NEW! Buy and sell safely with virtual options - Learn More
About the Listing LPT11 - 3124843
Welcome to 53 New Freedom Road, an exceptional triplex located at the entrance of one of Berlin Borough's premier neighborhoods! This well-maintained property features **three distinct residential units**: two spacious **2-bedroom, 1-bath apartments** and a cozy **1-bedroom, 1-bath apartment**. Each unit is equipped with **separate utilities**, ensuring independence for residents. The property has undergone recent upgrades, including **brand new boilers and hot water heaters** installed within the last year, providing reliable comfort for all tenants. Each apartment has its own **private entrance** and designated **parking area**, maximizing both privacy and convenience. Situated on a generous **.91-acre lot**, this property not only offers an ideal multi-family living arrangement but also presents an enticing **subdividable potential**. The lot measures 99 feet deep from Chilemi Court and extends 400 feet along the same road, providing ample space for outdoor activities or future development opportunities. With an **annual rental income** of **$46,800** and **total operating expenses** of **$4,725**, the property boasts a strong **Net Operating Income (NOI)** of **$42,074.80**. This translates to an impressive **Capitalization Rate (Cap Rate)** of approximately **8.01%** and a **Return on Investment (ROI)** of **8.01%**, highlighting its strong cash flow potential. Additionally, the **Gross Rent Multiplier (GRM)** stands at **11.21**, indicating a favorable investment compared to local market standards. Located in a friendly community, 153 New Freedom Road offers easy access to local amenities, schools, and parks, while providing convenient transportation routes. This is a fantastic investment opportunity or a perfect multi-family living arrangement. Don’t miss your chance to own a property with endless potential in a sought-after location! Whether you're looking to maintain the current triplex model for rental income or explore future subdivision possibilities, this property is ready to deliver value now and into the future. Contact us today for more details!
Listing Highlights
Status
Active
Days on Site
1
Property Type
Multi-Family
MLS ®
NJCD2117316
Year Built
1950
Total Square Footage
2,447
Lot/Acreage
0.91
County
Camden
Area
Berlin Boro (20405)
School District
Berlin Borough Public Schools
Elementary School
Berlin Community E.S.
Middle School
Berlin Community School
High School
Eastern H.S.
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Wall Unit
- Heating: Radiator
- Fireplaces:
- Floor: Fully Carpeted,Vinyl,Wood
- Above Ground Sq Ft: 2447
- Below Ground Sq Ft: 0
- Basement: Full,Outside Entrance,Unfinished
- Other: Ceiling Fan(s)
- Water: Public
Exterior Details
- Lot Description: Front Yard,Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Parking Spaces: 6
- Lot Dimensions: 99 x 400
- Zoning: R-1
- Roof: Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: Driveway,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $9,138
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
153 New Freedom Rd Berlin, NJ 08009
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
