523 Lafayette Street 2, Cape May, NJ 08204 | MLS 233122 | Listing Information | Berkshire Hathaway HomeServices Fox & Roach, REALTORS | Berkshire Hathaway HomeServices Fox & Roach, REALTORS
FOR SALE
$795,000  

523 Lafayette Street 2
Cape May, NJ 08204

Condo
Residential
2
Beds
1
Baths
925
Sq. Ft.
N/A
Acre Lot
Courtesy: Tim Kerr Sotheby's International Realty
Welcome to 523 Lafayette Street, unit 2. With an unbeatable location, you will fall in love with this charming 2-bedroom, 1 bathroom condominium with a private rooftop deck. Located just 3 blocks to some of the best beaches on the East Coast, and steps from Cape May s outstanding Washington Street Mall, with a dozen plus world-class restaurants only footsteps away, this Condo places you directly in the center of Cape May. Perfect for year-round living, your beach getaway, or profitable vacation rental property. With 2 off street, reserved, stacked parking spots, parking is never a problem, and you will not have to feed the meters . Charming condo unit #2 is located on the second and third floors of a classic Victorian building. The outdoor stairs take you to the entrance where you will find a welcoming entry foyer with gleaming hardwood floors throughout the home. This floor includes your primary bedroom, modern renovated bathroom, and laundry. Continue into the sunny galley kitchen with new quartz counters and the living room with dining area. The top floor holds a large 2nd bedroom, and is where you will find your own private, rooftop deck - the perfect spot to enjoy morning coffee, catch some rays with your afternoon tea, and watch the sun go down while enjoying an evening beverage. Recent upgrades include a brand-new full HVAC system including furnace and compressor, a new natural gas tankless water heater, new quartz counters, refinished hardwood floors, even the deck is newly sealed. The condo has been recently repainted, and the entire building was repainted in 2022. This well-run Victorian building holds 3 units - one commercial and two residential. The condo fee is $2000 annually. Great rental history! 2023: Owner claimed $81,000 total rental income. Unit 2 has averaged $70,000 per year in rental income since 2018. According to Airbnb it is one of the top performing rentals in Cape May City averaging $799 per night in high season. Seller is participating in a 1031 tax exchange. Add this special property to your must-see list! Home is offered fully furnished, less artwork. Just bring your suitcase and enjoy Cape May!
233122
Condo, Other
2
Cape May
1 Full
1930
Public
Public Sewer
925 Sq. Ft.
Bathrooms
1
Total:1
Detailed Room Information
Laundry
Laundry Room
Kitchen
Dishwasher, Refrigerator, Microwave, Range, Disposal
Interior Features
Appliances
Dishwasher, Dryer, Refrigerator, Microwave, Range, Washer, Disposal
Heating
Gas Heat. Forced Air.
Exterior / Lot Features
Additional Exterior/Lot Features
Corner Lot.
Financial Considerations
$3,153
Courtesy: Tim Kerr Sotheby's International Realty
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