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132 Elm Ave 16 Unit Apartment Building For Sale Rahway, NJ 07065
Executive Summary
THE INVESTMENT: 132-134 Elm Avenue is a 16-unit multifamily investment property located in Rahway, NJ.
IDEAL UNIT MIX: 132 Elm has a strong unit mix with 1 three-bedroom and 15 two-bedroom apartments.
VALUE-ADD OPPORTUNITY: Potential to raise residential rents by 21% in a city with no adopted rent control ordinance.
UTILITY BREAKDOWN: The landlord pays common electric, water and sewer, and gas to heat the building. The tenant pays electric and cooking gas charges.
STRATEGIC LOCATION: Located blocks from the Rahway Train Station and downtown, which features desirable shopping and retail destinations.
IDEAL UNIT MIX: 132 Elm has a strong unit mix with 1 three-bedroom and 15 two-bedroom apartments.
VALUE-ADD OPPORTUNITY: Potential to raise residential rents by 21% in a city with no adopted rent control ordinance.
UTILITY BREAKDOWN: The landlord pays common electric, water and sewer, and gas to heat the building. The tenant pays electric and cooking gas charges.
STRATEGIC LOCATION: Located blocks from the Rahway Train Station and downtown, which features desirable shopping and retail destinations.
Property Facts
| Sale Type | Investment | Lot Size | 0.26 AC |
| No. Units | 16 | Building Size | 16,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1925/2022 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 16,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1925/2022 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 15 | - | - |
| 3+1 | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 13-00149-0000-00021 | Improvements Assessment | $306,493 CAD |
| Land Assessment | $177,919 CAD | Total Assessment | $484,412 CAD |
Property Taxes
Parcel Number
13-00149-0000-00021
Land Assessment
$177,919 CAD
Improvements Assessment
$306,493 CAD
Total Assessment
$484,412 CAD
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132 Elm Ave
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