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$ 900,000
Est. payment /mo
New
523 Lafayette Street Cape May, NJ 08204
2 Beds
1 Bath
925 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 925 sqft
Price per Sqft $972
MLS Listing ID 252459
Bedrooms 2
Full Baths 1
Year Built 1930
Annual Tax Amount $3,229
Tax Year 2024
Property Sub-Type Condo
Property Description
Welcome to 523 Lafayette Street, Unit 2. With an unbeatable location in the heart of Cape May, this charming 2-story, 2-bedroom, 1-bathroom condominium with a private rooftop deck and outdoor shower offers everything you could want in a beach retreat, year-round residence, or proven vacation rental. Just 3 blocks to some of the finest beaches on the East Coast and only steps from the Washington Street Mall, you'll be surrounded by world-class dining, boutique shopping, and endless entertainment, including Cape May Stage. Rotary Park, home to free summer concerts and Cape May's famous Christmas tree, is also just down the street. Parking is never a concern here—this home comes with two off-street, reserved stacked parking spots so you'll never have to “feed the meters.” Unit #2 is located on the second and third floors of a classic Cape May Victorian building. Outdoor stairs lead to a welcoming entry foyer and gleaming hardwood floors that flow throughout. The main level includes the Primary bedroom, beautifully renovated bathroom, laundry area, sunny galley kitchen with quartz counters, and a bright living/dining area. The Upper level finds a spacious second bedroom with both queen and twin beds, plus your own private rooftop deck—the perfect spot for morning coffee, afternoon sun, or evening cocktails at sunset. Recent Upgrades include New sectional living room sofa, New queen and twin beds, Newer full HVAC system (furnace & compressor), Newer natural gas tankless water heater, Quartz countertops, Refinished hardwood floors, Fresh paint throughout (entire building repainted in 2022), Deck recently sealed. Investment Opportunity: This well-maintained Victorian holds just three units (one commercial, two residential) and unit 2 has a low annual condo fee of $2,000. A strong rental history: Averaging $50,000–$70,000 per year since 2018, Airbnb ranks this condo among the top-performing rentals in Cape May, averaging $799 per night in high season. Do not miss this opportunity to own a turn-key property in the heart of Cape May, with historic charm, modern updates, off street parking for two cars, and a rooftop deck all just steps from the beach and Washington Street Mall. Add this special property to your must-see list! Home is offered fully furnished, less artwork. Just bring your suitcase and enjoy Cape May! Property can be shown after 11 am on August 24 and August 31. Showings in September: 2-4; 7-10; 14-19; 21-26; 28-30.
Location
State NJ
County Cape May
Area Cape May
Location Details Corner
Interior
Hot Water Gas
Building
Lot Description Corner
Story Two
Unit Location Top Floor
Sewer City
Water City
New Construction No
Others
Virtual Tour https://my.matterport.com/show/?m=kLehqquCWap
Listed by Tim Kerr Sotheby's International Realty
GET MORE INFORMATION
Micah Yerk
Broker-Salesperson/Managing Broker, Lower Township Office | License ID: 1110889
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