BEDS8
BATHS3 full
MLS#4024882
STATUS
PROPERTY TYPEMulti Unit - Multiple
Property Description
Excellent cash flow opportunity in Newark's high-demand Weequahic section. This 16-room, 3-family residence offers immediate income potential with clear built-in upside for a buyer ready to update and reposition. Two units can be delivered vacant, providing flexibility to owner-occupy while maximizing rental income. The second floor offers stable income with a tenant in place through October 2027, along with a near-term opportunity to reposition rents to market. With minimal updates and lease turnover, projected gross rents range from $6,500 to $7,000 per month. There may also be an opportunity to assume the existing mortgage and secure a more favorable interest rate than current market conditions, subject to lender approval, adding an additional layer of financial advantage for the next owner. Separate utilities, full unfinished basement, and a location that checks every box: Weequahic Park, Beth Israel Medical Center, and Newark Liberty International Airport all nearby with easy access to major transit routes. Please note: Sold as-is. Buyer responsible for Newark Certificate of Code Compliance and DCA Green Card. Final & Best Offers Due Monday, May 8, 2026 @ 5 PM.
Property Features
Property Type: Multi Unit - Multiple
Basement: Unfinished
Basement: Yes
Cooling: Window A/C(s)
Fuel Type: Gas-Natural
Heating: Baseboard - Hotwater
Lot Size: 0.09 Acres
Roof Type: Asphalt Shingle
Taxes: $6,934
Year Built: 1923
Feature Descriptions
Days on Site: 4
Driveway: 1 Car Width, Driveway-Exclusive, Off-Street Parking
Exterior: Vinyl Siding
Lot Dimensions: 0.09 acre(s)
Parking Notes: None
Sewer: Public Sewer
Utilities: Gas-Natural
Water: Public Water
Local Schools
High School: WEEQUAHIC
Middle School: G CARVER
Elementary School: G CARVER
Listed By / Shown By
Listed By
Agency Name: COMPASS NEW JERSEY LLC
Agency Contact: 551-200-7590
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 2,214.03 per month $1,446.62 Principal & Interest $577.83 Property Tax $189.58 Homeowner's InsuranceChange Payment Information
180 Shephard Ave | MLS# 4024882
This multi-family property located at 180 Shephard Ave, Newark, NJ 07112 is currently listed for sale with an asking price of $650,000. Search Newark real estate on www.realtymark.net today.