9-Unit Apartment
For Sale
$1,100,000
424 Trenton Rd, Browns Mills, NJ 08015
Fully occupied multifamily asset with renovated units, a new septic system, and a separate shell building with utilities in place.
Property Size6,000 SF
Price / SF$183.33
Days on Market217
Property Features for 424 Trenton Rd
General Information
Standard status
Active
Size
6,000 SF
Building Details
Year Built
1966
Listing Agency:
Keller Williams Real Estate-Langhorne
Listed By:
Lukasz Boczniewicz · License #1973582
(267) 679-1659
Source:
Kableteam
Added: Mar 13
Changed: Oct 9
Last Checked: Oct 7 at 2:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Real Estate-Langhorne
Investment Insights
Based on property information with market context.
Located at 424 Trenton Road in Browns Mills, this 9-unit multifamily property contains 6,000 square feet across a five-building residential layout. The unit mix includes two studios, four one-bedroom units, two two-bedroom units, and one three-bedroom main house. Seven units have been renovated, and the property is 100% occupied. A septic system installed in 2021 supports the operating buildings.
The property sits in a wooded setting within Pemberton Township and is zoned RESIDENTIAL. A sixth standalone structure is included in shell condition, with water, gas, and electric extended to the building. The structure is not connected to the newer septic system and is being conveyed as-is. It was formerly identified as four units in tax collector records, while any future use remains subject to township approvals for parking and septic. Built in 1966, the property also includes laundry facilities.
The property sits in a wooded setting within Pemberton Township and is zoned RESIDENTIAL. A sixth standalone structure is included in shell condition, with water, gas, and electric extended to the building. The structure is not connected to the newer septic system and is being conveyed as-is. It was formerly identified as four units in tax collector records, while any future use remains subject to township approvals for parking and septic. Built in 1966, the property also includes laundry facilities.
Key Highlights
- 9‑unit property is 100% occupied with a 7.58% Cap Rate on actuals
- Unit mix includes two studios, four 1‑bedroom units, two 2‑bedroom units, and one 3‑bedroom main house
- Five‑building layout totals 6,000 square feet and provides separate residential structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,586
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,571,720
$1.6M
Cap Rate 7%
$1,122,657
$1.1M
Cap Rate 9%
$873,178
$873.2K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$151.2K $25.20/SF
− Vacancy
−$8.3K −$1.39/SF
EGI
$142.9K $23.81/SF
− OpEx
−$64.3K −$10.72/SF
NOI
$78.6K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,571,720
Cap Rate 7%
$1,122,657
Cap Rate 9%
$873,178
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$982.3K – $1.31M
NOI $78,586 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.55M
$10.98M – $14.64M
NOI $878,422 @ 7.0% cap · market cap 79.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
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Business Placement
Demographics for 08015, NJ
19,691
Population
7,864
Households
2.5
Avg Household Size
40
Median Age
19%
College-Educated
87%
High-School Grad
56.2 sq mi
ZIP Area
350
Density / Sq Mi
$78,926
Median Household Income
$42,483
Median Earnings
$1,190
Median Rent
$215,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily asset with renovated units, a new septic system, and a separate shell building with utilities in place.
Where is this apartment building located?
The property is located at 424 Trenton Rd Browns Mills, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 9‑unit property is 100% occupied with a 7.58% Cap Rate on actuals; Unit mix includes two studios, four 1‑bedroom units, two 2‑bedroom units, and one 3‑bedroom main house; Five‑building layout totals 6,000 square feet and provides separate residential structures
