2 Property Investment Portfolio FOR SALE


Rahway, NJ
$1,650,000 USD
908-507-4263
, Rahway, NJ for Sale
$1,650,000 USD
FOR SALE
1/2
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2 Property Investment Portfolio
Rahway, NJ


HIGHLIGHTS

  • Brand New Hot Water Heaters
  • Within Walking Distance to Rahway NJ Transit Line (No Jersey East Coast Line)
  • Water Bill for Both Properties - $3,600 Per Year
  • Taxes Per Year - $21,000

OVERVIEW

Portfolio sale includes 428-434 W Grand Avenue & 1689 Oliver Street in Rahway, NJ. The property at 428-434 W Grand Ave includes both apartment rentals and storefronts. On the second floor, there are three apartment units: Unit 428, a 1-bedroom unit renting for $1,075 per month; Unit 430, a 3-bedroom unit available on a month-to-month lease for $1,800 per month; and Unit 434, an owner-occupied 1-bedroom unit with an estimated rental value of $1,200 per month. The first floor features two storefronts: Unit 428, a 300-square-foot space currently leased to a skincare business at $755 per month on a month-to-month basis, and Unit 434, a vacant restaurant space with a kitchen. The former tenant of Unit 434 was paying $2,000 per month, with the new estimated rental rate set at $2,500 per month. The property at 1689 Oliver St is a fully occupied two-unit building situated on a 0.1327-acre lot. The first-floor unit, a 1-bedroom apartment, is rented for $1,336 per month with a lease through September 2025. The second-floor unit, also a 1-bedroom, is rented for $1,400 per month on a month-to-month lease. The landlord covers the heating costs for both units, which amounts to $900 per year, as there is a single furnace servicing both apartments. The total rental income for the property is $2,736 per month, or $32,832 annually.

ASK ABOUT THIS PROPERTY

Anthony MircovichBussel RealtyMore Info
908-507-4263

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Anthony MircovichBussel RealtyMore Info
908-507-4263

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