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523 Lafayette Street, Cape May - ACTIVE

$795,000

MLS: 233122  |  Bedrooms: 2  |  Baths: 1  |  Type: Condo
Lot:  |  Taxes: $3,153  |  Area: Cape May

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!

AMENITIES

  • Range   
  • Microwave Oven   
  • Refrigerator   
  • Washer   
  • Dryer   
  • Dishwasher   
  • Disposal   
  • Living Room   
  • Kitchen   
  • Laundry/Utility Room   
  • Heating:Gas Natural   
  • Heating:Forced Air   
  • Heater:Gas  
  • Cooling:Central Air  
  • City  

PROPERTY LOCATION / MAP

Last Database Update: 02/23/2024 10:30:17
Let Ferguson Dechert be your buyer agent for this listing. Listing is provided by Tim Kerr Sotheby's International Realty. The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.
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523 Lafayette Street, Cape May
For Sale: $795,000
MLS: 233122

Bed:2 | Bath:1 LOT: | DOM:98
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Ferguson Dechert Real Estate - Summer Vacation Rentals and Properties For Sale in Avalon and Stone Harbor
2789 Dune Drive
Avalon, NJ
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609-967-4200
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