BEDS0
BATHS
SQUARE FEET2,447
MLS#NJCD2117316
STATUSACTIVE
PROPERTY TYPEMulti Unit - Multiple
SCHOOLBERLIN BOROUGH PUBLIC SCHOOLS
Property Description
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!
Property Features
Property Type: Multi Unit - Multiple
Basement: Full, Outside Entrance, Unfinished
Basement: Yes
Cooling: Wall Unit
Fuel Type: Natural Gas
Heating: Radiator
Lot Size: 0.91 Acres
Roof Type: Shingle
Taxes: $9,138
Year Built: 1950
Feature Descriptions
Additional Structures: Above Grade, Below Grade
Days on Site: 1
Exterior: Frame
Flooring: Wall to Wall Carpeting, Vinyl, Wood
Interior: Ceiling Fan(s)
Lot: Front Yard
Lot Dimensions: 0.91 Acre(S)
Municipality: BERLIN BORO
One Bedroom Units: 1
Sewer: Public Sewer
Structure Type: Detached
Total Garage/Parking Spaces: 6
Two Bedroom Units: 2
Units: 3
Water: Public
Local Schools
High School: EASTERN H.S.
Middle School: BERLIN COMMUNITY SCHOOL
Elementary School: BERLIN COMMUNITY E.S.
School District: BERLIN BOROUGH PUBLIC SCHOOLS
Listed By / Shown By
Listed By
Agency Name: LPT Realty, LLC
Agency Phone: 8564786562
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 2,083.05 per month $1,168.42 Principal & Interest $761.50 Property Tax $153.13 Homeowner's InsuranceChange Payment Information
153 New Freedom Road | MLS# NJCD2117316
This multi-family property located at 153 New Freedom Road , Berlin, NJ 08009 is currently listed for sale with an asking price of $525,000. New Freedom Road is located within the BERLIN BOROUGH PUBLIC SCHOOLS school district. Search Berlin real estate on www.realtymark.net today.