2,447 SqFt
2,447 SqFt
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,447 sqft
Price per Sqft $214
MLS Listing ID NJCD2117316
Style Other
Abv Grd Liv Area 2,447
Year Built 1950
Available Date 2026-05-22
Annual Tax Amount $9,138
Tax Year 2025
Lot Size 0.910 Acres
Acres 0.91
Lot Dimensions 99 x 400
Property Sub-Type Detached
Source BRIGHT
Property Description
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!
Location
State NJ
County Camden
Area Berlin Boro (20405)
Zoning R-1
Rooms
Basement Full, Outside Entrance, Unfinished
Interior
Interior Features Ceiling Fan(s)
Hot Water Natural Gas
Heating Radiator
Cooling Wall Unit
Flooring Fully Carpeted, Vinyl, Wood
Inclusions Refrigerator. Stove
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Water Access N
Roof Type Shingle
Accessibility None
Total Parking Spaces 6
Garage N
Building
Lot Description Front Yard
Foundation Other
Above Ground Finished SqFt 2447
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
Elementary Schools Berlin Community E.S.
Middle Schools Berlin Community School
High Schools Eastern H.S.
School District Berlin Borough Public Schools
Others
Tax ID 05-02100-00003
Ownership Fee Simple
SqFt Source 2447
Acceptable Financing Cash, Conventional, FHA 203(b), FHA 203(k), VA, Other
Listing Terms Cash, Conventional, FHA 203(b), FHA 203(k), VA, Other
Financing Cash,Conventional,FHA 203(b),FHA 203(k),VA,Other
Special Listing Condition Standard
Nearby Locations
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