Property profile

933 Washington St Cape May, NJ 08204

FOR SALE
Residential income homes
Property ID
US59-1356018
5,028 SF 0.27 ac lot Built 1875
Individually Owned 35-yr Hold
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Property summary

AI-generated overview

The historic Thomas Webster House, built in 1876, is located on the corner of Washington Street and Madison Avenue with set-back frontage on Washington Street, framed by a custom-built picket fence. The property features French Second Empire architecture with a Mansard-style roof, three levels over a half daylight partial basement, and approximately 4,488 square feet of living space on a lot of approximately 14,000 square feet. The layout includes a half-daylight partial basement and a first-floor configuration with two units: a 2-bedroom, 1-bath owner’s quarters with a kitchen and a separate 1-bedroom, 1-bath apartment. The second floor contains two 2-bedroom, 1-bath apartments, and the third floor includes one 2-bedroom, 1-bath apartment. Apartments are accessed from the rear through dedicated entrances and sun decks, and a private, fenced outdoor area is located behind the house with a custom outdoor shower/bath. Outdoor amenities include a large shaded front porch with awnings, gardens and lawns serviced by an irrigation system, and a driveway accessed from Madison Avenue providing parking for six vehicles, along with an outdoor storage shed and a beach chair box. The property is equipped with a security and fire alarm system, individual electric and gas meters, and hot water heating consisting of a natural gas-fired hot water boiler in the basement supplying radiators throughout, with three domestic hot water heaters also located in the basement. Alternate configurations include conversion to a single-family home, condominium conversion to five units, or rental of all five units.

Property profile

Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1875
Construction FRAME
Total area 5,028 SF
Lot 0.27 ac (11,622 SF)
Zoning code R-3
APN 02 01094-0000-00014
UPID US59-1356018

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bed & Breakfast Restaurant

Location

933 Washington St Cape May, NJ 08204
Cape May metro Census 22000 OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.15M
Comparable Approach Comparable
by Request
Blend (final) Blend
$920k

Owner & transaction history

since 1991
2 recorded transactions
1991
$275,000
1969
Price N/A

Zoning & alternative use

R-3 · Cape May, NJ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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