Multi-Family $ 650,000

180 Shephard Ave

Newark City, NJ 07112

  • 8 Beds
  • 3 Baths
    Full Baths: 3
  • 3,920 Lot Size
  • 1923 Year Built
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.
Listed by COMPASS NEW JERSEY LLC

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Listing Status Under Contract

    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

  • Location

    State NJ

    County Essex

  • Rooms

    Basement Unfinished

  • Building

    Sewer Public Sewer

    Water Public Water

    Architectural Style 3-Three Story

  • 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

  • Schools

    Elementary Schools G Carver

    Middle Schools G Carver

    High Schools Weequahic

  • Others

    Senior Community No

SIMILAR HOMES FOR SALE

Check for similar Multi-Familys at price around $650,000 in Newark City,NJ

CONTACT

Cynthia Lubin, Assoc. Broker - NJ & NY
Cynthia Lubin, Assoc. Broker - NJ & NY

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