HOMES BY DARCI
Southern Key Realty
1219 NE 5th Terrace Fort Lauderdale FL 33304
Address
1219 Ne 5th Terrace, Fort Lauderdale, FL
Price
$ 799,997
Property Attributes
- MLS#B26033788
- TypeLand
- Listing Status Active
- CountyBroward
- CityFort Lauderdale
- Area3370
- NeighborhoodPROGRESSO
- Zip33304
- Style
- Taxes$ 7203
- Price$ 799,997
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.23 Acres
Data Source:
Beaches MLS (FL)
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.
| Elementary School | Middle School | High School |
|---|---|---|
| North Side Elementary School | Sunrise Middle School | Fort Lauderdale High School |
| Price History | |
|---|---|
| 5/28/2026 | Listed $799,997 |
General Features
| Sewer | PublicSewer |
|---|---|
| Utilities | CableConnected,ElectricityConnected,PhoneConnected,SewerConnected,WaterConnected |
| Possession | Negotiable |
| Development Status | Proposed,SitePlanFiled |
| Property Subtype | UnimprovedLand |
| Tax Year | 2025 |
| Current Use | MultiFamily |
| Gross Income | 34200 |
| County | Broward |
| Property Type | Land |
| Subdivision Name | PROGRESSO |
| Facing Direction | East |
| Possible Use | MultiFamily |
| Status | Active |
| High School | Fort Lauderdale |
| City | Fort Lauderdale |
| Disclosures | OwnerIsListingAgent |
| MLS Area | 3370 |
| Lot Size Square Feet | 10129 |
| Elementary School | North Side |
| Tax Annual Amount | 7203.21 |
| Middle/Junior High School | Sunrise |
| Additional Parcels Y/N | false |
| Virtual Tour | https://www.propertypanorama.com/1219-NE-5th-Terrace-Fort-Lauderdale-FL-33304/unbranded |
| Standard Status | Active |
| Property Sub Type Additional | UnimprovedLand |
| PostalCity | Fort Lauderdale |
| Legal Description | PROGRESSO 2-18 D LOT 13,14,15 BLK 114 |
Exterior Features
| Fencing | Wood |
|---|---|
| Lot Features | LessThanQuarterAcre |
| Water Source | Public |
| Lot Dimensions | 75 ft x 135 ft |
| Lot Size Acres | 0.23 |
| Road Surface Type | Asphalt,Paved |
| Waterfront Y/N | false |
| Road Frontage Type | CityStreet |
| Road Responsibility | PublicMaintainedRoad |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Land Average in 33304
Price
Taxes
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Reduced
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