180 Shephard Ave, Newark City, NJ 07112

• 8 beds |
• 3 baths

Property 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.

Listing Status:

Active

Data Last Updated:

August 9, 2026 at 12:40PM

Listing Office:

COMPASS NEW JERSEY LLC : 973-310-7360

MLS ID:

4024882

Interior

• Basement: Unfinished
• A/C: Window A/C(s)
• Heating: Baseboard - HotwaterGas-Natural

Exterior

• General: Vinyl Siding
• Parking: Parking spaces: 4

Construction

• Roofing: Asphalt Shingle

Location

• County: Essex

Lot

• Driveway: 1 Car WidthDriveway-ExclusiveOff-Street Parking
• Zoning: 1614-03664-0000-00035-0000-

Utilities

• Utilities: Gas-Natural
• Water: Public Water
• Sewer: Public Sewer

Financial

• Exclusions: Personal Items