26-Unit Attleboro Multifamily Sells for $5.6M; Marcus & Millichap Brokers Exclusive Deal

​Attleboro — The Marcus & Millichap multifamily Group completed $5.6 million sale of the Elizabeth Court Apartments, a 26-unit multifamily property located in Attleboro, Massachusetts.

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 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.

Griffith and Pepdjonovic represented the seller and procured the buyer.  Elizabeth Court is conveniently located near Interstate-95 and within walking distance of the MBTA Attleboro Station, Capron Park, and downtown retail and dining.