Luxury Duplex with Basement
1501 Berkowitz Avenue Lakewood, NJ 08701
1501 Berkowitz Avenue, Lakewood, NJ, 08701
$1,599,000
For Sale
$1,599,000
SINGLE_FAMILY - Other - Lakewood, NJ
Property Size3,400 SF
Lot Size0.22 Acres
Price / SF$470.29
Days on Market24
Property Features for 1501 Berkowitz Avenue
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bathroom 2, Basement, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1
- Basement
- Finished, Full
- Standard status
- Active
- APN
- 15-00104-02-00016
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8628
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned
- Cooling system
- Zoned
- Water source
- Public
Building Details
- Floors in Building
- 2
- Architectural style
- Other
Listing Agency
Imperial Real Estate Agency
(732) 905-5511
212 Second Street Suite 405, Lakewood, NJ
Listed by
Herman Zorger
(732) 905-5511
Added: Jun 25 Checked: Jul 18 at 4:06 pm
MLS# 22619314
Listing URL
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1501 Berkowitz Avenue in Lakewood, this brand-new duplex presents nearly 3,400 square feet of living space with five bedrooms plus a nursery and four bathrooms. The home includes a chef’s kitchen and bright, open living areas designed for everyday living and entertaining.
A key feature of the property is the inclusion of two private basement apartments, providing separate, self-contained living space within the duplex. This configuration supports flexible use, including rental income opportunities or accommodating extended family arrangements.
Overall, the layout combines primary living space with dedicated basement apartments, offering a multi-unit residential income structure in a duplex format.
A key feature of the property is the inclusion of two private basement apartments, providing separate, self-contained living space within the duplex. This configuration supports flexible use, including rental income opportunities or accommodating extended family arrangements.
Overall, the layout combines primary living space with dedicated basement apartments, offering a multi-unit residential income structure in a duplex format.
Key Highlights
- Under construction luxury duplex at 1501 Berkowitz Avenue with nearly 3,400 sq ft of living space
- 5 bedrooms plus a nursery and 4 bathrooms, including Bathrooms 1–4
- Chef’s kitchen with premium cabinetry and upscale finishes
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.9k | $25.56 |
| − Vacancy | −$5.6k | −$1.65 |
| EGI | $81.3k | $23.91 |
| − OpEx | −$24.4k | −$7.17 |
| NOI | $56.9k | $16.74 |
3,400 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$812.9K
$711.3K – $948.4K
NOI $56,903 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$746.9K
$653.6K – $871.4K
NOI $52,285 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$887.8K
$776.8K – $1.04M
NOI $62,147 @ 7.0% cap · market cap 3.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex at 1501 Berkowitz Avenue offering two private basement apartments, five bedrooms plus nursery, and four bathrooms.
Where is this duplex located?
The property is located at 1501 Berkowitz Avenue Lakewood, NJ.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Under construction luxury duplex at 1501 Berkowitz Avenue with nearly 3,400 sq ft of living space; 5 bedrooms plus a nursery and 4 bathrooms, including Bathrooms 1–4; Chef’s kitchen with premium cabinetry and upscale finishes
