Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Remodeled Multi-Family Investment Property Title is generated by Realmo AI

    1599 Oliver St, Rahway, NJ 07065

    View on Map
    Claim this Listing
    For Sale
    $1,400,000

    Multi-Family, 2-Two Story - Rahway City, NJ

    Lot size:
    0.10 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    52
    Last Refresh:
    May 9 at 6:06 am

    Property Features for 1599 Oliver St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
    Parking
    4
    Interior features
    Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
    Exterior features
    Sidewalk, Storm Door(s), Storm Window(s)
    Basement Y/N
    1
    Appliances
    Oven - Gas, Range
    Standard status
    Active
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    16760

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1960
    Number of units
    4
    Building materials
    Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    EDWARD KEFALAS

    Listing agent EDWARD KEFALAS

    Listing office CENTURY 21 ALLIANCE REALTY 867 NORTH STILES STREET, Linden, NJ

    Listing date Mar 19, 2026

    MLS# 4015903 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully rented 4‑family brick building, providing immediate income.
    • Completely remodeled with updated kitchens, bedrooms, and baths.
    • Extensive remodeling with top‑of‑the‑line materials and craftsmanship.
    • Ample off‑street parking with long driveways.
    • Mix of 2‑bedroom and 1‑bedroom apartments.
    • Basement included.

    Overview

    This is a fully rented, all-brick four-family investment property featuring quality tenants. The building has been completely remodeled, with updated kitchens, bedrooms, and baths. The upstairs apartments feature two bedrooms, while the other units have one bedroom each. The property includes off-street parking with long driveways. All four units have undergone extensive remodeling using high-end materials and craftsmanship and is located in Rahway City, New Jersey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rahway
    County
    Union
    State
    New Jersey
    Longitude
    -74.28009
    Latitude
    40.61264

    Nearby Similar for Sale

    • $649,900

      Rahway City Duplex For Sale

      Duplex near shopping, dining, and amenities with a large backyard.
      1922 Barnett St, Rahway City, NJ 07065-5702
      View Details
    • $699,000

      Updated Duplex Near Downtown Rahway

      Updated side-by-side duplex with finished basements and private backyards.
      1652-54 Park St, Rahway City, NJ 07065-5208
      View Details
    • $629,900

      Rahway City Two-Family Home

      Well-maintained two-family home with spacious units in desirable Rahway location.
      743 Audrey Dr, Rahway City, NJ 07065-3739
      View Details
    • $699,900

      Rahway City Two-Family Home

      Two-family home in Rahway City with expansion potential.
      196 E Grand Ave, Rahway City, NJ 07065-4508
      View Details
    • $815,000

      Renovated Multi-Family in Rahway City

      Move-in ready, renovated two-family property near public transit.
      132 Oak St, Rahway City, NJ 07065-3021
      View Details
    • $785,000

      Rahway City Triplex Opportunity

      Three-unit property near downtown Rahway with investment potential.
      1004 Jaques Ave, Rahway City, NJ 07065-3961
      View Details
    • $799,000

      Renovated Three-Family Home in Rahway

      Renovated three-family home with strong rental potential near amenities.
      380 Seminary Ave, Rahway City, NJ 07065-3471
      View Details
    • $859,000
      3,336 SF

      Rahway Triplex Investment Opportunity

      Tenant-occupied triplex with solid rental income near Rahway NJ Transit.
      1751 Oliver Street, Rahway, NJ 07065
      View Details
    • $850,000
      990 SF

      Renovated Repair Shop For Sale

      Strategically located, renovated repair shop with high traffic exposure.
      1066 Westfield Ave, Rahway City, NJ 07065
      View Details
    • $2,800,000
      9,478 SF

      Fully Leased Apartment Building

      Well-maintained 12-unit apartment building on 0.32 acres.
      388-398 Union Street | Rahway, NJ 07065
      View Details
    • $599,000

      Rahway Two-Family Near Train

      Well-maintained two-family near Rahway train station.
      84 W Cherry St, Rahway, NJ 07065-3240
      View Details
    • $649,900

      Rahway Turnkey 2-Family Investment

      Newly renovated 2-family property in Rahway, ideal for investors.
      763 Audrey Dr, Rahway, NJ 07065-3739
      View Details

    FAQs

    What type of property is this?
    Quadplex - Fully rented, remodeled four-family property in Rahway City, New Jersey.
    Where is this quadplex located?
    The property is located at 1599 Oliver St Rahway, NJ.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Fully rented 4‑family brick building, providing immediate income.; Completely remodeled with updated kitchens, bedrooms, and baths.; Extensive remodeling with top‑of‑the‑line materials and craftsmanship.
    (908) 587-5222
    We can help!
    Listing Contact
    EDWARD KEFALAS
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1599 Oliver St, Rahway City, NJ 07065-3425
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!