1219 NE 5th TER #1-2, Fort Lauderdale, FL
1219 NE 5th TER #1-2, Fort Lauderdale, FL
1219 NE 5th TER #1-2, Fort Lauderdale, FL
1219 NE 5th TER #1-2, Fort Lauderdale, FL
1219 NE 5th TER #1-2, Fort Lauderdale, FL
1219 NE 5th TER #1-2, Fort Lauderdale, FL
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Jody Boettge

Jody Boettge

+1(561) 222-7510
$ 747,850
Est. payment | /mo

1,053 SqFt

Save Virtual Tour
$ 747,850
Est. payment | /mo
Save Virtual Tour

1,053 SqFt

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,053 sqft

Price per Sqft $710

MLS Listing ID B26033810

HOA Y/N No

Year Built 1957

Annual Tax Amount $7,203

Tax Year 2025

Lot Size 10,018 Sqft

Acres 0.23

Property Sub-Type Multi Family

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.

Location

State FL

County Broward

Area 3370

Zoning RMM-25

Interior

Interior Features InteriorFeatures

Heating Wall Furnace

Cooling Ceiling Fan(s), Wall/Window Unit(s)

Flooring Terrazzo

Fireplace No

Exterior

Parking Features Assigned, Accessible Parking, Covered, Guest

Fence Wood

Utilities Available Cable Connected, Electricity Connected, Phone Connected, Sewer Connected, Water Connected

Water Access Desc Multiple Meters,Public

Roof Type Shingle

Accessibility Accessibility Features

Total Parking Spaces 11

Building

Lot Description < 1/4 Acre

Story 1

Sewer Public Sewer

Water Multiple Meters, Public

Structure Type Block,Stucco

Others

Tax ID 494234032080

Security Features Other

Acceptable Financing Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner Will Carry, Private Financing Available, Trade

Listing Terms Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner Will Carry, Private Financing Available, Trade

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/1219-NE-5th-Terrace-Unit-12-Fort-Lauderdale-FL/unbranded

BeachesMLS, Inc. (FLR) IDX
Listed by Michael J Sheer United Realty Group Inc.

NEARBY SCHOOLS & PROPERTIES

Jody Boettge

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(561) 222-7510

jody@propertyreveal.com

Jupiter, Florida, 33458, United States

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1219 NE 5th TER #1-2