180 Shephard Ave
Newark City, NJ 07112
Price: $650,000
GSMLS: 4024882Type: 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
Three-family opportunity in Newark's Weequahic section with strong income and value-add potential. Featuring two 3-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, the property offers 8 bedrooms and 3 full baths, plus a full unfinished basement, separate gas and electric utilities, and off-street parking. Two units will be delivered vacant, offering flexibility for an owner-occupant looking to offset housing costs or an investor ready to lease and reposition the property. Projected market rents from recent appraisal are approximately $2,800/month for Unit 1, $2,800/month for Unit 2, and $2,000/month for Unit 3, for total potential gross rents of approximately $7,600/month. Unit 2 is currently leased at $1,650/month through October 2027. Cash, conventional, FHA, and FHA 203(k) buyers welcome, with an opportunity to update and reposition the property over time. Conveniently located near Weequahic Park, Newark Beth Israel Medical Center, Newark Liberty International Airport, major highways, and public transportation. Property is being sold as-is. Buyer to accept applicable temporary/conditional municipal certificates and responsibility for outstanding DCA items as required. Compliance reports available upon request. Don't miss out on this great opportunity!
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:
103
Listing Broker:
COMPASS NEW JERSEY LLC
Listing Agent:
Cynthia Lubin
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: BoulderRidgeNJ.com
