501 Beach Ave, Unit 303 Cape May, NJ, 08204
$ 124,900Bedrooms 1 Baths1.0
for $124,900 with 1 bedroom and 1 full bath.
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 Marquis Suite with a king bed.
Appliances Range Refrigerator
Cooling System Wall Unit(s)
Heating Source Natural Gas
Heating System Gas Hot Water Heat
Interior Drapes Elevator(s) Furniture Included in Sale Window Covering
Sewer City Sewer
Water Source City Water
Exterior Deck Enclosed Patio/Porch Outside Shower Patio Pool
Garage 1 Car Other
Lot Description Other Water Frontage
Miscellaneous* Excluded Features
View Water View
List By Carol Menz,GRI,CRS,ABR,SFR
Coastline Realty, Llc
- Monthly Principal & Interest
- Monthly Property Taxes
- Monthly Home Insurance
Default based on a 30-year fixed rate of 4.125% 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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Condo/Townhouse/Co-op listings in Cape May, NJ
Average List Price $406,491
Percent of Sale Price 225 %
About Cape May, NJ
-12 % Since 2002
$ 50,859 Median Income
41.48 Median Age
13 % Households with Children