180 Shephard Ave, Newark City, NJ 07112

• 8 beds |
• 3 baths

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 11, 2026 @ 5 PM.

Listing Status:

Active

Data Last Updated:

May 10, 2026 at 6:40AM

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