Unimproved Land in 1219 NE 5th Terrace, Fort Lauderdale, FL 33304 for sale with MLS# B26033788
Rare opportunity to acquire an income producing duplex (2 1/1s) w/ additional development capacity in Fort Lauderdale's rapidly developing Studio City at OVER 30% OFF 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.
1219 NE 5th Terrace, Fort Lauderdale, FL 33304
- Price:
- $799,997.00
- Original List Price:
- $799,997.00
- List Price per Sq Ft (Calculated, Approx.):
- $78.98
- Gross Scheduled Income:
- 34200
- Listing Type:
- For Sale
- Status:
- Active
- Special Sale Conditions:
- Standard
- Listing Category:
- Land & Docks
- Property Type:
- Unimproved Land
- Description of Last Important Update:
- New Listing
- Last Major Update on:
- May 28, 2026 3:55 pm
- Lot Area:
- 10,129 Sqft
- Lot Size Dimensions and Info:
- 75 ft x 135 ft
- Lot Size Acres:
- 0.2325
- Waterfront:
- No
- Current Use:
- Multi-family
- Fence:
- Wood
- Property Entrance Faces:
- East
- Road Responsibility:
- Public Maintained Road
- Road Frontage Type:
- City Street
- Possible Use:
- Multi-family
- Tax Annual Amount:
- $7,203.21
- Tax Year:
- 2025
- Tax Assessed Value:
- $265,430.00
- Property Tax Details:
- City/County
- Sewer:
- Public Sewer
- Utilities Available:
- Electricity Connected, Sewer Connected, Water Connected, Cable Connected, Phone Connected
- Water Source:
- Public
- Subdivision Name:
- PROGRESSO
- Senior Community:
- No
- Development Status:
- Recorded Plat, Proposed
- Documents Available:
- Aerial, Survey, Building Plan, Plat Map, Plans
- Listing Terms Considered by Seller:
- Cash, Conventional, Cryptocurrency, Owner Will Carry Points, Private Financing Available, 1031 Exchange, Trade
- Buyer Possession:
- Negotiable
- Negotiable Seller Concessions
- Tax Legal Description:
- PROGRESSO 2-18 D LOT 13,14,15 BLK 114
- Real Estate Folio Number (Parcel Number):
- 494234032080
- Zoning:
- RMM-25
- Elementary School:
- Charles David Wyche, Jr.
- High School:
- Fort Lauderdale
- Middle Or Junior School:
- Sunrise
- Active on the market since:
- May 28, 2026
- Listing Agreement executed on:
- May 28, 2026
- Listing Status Last Changed On:
- May 28, 2026 3:55 pm
- Photos updated on:
- May 28, 2026 3:55 pm
- Last Modified:
- May 29, 2026 2:43 pm
- Courtesy of:
- United Realty Group Inc.
- Attribution:
- Not provided
- Road Surface Type:
- Paved, Asphalt
- Street Name:
- 5th
- Street Number:
- 1219
- City:
- Fort Lauderdale
- State:
- Florida
- Zip Code:
- 33304
- County:
- Broward
- Latitude:
- N26° 8' 28.7''
- Longitude:
- W81° 51' 39.9''
- Street Suffix:
- Terrace
- Street Direction Prefix:
- NE
Neighborhood Stats
Source: U.S. Census Bureau, ACS 5-Year Estimates
Want to schedule an in-person or virtual tour? Have questions?
Want to schedule an in-person or virtual tour? Have questions?
Schedule a Tour or Ask a Question
Ver la propiedad 1219 NE 5th Terrace, Fort Lauderdale, FL 33304
