388 Union St - Apartments FOR SALE


Rahway, NJ 07065
$3,000,000 USD
732-283-9000
388 Union St, Rahway, NJ for Sale
$3,000,000 USD
Apartments - FOR SALE
1/6
null | 6.06% Cap Rate

388 Union St
Rahway, NJ 07065


HIGHLIGHTS

  • Building consists of twelve ±790 SF one bedroom, one bathroom apartments
  • New appliances. Newly paved parking lot.
  • 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.

OVERVIEW

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. Quiet neighborhood with onsite and offsite parking. Tenants pay all utilities, except for water. Property tax $34,452 (2025)

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$317 USD /SF

# OF UNITS

12

PRICE/UNIT

$250,000

CAP RATE

6.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1998

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,307 SF

ZONING

N/A

APN/PARCEL ID

13-00216-0000-00014

ASK ABOUT THIS PROPERTY

Douglas SitarSitar Realty CompanyMore Info
732-283-9000

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Douglas SitarSitar Realty CompanyMore Info
732-283-9000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.