1520 New Jersey Avenue , #117

Description

***OPEN HOUSE: Saturday 12/13 | 11:30am-1:00pm*** Don’t miss your chance to make this beach block updated condominium unit within the sought-after Cape Roc Condos of beautiful Cape May yours! This first-floor, one-bedroom, one-bathroom unit offers the perfect blend of relaxation and convenience with Cape May’s pristine beaches conveniently nearby. Step inside to find a turnkey, move-in-ready space, sold fully furnished to ensure immediate enjoyment. The efficient floorplan features a rear bedroom with two beds, ample storage space, and a south-facing window with excellent natural lighting. A full bathroom with a shower/tub combo is centrally located between the bedroom and the main living space. The main living space features a dining area, a full kitchen, an entertainment space, and additional sleeping capacity via a pullout sofa and daybed. Cape Roc Condominiums provide an array of desirable amenities, including a heated swimming pool, on-site gas grills, dedicated off-street parking, spacious patios for outdoor enjoyment, and secure bike racks. Imagine savoring ocean breezes while grilling poolside or embarking on an evening bike ride to Cape May's vibrant downtown, filled with exquisite restaurants and unique shops. This well-maintained unit offers an exceptional investment opportunity, boasting a strong rental history dating back to 2022. Peak summer weeks command up to $2,200 per week in rent, and the property achieved an estimated $21,910 Gross Rental Income in 2025. This flexibility allows for personal use, rental income, or a perfect blend of both. Condo fees are reasonable at $375 per month, covering hot and cold water, exterior maintenance, pool upkeep, main building property insurance, and trash/recycling services. The shared on-site laundry rooms for Cape Roc were recently updated and are conveniently located on each level. Owners are responsible for electric, cable, and internet for their condo unit. The community is pet-friendly for owners, but renters are not permitted to bring pets. There is a one-time capital contribution fee of $1,125 and a $250 condo association package for new unit owners. There is a special assessment approved for 2026 to fund capital improvements, specifically replacing the elevators and installing new railings. The assessment is equivalent to four months of each unit's regular condo fees. For Unit 117, this total assessment equals $1,500. The $1,500 is split equally and will be due with each quarterly condo fee Q1, 2026. This is a rare opportunity to own a piece of Cape May paradise in a highly desirable location. Don't miss out, schedule your showing today! Take a 3D Walkthrough Tour here: https://my.matterport.com/show/?m=UGmA49S6HAN&mls=1