A GENERATIONAL 216-UNIT PORTFOLIO
Parlmont Park Apartments
10 PARLMONT PARK • BILLERICA, MA 01862
OFFERING MEMORANDUMA GENERATIONAL 216-UNIT PORTFOLIO
10 PARLMONT PARK • BILLERICA, MA 01862
OFFERING MEMORANDUMPROPERTY OVERVIEW
Matthews™ has been exclusively retained to sell the Parlmont Park Apartments in Billerica, MA, a 100% market-rate, 216-unit garden-style, suburban apartment portfolio. Originally developed from a gravel pit, Parlmont Park has been owned and professionally managed by the current ownership for over 50 years, representing a truly generational offering.
The property is situated on a single, expansive parcel and consists of 216 apartment units across nine buildings. The community features ample off-street parking, a dedicated management office with a garage, a community pool, and extensive exterior common areas.
216
Total Units
187,355
Gross Building SF
7.88 AC
Lot Size
1970–1975
Year Built
KEY HIGHLIGHTS
Owned and professionally managed by the current ownership for over 50 years. A single, expansive parcel with 216 units across nine buildings — opportunities of this size and historical ownership profile are exceedingly rare in Greater Boston.
50% two-bedroom (108 units), 43% one-bedroom (93 units), and 7% studio (15 units). This in-demand mix enhances leasing velocity and long-term occupancy stability.
Strong recent financial performance: 9.6% year-over-year increase in total income, 19.6% improvement in total expenses, and 15.1% increase in net operating income — providing clear runway for continued optimization.
Opportunity to complete a full mark-to-market on classic unit rents with only light upgrades required. Classic units are extremely clean and well maintained.
Direct access to I-95, I-495, and Route 3. Near local bus routes and Commuter Rail connections providing frequent service into Boston, Cambridge, and Lowell.
A mix of professional households, families, and commuters who value suburban living with access to urban employment. Steady population and household formation sustain multifamily demand.
UNIT INTERIORS
White shaker cabinets, stainless steel appliances, updated countertops, luxury vinyl plank (LVP) flooring, updated fixtures, walk-in showers, updated bathrooms.
41 UNITS COMPLETED
UPSIDE POTENTIAL
41
COMPLETE RENOVATIONS
19% of total units
175
CLASSIC UNITS REMAINING
81% of total units
Light
UPGRADE LEVEL REQUIRED
Units are clean & well-maintained
In addition to positively trending financials, there is significant opportunity to complete a full mark-to-market on classic unit rents. This requires only light upgrades, as classic units are extremely clean and well maintained — providing immediate upside for new ownership.
FEATURES & FINISHES
LOCATION
Parlmont Park Apartments has direct access to major routes including I-95, I-495, and Route 3. The Route 3 corridor and nearby highways make commuting easy to Boston, Cambridge, Lowell, and other employment centers. Residents also enjoy easy access to local bus routes, along with nearby Commuter Rail connections providing frequent service into Boston.
±120K
Route 3 VPD
I-95/I-495
Highway Access
< 2 mi
MBTA Commuter Rail
336
Parking Spaces
Walmart, Hannaford, Panera, Dunkin'
Market Basket, Kohl's, TJ Maxx, Stop & Shop
Target, Five Below, Harbor Freight
Market Basket, Starbucks, Chipotle
INQUIRE NOW
Connect with our team to learn more about this generational 216-unit multifamily portfolio in Billerica, Massachusetts.
EXCLUSIVELY LISTED BY
Vice President | Multifamily | Boston, MA
License No. 9629105-RE-B (MA)
BROKER OF RECORD
Kyle Matthews
License No. 1000083-RE-RB (MA)
© 2026 Matthews Real Estate Investment Services