56
Units
2009
Year Built
Property Snapshot
96%*
Occupancy
*As of the 9/24/2026 rent roll
12 Units at 50% of AMI
AFFORDABILITY
1,088 SF
Average Unit SF
60,919 SF
Total Rentable SF
1.46 Acres
Site Size (acres)
44 Garage Spaces 68 Surface Spaces Parking Ratio: 2.00
Parking (# spaces / ratio)
Executive Summary
Berkadia has been exclusively retained to sell Village Green Apartments, a 56-unit, 2009-vintage community located at 1535 Main Street in Tewksbury, Massachusetts. Positioned near the convergence of I-93, I-495, Route 3, and Route 128, the property offers residents convenient access to Boston, Lowell, Burlington, Woburn, Andover, and the broader Merrimack Valley.
Village Green’s 44 market-rate units have never undergone a comprehensive interior renovation. In-place rents currently trail Tewksbury’s leading Class-A communities by 18%+ on one-bedroom units and 13%+ on two-bedroom units. New ownership can capture that spread by introducing a consistent finish package across all market-rate units, including quartz countertops, stainless-steel appliances, wood-style flooring, and updated lighting and fixtures.
Demand is reinforced by three MBTA Commuter Rail stations (Wilmington, North Wilmington, and Ballardvale), each within a 12-minute drive of the property. Supply is constrained: there are no multifamily units under construction or approved in Tewksbury. The town also sits above its Chapter 40B Subsidized Housing Inventory threshold, which limits future development.
Village Green offers investors a 96%-occupied, well-located asset with a clear, executable path to rent growth.
Investment Highlights
2009-Vintage Asset with Value-Add Upside
Built in 2009 with minimal unit renovations completed to-date, Village Green presents an exceptional value-add investment opportunity to capture substantial rent upside through modernizing all market rate units at the property. Current ownership has completed several common area improvements including upgraded carpeting throughout the hallways and third-floor lounge space, as well as upgraded painting.
Spacious Amenity Package for Boutique Asset, Ripe for Renovation Upside
The property features a spacious amenity package for an asset of this size that has received minimal improvements to-date, presenting new ownership with a meaningful opportunity for further value creation.
Strong Spread to Submarket Comps Supports Future Rent Growth Potential
The in-place rent spread between Village Green and Tewksbury’s Class-A properties is 18% + on 1 BR units and 13% + on 2 BR units.
Strategic North Suburban Boston Location with Access to Diverse Employment Centers
Village Green is strategically positioned near the convergence of I-93, I-495, Route 3, and Route 128/I-95, providing residents with convenient access to Boston’s north suburban office, technology, and life-science employment base.
30-Minute Train Ride to Downtown Boston
Three MBTA Commuter Rail stations are within a 12-minute drive of the property, with Wilmington Station offering a direct ride to North Station in approximately 30 minutes.
Rent vs. Own – Homeownership is a Significant Premium to Renting in Quality Market
Owning in Tewksbury is an 83% cost premium to renting at Village Green.
High Barriers to Entry Insulating Long-Term Rent Growth
Zero multifamily units under construction or approved in the Tewksbury pipeline going forward.
Quaint Town with an Array of Local Area Amenities & Conveniences
The property is surrounded by an extensive mix of daily needs retail, grocery options, dining, healthcare services, and recreation, providing residents with exceptional convenience while maintaining the charm of an established town setting.
Photo Gallery
Contact
Investment Sales
KEVIN GLEASON
Senior Managing Director
508.523.7780
[email protected]
MA RE Salesperson Lic #9528960
BRENDAN SHIELDS
Senior Managing Director
508.737.5375
[email protected]
MA RE Salesperson Lic #9508993
MAGGIE MCFARLAND
Director
617.895.8309
[email protected]
MA RE Salesperson Lic #9532933
Mortgage Banking
MATTHEW ROBBINS
Managing Director
561.609.4008
[email protected]
JACKIE MEAGHER
Senior Director
781.990.0159
[email protected]
SEAN DALY
Associate Director
781.990.1748
[email protected]
Office
BOSTON OFFICE
125 High Street, Suite 1712
Boston, MA 02110
1535 Main Street, Tewksbury, MA
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