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$ 650,000
Est. payment /mo
Active
180 Shephard Ave Newark City, NJ 07112
8 Beds
3 Baths
3,920 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4024882
Style 3-Three Story
Bedrooms 8
Full Baths 3
Year Built 1923
Annual Tax Amount $6,934
Tax Year 2025
Lot Size 3,920 Sqft
Property Description
Secure your position in one of Newark's strongest rental markets before the market catches up. This 16-room, 3-family in the high-demand Weequahic section offers immediate cash flow, two vacant units for an owner-occupant or savvy investor, and a clear path to $6,500-$7,000 per month in gross rental income through modest updates and future lease turnover. Two units can be delivered vacant, allowing an owner-occupant to live in one while renting the other at market rate from day one, or an investor to stabilize both at current market rents. The second-floor unit provides stable in-place income with a tenant secured through October 2027, with rent repositioning potential upon lease expiration. Mortgage assumption at a below-market rate may be available, subject to lender approval, a rare financing advantage in today's rate environment. The Lionsgate Studios Newark campus, now under development, signals the South Ward's trajectory. Buyers who move now are purchasing ahead of that momentum. Features include separate utilities, a full unfinished basement with expansion potential, and convenient access to Weequahic Park, Newark Beth Israel Medical Center, Newark Liberty International Airport, major highways, and public transportation. Property sold as-is. Buyer responsible for Newark Certificate of Code Compliance and NJ DCA Green Card requirements.
Location
State NJ
County Essex
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features None
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
Elementary Schools G Carver
Middle Schools G Carver
High Schools Weequahic
Others
Senior Community No
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