23
See all 23 photos
$650,000
Est. payment /mo
8 Beds
3 Baths
3,920 Sqft Lot
Active
180 Shephard Ave Newark City, NJ 07112
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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
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!
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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Listed by COMPASS NEW JERSEY LLC
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