180 Shephard Ave

Newark City, NJ 07112


 

Price: $650,000

GSMLS:  4024882
Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 8
Baths: 3 Full
Garage: No
Year Built: 1923
Acres: 0.09
Property Tax: $6,934
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.
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
16
Basement:
Yes - Unfinished
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
Vinyl Siding
Lot Size:
40X100
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
None
Parking:
1 Car Width, Driveway-Exclusive, Off-Street Parking
Spaces Available:
4
Unit 1
Bedrooms:
3
Bathrooms:
1
Total Rooms:
6
Room Description:
Bedrooms, Den, Eat-In Kitchen, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
3
Bathrooms:
1
Total Rooms:
6
Room Description:
Bedrooms, Den, Eat-In Kitchen, Living/Dining Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Kitchen, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
Baseboard - Hotwater
Heating Fuel:
Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Gas-Natural
Services:
Cable TV Available
School Information
Elementary:
G CARVER
Middle:
G CARVER
High School:
WEEQUAHIC
Community Information
County:
Essex
Town:
Newark City
Neighborhood:
n/a
Financial Considerations
List Price:
$650,000
Tax Amount:
$6,934
Land Assessment:
$29,400
Build. Assessment:
$144,000
Total Assessment:
$173,400
Tax Rate:
4.00
Tax Year:
2025
Listing Information
MLS ID:
4024882
List Date:
05-02-2026
Days On Market:
16
Listing Broker:
COMPASS NEW JERSEY LLC
Listing Agent:
Cynthia Lubin
 

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Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: WillowWalkCondos.com


RE/MAX

Town & Valley II

211 Route 10 East
Succasunna, NJ 07876
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Shawn and Diane Fox