NJ
CAPE MAY
CAPE MAY
08204
1352 WASHINGTON STREET
1352 WASHINGTON STREET, CAPE MAY, NJ 08204
Share Listing
Listing Type
Multi Family
Listing Status
Active
13
$1,999,999

Home Details for 1352 WASHINGTON STREET

Price
$1,999,999
Type
Residential Income
Bedrooms
7
Year built
1920
Lot size acres
0.43
County
CAPE MAY
Total rooms
20
Basement
Exterior Entry, Full, Interior Entry
MLS Listing#
NJCM2006960
Property Description

**Investor Alert – Prime Redevelopment Opportunity in Historic District** Exceptional opportunity for a seasoned investor or developer to acquire a uniquely positioned property located within the Historic District. The existing structure is considered **non-contributing**, while the on-site billboard, dating back to the 1920's refurbished in the mid 70's by a local builder, is recognized as a contributing feature, creating a rare dynamic for redevelopment potential. The current configuration consists of a mixed-use building with **four residential units and one commercial space (barber shop)**. Originally designed as 5 rental areas with rental rooms on third floor, the property now includes one (1) one-bedroom unit and three (3) two-bedroom units, each with living room, kitchen, and bath. The third floor, historically used for room rentals, has not been occupied for decades and is presently utilized for storage only (no current egress). The property features a full basement with both interior and exterior access, housing separate heating systems and hot water infrastructure. Three residential units are separately metered; one unit shares utilities with the commercial space (paid by the commercial tenant). Heating is natural gas baseboard; no central air conditioning. Ample on-site parking is available, including a dedicated lot servicing both residential tenants and the commercial unit, with defined ingress and egress driveways. All residential tenants are **month-to-month**, offering flexibility for repositioning or redevelopment. This property is being offered strictly as an **AS-IS sale**. Seller will make **no repairs, credits, or concessions**, and provides **no warranties or guarantees**. Inspections are for informational purposes only. **All offers must be accompanied by a Letter of Intent (LOI)** and should be structured as cleanly as possible, with minimal contingencies. Seller’s priority is a strong, straightforward transaction. **Post-closing occupancy required:** Seller requests a leaseback period for the two 2nd floor units that they currently occupy personally of approximately **6–8 months** following settlement. This is a rare opportunity to capitalize on land value and redevelopment potential in a historically significant location. Serious, qualified investors only.

Property Features
  • Basement
    • Exterior Entry
    • Full
    • Interior Entry
  • Heating Information
    • Natural Gas
    • Baseboard
  • Cooling Information
    • Window Unit(s)
  • Water Features
    • Public
  • Parking
    • Off Street
Listing Courtesy: Homestead Real Estate Co Inc. - 609-884-1888
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Last Updated: 2026-03-20 16:04:07
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EXIT REALTY JERSEY SHORE
2029 Route 37 East, Toms River, NJ 08753
Rosemarie McGeehan
License #: 0679931
Associate Broker
Office
732 573 1550
Agent
732 740 9519
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