Totally Updated Legal 3-Family Investment Opportunity! This fully renovated and legally 3-family property offers an exceptional opportunity for both investors and owner-occupants. Featuring spacious units, a walk-out basement, ample off-street parking, and a large oversized garage, this property combines functionality with strong income potential. Conveniently located near major highways, Newark Liberty International Airport, public transportation, shopping, dining, and other everyday amenities, it provides easy access for commuters and tenants alike. Whether you're looking to expand your portfolio or live in one unit while generating rental income from the others, this versatile property is one you won't want to miss.
Under contract
$700,000
83 Sherman Ave, Newark City, NJ 07114
8beds
--sqft
Multi Family
Built in 1917
-- sqft lot
$728,600 Zestimate®
$--/sqft
$-- HOA
What's special
Ample off-street parkingLarge oversized garageFully renovatedWalk-out basementSpacious units
- 42 days |
- 137 |
- 0 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Brendan Dasilva 973-783-7400,
Keller Williams - Nj Metro Group
Source: GSMLS,MLS#: 4031873
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: See Remarks
Features
- Bedrooms, Dining Room, Kitchen, Living Room
- Basement: Yes,Finished
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 4
- Parking features: Driveway-Exclusive, Detached Garage
- Garage spaces: 2
- Uncovered spaces: 4
Lot
- Size: 3,920 Square Feet
- Dimensions: 33 x 112.6
Details
- Parcel number: 1614028030000000270000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Roof: See Remarks
Condition
- Year built: 1917
Utilities & green energy
- Gas: Gas-Natural
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Natural Gas Connected
Community & HOA
Location
- Region: Newark
Financial & listing details
- Tax assessed value: $197,900
- Annual tax amount: $7,914
- Date on market: 6/3/2026
- Total actual rent: 0
- Tenant pays: Electricity, Gas, Tenant Pays Heat, Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Water
Estimated market value
$728,600
$692,000 - $765,000
$2,146/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/16/2026 | Pending sale | $700,000 |
Source:  GSMLS #4031873 Report a problem | ||
| 6/3/2026 | Listed for sale | $700,000+60.9% |
Source: GSMLS #4031873 Report a problem | ||
| 11/24/2025 | Sold | $435,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,914 +5.2% | $197,900 |
| 2024 | $7,526 +0.1% | $197,900 |
| 2023 | $7,520 | $197,900 |
| 2022 | $7,520 | $197,900 |
| 2021 | $7,520 +1% | $197,900 |
| 2020 | $7,443 +39.8% | $197,900 |
| 2019 | $5,323 | $197,900 |
| 2018 | $5,323 -21.8% | $197,900 |
| 2017 | $6,808 +4% | $197,900 |
| 2016 | $6,549 +6.7% | $197,900 |
| 2015 | $6,137 +5% | $197,900 |
| 2014 | $5,844 +13.6% | $197,900 |
| 2013 | $5,143 +3.7% | $197,900 +32.8% |
| 2012 | $4,959 +4.7% | $149,000 |
| 2011 | $4,738 +16.1% | $149,000 |
| 2010 | $4,081 +5.4% | $149,000 |
| 2009 | $3,873 +4.4% | $149,000 |
| 2008 | $3,710 | $149,000 |
| 2007 | $3,710 | $149,000 |
| 2006 | -- | $149,000 |
| 2005 | -- | $149,000 |
| 2004 | $3,218 | $149,000 |
| 2003 | -- | $149,000 +1267% |
| 2002 | -- | $10,900 |
| 2001 | -- | $10,900 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: South Broad Street
Nearby schools
GreatSchools rating
- 6/10Louise A. Spencer Elementary SchoolGrades: PK-8Distance: 0.2 mi
- 1/10Malcolm X Shabazz High SchoolGrades: 9-12Distance: 0.4 mi
- 1/10Central High SchoolGrades: 9-12Distance: 0.7 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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