Fort Lauderdale, FL 33304 1219 NE 5th Terrace 1-2
$799,997
32 more
Presented By: United Realty Group Inc.
SQFT • 1,053
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: United Realty Group Inc.
Interior Features for 1219 NE 5th Terrace 1-2
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringTerrazzo
Heating Y/NYes
Total Stories1
Window FeaturesStormWindows
General for 1219 NE 5th Terrace 1-2
AccessibilityNone
CityFort Lauderdale
Construction MaterialsBlock, Stucco
CoolingCeilingFans, WallWindowUnits
CountyBroward
DisclosuresOwnerIsListingAgent
Elementary SchoolNorth Side
HeatingWallFurnace
High SchoolFort Lauderdale
Legal DescriptionPROGRESSO 2-18 D LOT 13, 14, 15 BLK 114
LevelsOne
MLS Area3370
Middle/Junior High SchoolSunrise
New ConstructionNo
Number Of Units Total2
Patio/Porch FeaturesPatio, Porch
Pets AllowedNoPetRestrictions, Yes
PossessionNegotiable
PostalCityFort Lauderdale
Property ConditionResale
Property Sub Type AdditionalDuplex
Property SubtypeDuplex
Property TypeResidentialIncome
RoofFlat
Senior Community Y/NNo
SewerPublicSewer
Standard StatusActive
StatusActive
Stories Count1
Subdivision NamePROGRESSO
Tax Annual Amount7203.21
Tax Year2025
Tenant PaysElectricity, Sewer, Water
Unit Number1-2
UtilitiesCableAvailable, ElectricityConnected, Other, PhoneAvailable, SewerConnected, WaterConnected
Virtual TourClick here
Year Built1957
Exterior for 1219 NE 5th Terrace 1-2
Building Area Total1053
Exterior AmenitiesOutdoorLivingArea, Other
Lot Dimensions75 x 135
Lot FeaturesLessThanQuarterAcre
Lot Size Acres0.23
Lot Size Area10018.8
Road ResponsibilityPublicMaintainedRoad
Road Surface TypePaved
SpaNo
Total Parking6
Water SourceMultipleMeters, Public
Waterfront Y/NNo
Additional Details
Price History
Schools
Middle School
Sunrise Middle School
High School
Fort Lauderdale High School
Joaquin Gutierrez Mireya Mora
Broker-Associate & Realtor®
