Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $5.6 million sale of the Elizabeth Court Apartments, a 26-unit multifamily property located in Attleboro, Massachusetts.
“Elizabeth Court was a unique value-add opportunity, as the apartments and
property were well maintained by the sellers, yet their rents were significantly below market. The buyer can drastically increase income with minimal capital investment through a more aggressive management strategy,” said Tony Pepdjonovic, senior managing director. “We were also able to achieve full asking price with no contingencies, showing how strong the market fundamentals remain in the suburbs,” added Evan Griffith, senior managing director.
The asset, built in 1976, is located on Elizabeth and State Street encompassing 1.14 acres in the downtown area of Attleboro. The unit mix consists of 20 two-bedroom apartments
and six one-bedroom apartments, along with 32 off-street parking spaces. Elizabeth court is conveniently located near Interstate-95 and within walking distance of the MBTA Attleboro Station, Capron Park, and downtown retail and dining.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
