Boston— Matthews has brought to market a 216-unit apartment community in the Greater Boston area, marking the first time the property has been offered for sale in five decades.
The property, Parlmont Park Apartments, is located in Billerica within the North Billerica submarket and is being exclusively listed by Vice President Nick Jasinski.
Originally developed in the 1970s, the nearly 8-acre portfolio has remained under the same family ownership since its inception. The community is comprised entirely of market-rate units, with a mix of approximately 50% two-bedroom, 43% one-bedroom, and 7% studio apartments.
“Our Matthews Boston office is profoundly honored to offer Parlmont Park Apartments for sale,” Jasinski said. “This is a unique opportunity for investors to carry forward a legacy asset that has been carefully managed for over 50 years.”
Situated along the I-495 corridor in Greater Boston, the property has demonstrated stable performance, with potential upside through light renovations and operational improvements, according to the listing firm.
Matthews said it is leveraging its national investor network and experience with generational asset sales to position the property for maximum value as it enters the market.
The offering is expected to attract interest from both regional and national investors seeking established multifamily assets in the competitive New England housing market.
