1015 Washington Street

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1015 Washington Street

Cape May, NJ 08204
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building available for purchase in Cape May.
  • Located at 1015 Washington Street within the 08204 ZIP code.
  • Property consists of four individual residential rental units.
  • Coastal market with consistent demand for housing and rentals.
  • Well-suited for residential investors or portfolio expansion efforts.

What's Special

Investors seeking a stabilized multifamily acquisition in a coastal destination should consider this 4-unit apartment building for sale at 1015 Washington Street in Cape May, New Jersey. The property provides a residential investment footprint within a region known for its high seasonal demand and established tourism-driven economy. With its central location in the 08204 ZIP code, this asset is well-positioned for owners looking to manage a boutique rental portfolio in a historically significant market. Given the structural layout of this apartment building, the site supports various long-term residential leasing strategies or potential repositioning within the Cape May submarket. The surrounding area remains a desirable destination for both year-round residents and seasonal visitors, supported by the unique character of the South Jersey shoreline. This property offers a tangible entry point into the Cape May housing market for those focused on income-producing residential real estate assets.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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