$799,997

1219 NE 5th Terrace, Fort Lauderdale, FL 33304

Land
Built in ——
10,019sqft lot
—— car garage
$——/sqft
Listed 14 days ago

Property Description

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.

Listing Status:: Active
Date Added:: May 28, 2026
Data Last Updated:: June 12, 2026 at 4:18AM
Listing Office:: United Realty Group Inc. : 954-450-2000
Listing Agent:: Michael J Sheer : 954-993-6664
MLS ID:: B26033788

Road/Access: City Street
Originating MLS: BEACH_BEACH
County: Broward

Zoning: RMM-25PROGRESSO 2-18 D LOT 131415 BLK 114494234032080
Fencing: Wood
Current Use: Multi-Family

Utilities: Cable ConnectedElectricity ConnectedPhone ConnectedSewer ConnectedWater Connected
Water: Public
Sewer: Public Sewer

Source: BEACH_BEACH

This listing courtesy of Michael J Sheer , United Realty Group Inc.

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Principal & Interest $
Property Taxes $
Home Insurance $
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