Billerica Apartment Complex Listed for First Time in 50 Years
Matthews has listed Parlmont Park Apartments, located at 10 Parlmont Park in Billerica, MA. An asking price was not disclosed. Exclusively listed by Matthews VP Nick Jasinski, the property comes to market for the first time in 50 years.
Parlmont Park Apartments presents a 100% market-rate opportunity within the North Billerica submarket, according to Matthews. Originally developed in the 1970s by the previous generation of the current ownership, the 216-unit apartment portfolio spans across nearly eight acres and features a mix of 50% two-bedroom, 43% one-bedroom and 7% studio apartments.
“The offering provides future ownership with an immensely unique opportunity to carry on the legacy of an asset that’s been impeccably managed by the family since its inception,” Jasinski said.
Located within Greater Boston’s I-495 corridor, the portfolio currently benefits from strong, positively trending historical performance, with potential for a new owner to implement light unit renovations over time, said Matthews.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout