Fully Occupied 12-Unit Apartment Building with Value-Add Potential

388-398 Union Street, Rahway, NJ 07065

Accepting Offers
Fully Occupied 12-Unit Apartment Building with Value-Add PotentialFully Occupied 12-Unit Apartment Building with Value-Add PotentialFully Occupied 12-Unit Apartment Building with Value-Add PotentialFully Occupied 12-Unit Apartment Building with Value-Add Potential
Asking Price

$2,800,000

Fully Occupied 12-Unit Apartment Building with Value-Add Potential

388-398 Union Street, Rahway, NJ 07065

Details

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Asset Type: Real Estate

Estate: Fee Simple

Year Built: 1968

Number of Units: 12

Property Type: Multifamily

Occupancy %: 100

Number of Floors: 2

Property Size: 9,480 SF

Investment Highlights

  • Building consists of twelve ±790 SF one bedroom, one bathroom apartments
  • New appliances
  • Most apartments renovated with new bathrooms, kitchens and granite countertops
  • Recent renovations make upgraded units easy to turn over
  • All units have both a front entrance and rear terrace
  • Laundry facility and individual storage spaces on premise
  • Newly paved parking lot
  • Quiet neighborhood with onsite and offsite parking
  • Tenants pay all utilities, except for water
  • Property tax $35,404 (2025)
  • Owners are NJ Licensed Real Estate Brokers

Fully Occupied 12-Unit Apartment Building with Value-Add Potential

Attractive, fully leased ±9,478 SF brick-faced apartment building situated on ±0.32 acres. Property features 12 well-maintained residential units.

Sale FAQs

Investment Sales Broker

Douglas Sitar

Douglas Sitar

Sitar Realty Company

Phone: XXXXXXXXXX

Email: XXXXXXXXXXXXXXXXXXXXXXX

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