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

388-398 Union Street Rahway, NJ 07065

388-398 Union Street, Rahway, NJ, 07065
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$3,000,000
Last Verified:
Dec 03, 2025

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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 $34,452 (2025)
  • Owners are NJ Licensed Real Estate Brokers

Description

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.


Year Built: 1968
Building Size: 9480sq ft
Lot Size: 0 acres


Documents

Offering Memorandum 388-398 Union St, Rahway, NJ

Map of 388-398 Union Street, Rahway, NJ, 07065

Presented by:
Sitar Realty Company

Request additional information
Douglas Sitar


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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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