1045-1047 Lafayette Street Cape May, NJ $ 1,550,000
1045-1047 Lafayette Street
$ 1,550,000
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1045-1047 Lafayette Street

Cape May, NJ, 08204
$ 1,550,000
Bedrooms5 Baths3.0

Monthly Estimate*

$ 9,169

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Multi-Family Home for sale in Cape May, NJ

for $1,550,000 with 5 bedrooms and 3 full baths. This home was built in 1860 on a lot size of 70x198.

Great investment opportunity to own a Triplex in the beautiful historic city of Cape May that does not require flood insurance! This late federal style house built c.1860 is shown as the residence of Israel Hughes on maps dated from 1872 to 1886. Hughes was enumerated on page 3 of the 1870 census as a 48-year old River Pilot living in the home with his wife and six children, two of whom were also ship captains. The property contributes to the historic district as an example of mid-19th century construction. It retains integrity and character-defining features including its form, dormers, roof cornice and gable end returns, as well as interior gable end brick chimneys. This multi-family home is situated on an expansive 70x198 lot. An asphalt driveway is located on the south side of the house leading to a large gravel covered parking area and 40x17 garage with 3 bays. The house is clad in aluminum siding and the foundation of the main block is stuccoed brick. Unit #1 is addressed as "1045 Lafayette Street 1st floor" featuring one large bedroom, 1 bath, kitchen, spacious dining room and large living room with ample natural lighting. Interior access to the basement where washer and dryer, utility sink, two gas fired boilers, two electric hot water heaters and electric panels are located. Unit #2 is addressed as "1045 Lafayette Street 2nd floor" featuring 1 bedroom, 1 bath, living room, eat-in kitchen and curved staircase leading to sizable attic with plenty of storage and tall ceiling. Gas fired boiler, electric hot water heater, and electric panel located in the basement, in addition to a sub-panel on 2nd floor. 1045 side share one water/sewer service. Unit #3 is addressed as "1047 Lafayette Street" which is the largest unit spanning from basement to attic! The first floor boasts a large living room with an abundance of natural lighting, kitchen, dining room and half bath. 2nd floor offers 3 bedrooms and 1 bath. Curved staircase leading to attic with plenty of storage and tall ceiling. Interior access to the basement where washer and dryer hook up is located along with gas fired boiler, gas hot water heater and electric panel. 1047 side has one water/sewer service. Each unit has separate natural gas and electric meter. Decades of year-round rental history. Rents have remained stable in consideration of the pandemic. So many options available for this multi-family property! Just a short distance to shopping, beautiful beaches, parks, bed and breakfasts, horse and carriage tours, churches, shopping and fabulous restaurants, wineries, historical sites and so much more!! Don't miss out on seeing this property!! Contact Agent, as shown by appointment only. Agent related to sellers.

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Multi-Family Active

Price

$ 1,550,000

Bedrooms

5

Full Bath

3

Property Type

Multi-Family

Taxes

$ 5,725

Style

Triplex

Lot Size

70x198

Year Built

1860

Town/City

Cape May

County/Region

Cape May

MLS | Web ID

220309

Features
Room Sizes
Dining Room
Kitchen
Kitchen
Living Room
Interior
Basement Inside Entrance Partial Basement
Heating Source Hot Water Natural Gas
Heating System Baseboard Gas Hot Water Heat Hot Water Heater: Electric
Interior Ceiling Fans
Sewer City Sewer
Water Source City Water
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Exterior
Driveway Blacktop Shared Driveway
Exterior Outside Shower
Garage 3 Car Detached Garage(s)
Land Improvements Sidewalks
Lot Description Other
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Miscellaneous
Utilities Electric Gas TV-Cable
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* Excluded Features
List By
Kathleen(Kathy) Elwell

Listing Agent

Century 21 Alliance - Ncm

Broker

karinapopdan@gmail.com

Email

Affordability Calculator

$9,646
Per Month
95%
5%
0%
Monthly Principal & Interest
$9,169
Monthly Property Taxes
$477
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.875% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Pricing History
DatePricePrice ChangeDescription
5/18/2022$1,550,000 -6.06% Price Down
3/9/2022$1,650,000 -2.94% Price Down
2/7/2022$1,700,000 Listed Price

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1045-1047 Lafayette Street, Cape May, NJ, 08204 is a Multi-Family Home for sale at $1,550,000 with a lot size of 70x198. 1045-1047 Lafayette Street has 5 bedrooms, 3.0 baths, and was built in 1860. The property's zip code is 08204 which is in Cape May, NJ