486 W Perry Street

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486 W Perry 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 asset located at 486 W Perry Street in Cape May
  • The apartment building currently features two separate residential units
  • Cape May is a well-established coastal market in New Jersey
  • Property is currently offered for sale to qualified real estate investors
  • The site coordinates are positioned at 38.9346, -74.9293

What's Special

This multifamily apartment building at 486 W Perry Street in Cape May, New Jersey, is available for sale and presents a functional acquisition for real estate investors. The property consists of two distinct units, providing a manageable entry point into the local residential market. Cape May serves as a prominent destination along the Jersey Shore, characterized by a seasonal tourism economy and a stable base of year-round residents. The configuration of this asset allows for various operational approaches, including long-term rental housing or potential alternative residential uses. Situated in a region known for its historical architecture and coastal character, the building sits within a submarket that maintains consistent demand for housing inventory. Prospective investors may find this asset useful for diversifying their portfolios within a recognizable resort-oriented municipality. The layout of the two units supports straightforward management for owners seeking to establish or expand a foothold in this specific coastal region of the state.

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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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