Property 1219 NE 5th Terrace 1-2, Fort Lauderdale, FL for sale with MLS# B26033810
Rare opportunity to acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 35% below market value. Located on NE 5th Terrace, less than one block from NE 13th Street, the property is under a 60 second walk from the heart of Studio City: Fort Lauderdale's emerging arts and entertainment district, featuring an eclectic mix of independent businesses like Gulfstream Brewing Co, Lovelee Bakeshop, Radio-Active Records and other popular neighborhood destinations. Situated at the crossroads of Flagler Village & Wilton Manors, the area offers a vibrant, walkable neighborhood experience with a youthful, creative energy often compared to early Wynwood. Surrounded by ongoing new development, the area continues to attract investors & developers who recognize its long term potential. This property should not be viewed solely as a duplex or solely as a land play; the true value is in both. The existing duplex (that has separate water & electric meters) can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 10 units, without tearing down the current structure. The included site plan shows viable layout, parking, & access. A preliminary development meeting with the city has been held; representatives from every relevant department (planning, zoning, engineering, landscape, etc) were present and confirmed that the site plan is feasible and compliant with current code and zoning regulations. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(fully 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+ instant equity upon completion. Potential ~10% cap rate. Seller will finance. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information.
1219 NE 5th Terrace 1-2, Fort Lauderdale, FL
- Price:
- $729,850.00
- Original List Price:
- $799,997.00
- Tenant Pays:
- Water
- Listing Type:
- For Sale
- Status:
- Active
- Special Sale Conditions:
- Standard
- Listing Category:
- Commercial Sale
- Property Type:
- Multi Family
- Description of Last Important Update:
- Price Reduced
- Last Major Update on:
- July 28, 2026 5:01 pm
- Built-Up Area:
- 1,053 Sqft
- Building Area Source:
- Appraiser
- Lot Size Acres:
- 0.23
- Security:
- Other
- Air Conditioning
- Air Conditioning System:
- Ceiling Fan(s), Wall/window Unit(s)
- Heating
- Heating System:
- Window/wall
- Fence:
- Wood
- Year Built:
- 1957
- Roof:
- Shingle
- Construction Materials:
- Stucco, CBS, Concrete Block - With Stucco
- Flooring:
- Terrazzo
- Number of stories:
- 1
- Flood Zone Code:
- AE
- Tax Annual Amount:
- $7,203.21
- Tax Year:
- 2025
- Tax Assessed Value:
- $265,430.00
- Parking Total Spaces:
- 11
- Parking Features:
- Covered, Assigned, Guest, Accessible Parking
- Sewer:
- Public Sewer
- Electric:
- Separate Meters
- Utilities Available:
- Electricity Connected, Sewer Connected, Water Connected, Cable Connected, Phone Connected
- Water Source:
- Public
- Senior Community:
- No
- Documents Available:
- Existing Survey, Copy Of Lease(s), Site 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
- Active on the market since:
- May 28, 2026
- Listing Agreement executed on:
- May 28, 2026
- Price change occurred on:
- July 28, 2026 5:01 pm
- Listing Status Last Changed On:
- May 28, 2026 4:20 pm
- Photos updated on:
- June 29, 2026 3:20 pm
- Last Modified:
- July 28, 2026 5:02 pm
- Courtesy of:
- United Realty Group Inc.
- Attribution:
- Not provided
- Street Name:
- 5th
- Street Number:
- 1219
- Unit Number:
- 1-2
- City:
- Fort Lauderdale
- State:
- Florida
- County:
- Broward
- Latitude:
- N26° 8' 28.7''
- Longitude:
- W81° 51' 39.9''
- Street Suffix:
- Terrace
- Street Direction Prefix:
- NE
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