventory within the market, and with continued rental growth potential.

Investment Highlights

  • Prime Rental Market- Within 3 Miles of UCONN Storrs Campus
  • Well Maintained- Tenant Paid Electric Heat and Hot Water
  • Near UCONN with over 19,000 Students- Near FEDEX Facility
  • Supply Constrained Market - High Barriers to New Construction
  • Rent Growth Potential

Exclusively Listed By

  • Gary Witten

    Senior Vice President Investments

    (203) 672-3322

    Email Gary

    License(s): CT: RES.0735082, MA: 134116

    New Haven

Listing Price: $2,300,000

Cap Rate
6.20%
Number of Units
20
Occupancy
100.0%
Price/Unit
$115,000

Investment Highlights

  • Prime Rental Market- Within 3 Miles of UCONN Storrs Campus
  • Well Maintained- Tenant Paid Electric Heat and Hot Water
  • Near UCONN with over 19,000 Students- Near FEDEX Facility
  • Supply Constrained Market - High Barriers to New Construction
  • Rent Growth Potential

Investment Overview

Marcus & Millichap is pleased to present Natural Park Apartments, a 20-unit apartment community located in Willington, Connecticut within 3 miles of the UCONN campus in Storrs, CT. The well-maintained property was built in 1971 and consists of 20 Two-Bedroom Townhouse units, with tenant paid electric heat and hot water. The property features laundry facilities, ample off-street parking, a gazebo, and hiking trails in a park-like setting on 18.36 acres. Natural Park Apartments is approximately three miles from the University of Connecticut campus in Storrs, with an enrollment of over 19,000 graduate and undergraduate students. UCONN continues to be a driving force in the rental market with an inadequate supply of sufficient off-campus housing. The University continues to provide strong demand with a growing enrollment and adds to the stability and growth in this market. Nearby is a FedEx facility. The property has nearby access to Route 44, and access to I-84 providing a convenient commute into the employment markets in Hartford, CT. It is anticipated that a new owner will benefit from the quality of this location, strong apartment demand, low multifamily inventory within the market, and with continued rental growth potential.

Exclusively Listed By

  • Gary Witten

    Senior Vice President Investments

    (203) 672-3322

    Email Gary

    License(s): CT: RES.0735082, MA: 134116

    New Haven

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