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!
Berlin is located in New Jersey. Berlin, New Jersey has a population of 7,484. Berlin is more family-centric than the surrounding county with 31.41% of the households containing married families with children. The county average for households married with children is 28.19%.
The median household income in Berlin, New Jersey is $103,634. The median household income for the surrounding county is $75,485 compared to the national median of $69,021. The median age of people living in Berlin is 41.7 years.
The average high temperature in July is 86.4 degrees, with an average low temperature in January of 22.4 degrees. The average rainfall is approximately 46.4 inches per year, with 14.3 inches of snow per year.
