Extremely Rare, Generational Multifamily Opportunity

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, all of which are 100% market-rate. The community features ample off-street parking, a dedicated management office with a garage, a community pool, and extensive exterior common areas.

Parlmont Park provides investors with immediate scale in the Greater Boston market within the I-495 corridor, a location where this size and historical ownership profile are exceedingly rare.

Favorable Unit Mix with Efficient Layouts

The property features an efficient and in-demand unit mix, consisting of 50% two-bedroom units (108 units), 43% one-bedroom units (93 units), and 7% studio units (15 units). This enhances leasing velocity and long-term occupancy stability.

Proven Historical Performance Trending Positively

The property has exhibited strong recent financial performance driven by both revenue growth and expense efficiencies, including a 9.6% year-over-year increase in total income (2024–2025), a 19.6% improvement in total expenses, and a 15.1% increase in net operating income. This positive trajectory provides a stable in-place foundation with clear runway for continued operational optimization under new ownership.

Strong Upside Through Continued Unit Upgrades

In addition to positively trending financials, there is an opportunity to complete a full mark-to-market on classic unit rents. This only requires light unit upgrades, as classic units are extremely clean and well maintained. See page 22 in OM for value-add breakdown.

Transit-Oriented Location North of Boston

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 by car 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 and convenient transit options into Boston.

Dynamic Renter Population

The broader Billerica area has a mix of professional households, families, and commuters who value suburban living with access to urban jobs. Steady population and household formation help sustain multifamily demand.