501 Beach Avenue, Unit 331 Cape May, NJ 08204

$75,000
501 Beach Avenue, Unit 331, Cape May, NJ 08204
177026

Condo/Townhome/Co-Op for sale in Cape May, NJ

for $75,000 with 1 bedroom and 1 full bath. This home was built in 1935.

Property Information

  • $75,000
  • 1 Bedroom
  • 1 Full Bath
  • Condo/Townhome/Co-Op
  • Taxes are $832
  • Condominium
  • Active
  • 1 Floors
  • Built in 1935
  • Unit 331
  • Cape May, NJ
  • Cape May County
  • MLS/Web ID is 177026

 Virtual Tour

Description

501 Beach Avenue is located in the heart of Historic Cape May on the beachfront. Every condo hotel room features relaxing private balconies overlooking the ocean with breath taking unobstructed views of the beautiful Cape May beaches and Atlantic Ocean. Improvements include; new pool, newly updated restaurant, new pool bar with street access, new hot tub with waterfall feature, all with an elegant feel. Board members are actively engaged with their management team working towards a rejuvenation with all of the fantastic capital investments over the past two years being fulfilled and new ones being worked on daily. Experience the relaxing resort style amenities included in your ownership; outdoor heated pool, summer pool bar, restaurant, maid service, meeting rooms, fitness room, wireless internet, laundry room, parking and none of the maintenance usually associated with property ownership. The Washington Street Mall just two blocks away. You are surrounded by trendy restaurants, bars and shopping with plenty of off street parking. Another perk of ownership is that all room owners are members of the condo association. The association assets are the common areas, first floor restaurant with bar, liquor license, pool bar, front desk, first floor lobby, all hallways, meeting room, laundry room, fitness room, 4th, 5th and 6th floor lobby, maids room, maintenance room, 5th floor storage room and 4 parking lots. Individual units owned by your association are the 9 units built in 2009 on the 6th floor currently being rented. Since this property is run as a hotel there is an owner usage policy in place subject to change from time to time. The Marquis de Lafayette is a Condo-Tel, you own it as a condominium, but your condo is managed and operated as a hotel by your board of directors, manger and in-house staff. There is usage policy requiring owners to rent their room as a hotel room. This is an investment property you may use yourself per their usage policy but cannot furnish yourself. This is a very popular hotel, an appointment at least 72 hours in advance is required to see rooms/suites that are currently available for purchase. This is a Victoria room with two double beds.

Interior 7

Appliances

  • Refrigerator
  • Smoke Detector

Cooling System

  • Wall Unit(s)

Flooring

  • Rug(s)

Heating System

  • Electric
  • Gas Hot Water Heat
  • Space Heater(s)

Interior

  • Ceiling Fans
  • Drapes
  • Elevator(s)
  • Furniture Included in Sale
  • Window Covering

Sewer

  • City Sewer

Water Source

  • City Water

Exterior 3

Exterior

  • Deck
  • Hot Tub / Jacuzzi / Spa
  • Outside Shower
  • Patio
  • Pool

Garage

  • 1 Car
  • Other

Lot Description

  • Other
  • Water Frontage

Miscellaneous 2

Utilities

  • TV-Cable

View

  • Water View

† Excluded Feature

Listed By

Listing Agent: Carol Menz,GRI,CRS,ABR,SFR
Broker: COASTLINE REALTY, LLC

501 Beach Avenue, Unit 331, Cape May, NJ, 08204 is a Condo/Townhome/Co-Op for sale at $75,000. 501 Beach Avenue, Unit 331 has 1 bedrooms, 1.0 baths, and was built in 1935. The property's zip code is 08204 which is in Cape May, NJ

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Pricing History

Date Price Price Change Description
1/18/2018 $75,000 -24.92 % Price Change
6/25/2017 $99,900 Listed Price

Market Pricing

Average % of sale price Median % of sale price
All listings in Cape May $938,554 1,151 % above $699,000 832 % above
Condo/Townhouse/Co-op listings in Cape May $425,523 467 % above $450,000 500 % above
Sold listings in Cape May $388,333 418 % above $425,000 467 % above

Get the facts about Cape May, NJ!

Population 3,533
Population Growth (since 2000) -12 %
Median Income $50,859
Median Age 41.48
Households w/ Children 13 %

Residential Dwellings

  • Owned 797
  • Vacant 2346
  • Rented 640

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Get an Immediate Callback from 9:00 AM - 10:30 PM EST
or Call us at 1-800-839-1363