153 New Freedom Road

BERLIN, NJ 08009

$475,000 $2,002/Mo

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Overview

Bed

Bath

2,447

Sqft

0.91

Acre(Lot)

Description

INVESTMENT OPPORTUNITY! Add this income-producing triplex to your portfolio or take advantage of the opportunity to live in one unit while generating rental income from the other two. The property consists of three residential units: two spacious 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. Based on estimated market rents, each 2-bedroom unit has the potential to generate approximately $1,500 per month, while the 1-bedroom unit is estimated at approximately $1,000 per month. At full occupancy and projected rents, the property could generate approximately $4,000 per month or $48,000 annually in gross rental income. Estimated annual expenses provided by the owner include $9,138 in property taxes, $2,376 in insurance, and approximately $2,376 in maintenance, for total st ated annual expenses of approximately $13,890. Based on these figures, projected Net Operating Income is approximately $34,110 annually. If the two additional lots are sold for $125,000 each, the total projected land-sale proceeds would be $250,000.Based on the stated NOI of $34,110, the resulting effective capitalization rate would be approximately 17.1%.For reference, without accounting for potential lot-sale proceeds, the property offers an approximate 7.6% capitalization rate.In addition to the existing triplex and rental income potential, the property presents a development opportunity. Subject to municipal approvals, zoning, subdivision requirements, and all applicable permits, the lot may offer potential for the creation and sale of two additional building lots at an estimated $125,000 each, providing an opportunity for future development or added value. Whether you’re an experienced investor looking to expand your portfolio, an owner-occupant seeking to offset housing costs with rental income, or a developer looking for additional land potential, this property offers multiple possibilities.Three existing units, multiple income streams, an estimated 7.6% cap rate based on the full purchase price, and a potential effective 17.1% cap rate after the estimated sale of two additional lots make this an opportunity worth a closer look. Schedule your private showing and explore the possibilities for yourself. All rental amounts, income, expenses, cap rate calculations, lot values, development potential, and financial projections are estimates only and should be independently verified by the buyer. Any subdivision or development opportunity is subject to municipal approval, zoning requirements, permitting, engineering, and other applicable regulations. The projected effective capitalization rate does not account for selling costs, taxes, financing costs, closing expenses, or other transaction-related expenses.

Property Details

Property Type : Residential Income

Price : $475,000

AD Id : 91101535

MLS Id : NJCD2126414

Beds : 5

Lot Size : 0.91 Acre

Living Area Size : 2,447

Tax Amount : 9138.00

Year Built : 1950

County : CAMDEN

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 5
Roofing Information

Shingle
Interior Features

Roof: Shingle Appliances: Gas Water Heater
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Radiant Cooling: None

Building Information

Year Built: 1950 Building Area Total: 2447 Construction Materials: Stucco Pool Features: None Private Pool: No

Lot Information

Lot Size Acres: 0.91 Lot Size Source: Estimated Lot Size Square Feet: 39640

Listing Price Information

Listing Price: $475000

Tax Information

Parcel Number: 05-02100-00003 Tax Lot: 00003 Tax Year: 2025 Annual Tax: $9138

Parking Information

Parking Total: 6 Driveway

School Information

Elementary School: BERLIN COMMUNITY E.S.

Junior High School: BERLIN COMMUNITY SCHOOL

Senior High School: EASTERN H.S.
Utility Information

Cable Available
Location Information

Direction: gps WaterSource: Public

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ByOwner last updated this listing 09/15/2026 @ 02:26

MLS: NJCD2126414 LISTED BY: Stephen Clyde, LPT Realty, LLC 856-478-6562 SOURCE: Bright MLS