Jan Grissinger - Coldwell Banker Hearthside
501 Beach Avenue, Unit 403 #403, Cape May, NJ 08204

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 Marquis Suite with a king bed.

Details

MLS#179961
StyleCondominium
Sub-TypeResale
StatusActive
Days On Site273

Features

Bed(s)1
Bath(s) 1 Full
Garage1
PoolYes
Story(s)1 Story
Property ViewYes

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Area Information

StateNJ
CityCape May
Zip Code08204
AreaCape May
Listing VS Median (in 08204)
Price:
$137,500
low | high
Med:
$399,900
100% of Average
On Site:
273
low | high
Med:
29
100% of Average
Listing Updated: 10/21/2018
MLS Number: 179961
Listing Provided By:
Carol Menz,GRI,CRS,ABR,SFR  of  COASTLINE REALTY LLC
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.