1352 Washington Street Cape May, NJ $ 1,999,999
1352 Washington Street
$ 1,999,999
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1352 Washington Street

Cape May, NJ, 08204
$ 1,999,999
Bedrooms7 Baths4.1

Monthly Estimate*

$ 12,314

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Multi-Family Home for sale in Cape May, NJ

for $1,999,999 with 7 bedrooms and 4 full baths, 1 half bath. This home was built in 1920.

**Investor Alert – Prime Redevelopment Opportunity in Historic District** Exceptional opportunity for a seasoned investor or developer to acquire a uniquely positioned property located within the Historic District. The existing structure is considered **non-contributing**, while the on-site billboard, dating back to the 1920's refurbished in the mid 70's by a local builder, is recognized as a contributing feature, creating a rare dynamic for redevelopment potential. The current configuration consists of a mixed-use building with **four residential units and one commercial space (barber shop)**. Originally designed as 4 rental areas with rental rooms on third floor, the property now includes one (1) one-bedroom unit and three (3) two-bedroom units, each with living room, kitchen, and bath. The third floor, historically used for room rentals, has not been occupied for decades and is presently utilized for storage only (no current egress). The property features a full basement with both interior and exterior access, housing separate heating systems and hot water infrastructure. Three residential units are separately metered; one unit shares utilities with the commercial space (paid by the commercial tenant). Heating is natural gas baseboard; no central air conditioning. Ample on-site parking is available, including a dedicated lot servicing both residential tenants and the commercial unit, with defined ingress and egress driveways. All residential tenants are **month-to-month**, offering flexibility for repositioning or redevelopment. Commercial lease month to month as well. This property is being offered strictly as an **AS-IS sale**. Seller will make **no repairs, credits, or concessions**, and provides **no warranties or guarantees**. Inspections are for informational purposes only. **All offers must be accompanied by a Letter of Intent (LOI)** and should be structured as cleanly as possible, with minimal contingencies. Seller’s priority is a strong, straightforward transaction. **Post-closing occupancy required:** Seller requests a leaseback period for the two 2nd floor units that they currently occupy personally of approximately **6–8 months** following settlement. This is a rare opportunity to capitalize on land value and redevelopment potential in a historically significant location. Serious, qualified investors only.

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Multi-Family Active

Price

$ 1,999,999

Bedrooms

7

Full Bath

4

Half Bath

1

Property Type

Multi-Family

Taxes

$ 8,625

Style

Year Built

1920

Town/City

Cape May

County/Region

Cape May

MLS | Web ID

260686

Features
General
Heating Gas Natural Baseboard Multi-Zoned
Cooling Other
Possession closing
Zoning R-2
Water City
Sewer City
Year Built 1920
Parking Assigned Parking Black Top Driveway Stone Driveway
County Cape May County
Class MULTI-FAMILY
Type Other
Tax Year 2025
New Construction Y/N No
Status ACTIVE
Sale/Rent For Sale
Status Detail 0
Location Inside Lot
City Cape May
Taxes 8625.96
DOM 0
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Interior
Basement Full Outside Entrance Inside Entrance
Hot Water Gas
Total Number of Units 5
Unit 4 Bedrooms 2
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Exterior
Exterior Amenities Fenced Yard Sidewalks
Lot Dimensions 150x125
Lot Size 10001 to 20000 SqFt
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* Excluded Features
List By
Dagmer Chew

Listing Agent

Homestead Real Estate Co. Inc.

Broker

Dchew@homesteadrealestate.net

Email

Affordability Calculator

$13,033
Per Month
94%
6%
0%
Monthly Principal & Interest
$12,314
Monthly Property Taxes
$719
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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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Nearby
266621 Elementary School
266622 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/20/2026$1,999,999 Listed Price

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1352 Washington Street, Cape May, NJ, 08204 is a Multi-Family Home for sale at $1,999,999. 1352 Washington Street has 7 bedrooms, 4.1 baths, and was built in 1920. The property's zip code is 08204 which is in Cape May, NJ