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About the Listing LPT11 - 3124843
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 stated 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.
Listing Highlights
Status
Active
Days on Site
13
Property Type
Multi-Family
MLS ®
NJCD2126414
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:
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2447
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Parking Spaces: 6
- Zoning: R1
- Roof: Shingle
- Others: Average
- Sewer: Public Septic
- 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
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Questions About..
153 New Freedom Rd Berlin, NJ 08009
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