Fort Lauderdale, FL 33304 1219 NE 5th
$799,997
Presented By: This listing is courtesy of United Realty Group Inc.
Home Details
Rare opportunity to acquire income-producing duplex (2 1/1s) w/ additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 30% below market value. Keep the existing duplex (w/separate water & electric meters) & add 8 units for 10 units total. Included site plan shows layout, parking, & access. Meeting with city has been held; feasibility & zoning compliance confirmed. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(renovated) per unit. Subject property: partially renovated duplex + 8 units of buildable land; market value ~$1.2M. 1 bed rents:$1.6k-$2.3k/mo. Build cost ~$1.2M. All in:~$2M. Projected value:$3M+ = $1M+ equity. Potential ~10% cap. Opportunity zone. Seller will finance.
Presented By: This listing is courtesy of United Realty Group Inc.
Interior Features for 1219 NE 5th
Bathrooms
Total Baths
General for 1219 NE 5th
CityFort Lauderdale
CountyBroward
Development StatusSite Plan Filed
DisclosuresOwner Is Listing Agent
Elementary SchoolNorth Side
Expected Active Date 2026-05-28
Facing DirectionEast
Gross Income34200
High SchoolFort Lauderdale
Legal DescriptionPROGRESSO 2-18 D LOT 13, 14, 15 BLK 114
Listing TermsCash, Conventional, Cryptocurrency, 1031 Exchange, Owner May Carry, Owner May CarrySecond
Lot Size Square Feet10129
Lot Size UnitsSquare Feet
MLS Area3370
MLS Area MinorFt Ldale NE (3240-3270;3350-3380;3440-3450;3700)
Middle/Junior High SchoolSunrise
PossessionClosing & Funding, Close Plus, Immediately, Negotiable
PostalCityFort Lauderdale
Property SubtypeCommercial
Property TypeLand
Senior Community Y/NNo
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NamePROGRESSO
Tax Annual Amount7203
Tax Assessed Value265430
Tax Year2025
Total Actual Rent34200
UtilitiesCable Available, Electricity Available, Phone Available, Sewer Available, Water Available
Virtual TourClick here
Zoning DescriptionRMM-25
Exterior for 1219 NE 5th
Covered Spaces
Lot Dimensions75x135
Lot Features<1 Acre, < 1/4 Acre
Lot Size Acres0.2325
Lot Size Area10129
Road Frontage TypeCity Street
Road ResponsibilityPublic Maintained Road
Road Surface TypePaved
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
Middle School
Sunrise Middle School
High School
Fort Lauderdale High School
Mindy Marie Behnke
Realtor®
