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388 Union St
Rahway, NJ 07065
Multifamily Property For Sale
·
12 Units
Investment Highlights
- Building consists of twelve ±790 SF one bedroom, one bathroom apartments
- Most apartments renovated with new bathrooms, kitchens and granite countertops
- All units have both a front entrance and rear terrace
- New appliances. Newly paved parking lot.
- Recent renovations make upgraded units easy to turn over.
- Laundry facility and individual storage spaces on premise.
Executive Summary
Attractive, fully leased ±9,478 SF brick-faced apartment building situated on ±0.32 acres. Property features 12 well-maintained residential units. Centrally located in Rahway and close to major highways, including Routes 1, 9, 27, the Garden State Parkway and less than a 1/2 mile to the Rahway Train Station and performing arts district. Within walking distance of shopping and Rahway River Park. Rahway offers various attractions like the Union County Performing Arts Center, the Rahway Public Library, and numerous art galleries and restaurants. Value-Add Investment Sale!
Quiet neighborhood with onsite and offsite parking. Tenants pay all utilities, except for water. Property tax $34,452 (2025)
Quiet neighborhood with onsite and offsite parking. Tenants pay all utilities, except for water. Property tax $34,452 (2025)
Property Facts
| Price Per Unit | $318,978 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 6.01% | Building Size | 9,478 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1998 |
| Apartment Style | Low-Rise | Parking Ratio | 1.27/1,000 SF |
| Zoning | N/A | ||
| Price Per Unit | $318,978 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 9,478 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1998 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | N/A |
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 |
|---|---|---|---|
| 1+1 | 12 | - | - |
Property Taxes
| Parcel Number | 13-00216-0000-00014 | Improvements Assessment | $487,654 CAD |
| Land Assessment | $130,186 CAD | Total Assessment | $617,839 CAD |
Property Taxes
Parcel Number
13-00216-0000-00014
Land Assessment
$130,186 CAD
Improvements Assessment
$487,654 CAD
Total Assessment
$617,839 CAD
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