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1045-1047 Lafayette Street, Cape May NJ

Description

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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1045-1047 Lafayette Street, Cape May

For Sale: $1,550,000/ MLS: 220309

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