For Sale 601 Madison, Cape May, NJ, 08204

AMAZING RENTAL PROPERTY WITH AN IN-GROUND POOL! Over $247,000 of gross income in 2023 with $265,000 gross income on the books already for 2024! This property is the perfect Cape May Modern Beach House with a Heated IN GROUND Pool with a rare and desirable sun shelf as well as a Heated Front Porch for extended outdoor enjoyment!! This newly finished 5-bedroom, 3.5-bathroom house is a splendid home, rental property or retreat for today\'s discriminating Buyer. The open concept first floor has elegant, coffered ceilings, a nine-foot island with beverage fridge, gas fireplace and gorgeous fixtures. There is a spacious dining area, and the adorable powder room is fabulous. The back lounge has a bar that looks into the kitchen and also has a wonderful view of the pool and outside entertainment area. The interior design is bright and motivating. The First Floor Primary Bedroom with a gorgeous Primary Bath is sought after in this market. The Second Floor has another Primary Bedroom with ensuite bathroom to help maximize rental income and guest comforts. The multipurpose Den on the second floor can be an office, living room, workout area and more. There are three other nice sized guest bedrooms and a full bath on the second floor. The 1.5 car garage allows for that extra room for beach gear and bikes. The irrigated landscaping and pavers enhance the beauty of this impeccable property. The Sellers thought of everything, even a whole house generator! This is a turnkey property, less Sellers\' personal items. Call for your appointment today!!!

An “extremely flexible opportunity” that doesn’t come along very often! The historic Thomas Webster House, built in 1876, prominently located at the corner of Washington Street and Madison Avenue is now available. An ideal elevated location with easy access to Madison Avenue beach, the Washington Street Mall and many fine restaurants. This fabulous property is currently operating as four seasonal rental apartments with spacious Owners Quarters. But, because of its unusual flexibility, some alternate uses include conversion back to a magnificent single-family vacation home, a condominium conversion to five units or rental of all five units to increase your income even more. Also can be utilized in any number of combinations, increasing or decreasing the size of the Owners Quarters as needed over the years. The front of this stately Victorian home is situated a comfortable distance from quiet tree lined Washington Street and framed by a coordinating and historically correct custom built picket fence. Also surrounding the house are beautiful gardens admired by passersby for their restful beauty. The spacious driveway/parking is accessed from Madison Avenue and will accommodate six vehicles hidden from view. All of the apartments are accessed from the rear through dedicated entrances and sun decks. A very private fenced outdoor oasis can also be found behind the house and the custom outdoor shower/bath must be seen to be believed. Even more amazing outdoor living is provided by the large shaded front porch with newly refreshed awnings. As you enter the first floor Owners Quarters you will enjoy ten-foot ceilings in the two large front rooms featuring restored plaster ceiling medallions and crown moldings, picture rail, vintage lighting and the original paint scheme. One of these rooms is the large dining room accessed directly from the kitchen with doors opening to the front porch and enclosed side porch. The other is the large Victorian parlor with a tall bay window where you can relax as the trolleys pass by. Your Owners Quarters master bedroom is large and includes a five-window bay and there is a second bedroom in this magical space. Conveniently located across the hall is a large tiled full bath and separate laundry room. A large bright tiled kitchen and two large closets complete your private space. Also located on the first floor you will find the Garden Suite a spacious self-contained one-bedroom apartment. This cozy apartment includes a large king-sized bedroom with pocket windows overlooking the gardens, full bath, closets, sitting room and charming kitchen accessed from a private deck, wow! On the second floor you will find two spacious two-bedroom apartments with private tiled bathrooms, sitting/living rooms, and kitchens both accessed from their own private decks. Yes, there is more, an additional two-bedroom apartment which occupies the entire third floor. The Captains Quarters features a private bath with mahogany ceiling, large living space, eat-in kitchen and two bright bedrooms with delightful sea breezes. Some other features of the property include an outdoor storage shed, beach chair box, security and fire alarm system, individual electric and gas meters. The house contains approximately 4,488 square feet of living space (per the city tax assessor’s records). The large, over size lot size contains close to 15,000 square feet, or roughly a third of an acre. The building’s architectural style is designated as French Second Empire with Mansard Style Roof. The building contains three levels over a half daylight partial basement. The current configuration of the building is as follows: 2 units on the first floor (a 2 bedroom, 1 bath Owner’s quarters and a 1 bedroom, 1 bath apartment), 2 units on the second floor (both 2 bedroom, 1 bath apartments) and 1 unit on the third floor (a 2 bedroom, 1 bathroom apartment).

An “extremely flexible opportunity” that doesn’t come along very often! The historic Thomas Webster House, built in 1876, prominently located at the corner of Washington Street and Madison Avenue is now available. An ideal elevated location with easy access to Madison Avenue beach, the Washington Street Mall and many fine restaurants. This fabulous property is currently operating as four seasonal rental apartments with spacious Owners Quarters. But, because of its unusual flexibility, some alternate uses include conversion back to a magnificent single-family vacation home, a condominium conversion to five units or rental of all five units to increase your income even more. Also can be utilized in any number of combinations, increasing or decreasing the size of the Owners Quarters as needed over the years. The front of this stately Victorian home is situated a comfortable distance from quiet tree lined Washington Street and framed by a coordinating and historically correct custom built picket fence. Also surrounding the house are beautiful gardens admired by passersby for their restful beauty. The spacious driveway/parking is accessed from Madison Avenue and will accommodate six vehicles hidden from view. All of the apartments are accessed from the rear through dedicated entrances and sun decks. A very private fenced outdoor oasis can also be found behind the house and the custom outdoor shower/bath must be seen to be believed. Even more amazing outdoor living is provided by the large shaded front porch with newly refreshed awnings. As you enter the first floor Owners Quarters you will enjoy ten-foot ceilings in the two large front rooms featuring restored plaster ceiling medallions and crown moldings, picture rail, vintage lighting and the original paint scheme. One of these rooms is the large dining room accessed directly from the kitchen with doors opening to the front porch and enclosed side porch. The other is the large Victorian parlor with a tall bay window where you can relax as the trolleys pass by. Your Owners Quarters master bedroom is large and includes a five-window bay and there is a second bedroom in this magical space. Conveniently located across the hall is a large tiled full bath and separate laundry room. A large bright tiled kitchen and two large closets complete your private space. Also located on the first floor you will find the Garden Suite, a spacious self-contained one-bedroom apartment. This cozy apartment includes a large king-sized bedroom with pocket windows overlooking the gardens, full bath, closets, sitting room and charming kitchen accessed from a private deck, wow! On the second floor you will find two spacious two-bedroom apartments with private tiled bathrooms, sitting/living rooms, and kitchens both accessed from their own private decks. Yes, there is more, an additional two-bedroom apartment which occupies the entire third floor. The Captains Quarters features a private bath with mahogany ceiling, large living space, eat-in kitchen and two bright bedrooms with delightful sea breezes. Some other features of the property include an outdoor storage shed, beach chair box, security and fire alarm system, individual electric and gas meters. The house contains approximately 4,488 square feet of living space (per the city tax assessor’s records). The large, over size lot size contains close to 15,000 square feet, or roughly a third of an acre. The building’s architectural style is designated as French Second Empire with Mansard Style Roof. The building contains three levels over a half daylight partial basement. The current configuration of the building is as follows: 2 units on the first floor (a 2 bedroom, 1 bath Owner’s quarters and a 1 bedroom, 1 bath apartment), 2 units on the second floor (both 2 bedroom, 1 bath apartments) and 1 unit on the third floor (a 2 bedroom, 1 bathroom apartment).