Marcus & Millichap arranged the sale of Elizabeth Court Apartments. The 26-unit, 1970s-era property sold for $5.6 million.

Located in Attleboro on Elizabeth and State streets, Elizabeth Court features 20 two-bedroom apartments and six one-bedroom apartments, along with 32 off-street parking spaces.

Those involved with the transaction note the property’s income potential.

“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,” said Marcus & Millichap senior managing director Tony Pepdjonovic in a press release. “The buyer can drastically increase income with minimal capital investment through a more aggressive management strategy.”

“We were also able to achieve full asking price with no contingencies, showing how strong the market fundamentals remain in the suburbs,” added senior managing director Evan Griffith.

Marcus and Millichap has not released the identity of the asset’s buyer.