1219 NE 5th Terrace
Fort Lauderdale, FL 33304
0.23Acre(Lot)
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.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Lot Information
Lot Dimensions: 75 ft x 135 ft Lot Size Acres: 0.23 Lot Size Square Feet: 10,129 Lot Description: LessThanQuarterAcreProperty Information
Subdivision: PROGRESSO Source Property Type: Land Postal Code Plus 4: 4916 Property SubType: Unimproved Land Direction Faces: East
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Listing Price Information
Listing Price: $747850Original Price: $799997Cash, Conventional, Cryptocurrency, Exchange1031, OwnerWillCarry, PrivateFinancingAvailable, Trade
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Tax Information
Parcel Number: 494234032080 Tax Year: 2025 Annual Tax: $7203.21 Tax Legal Desc: PROGRESSO 2-18 D LOT 13,14,15 BLK 114
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School Information
Elementary School: North Side Junior High School: Sunrise Senior High School: Fort Lauderdale -
Utility Information
CableConnected, ElectricityConnected, PhoneConnected, SewerConnected, WaterConnected -
Location Information
WaterSource: Public
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1501 NE 26th Ave, Fort Lauderdale, FL, 33304 | $1,935,000 | -- | -- | -- | 11,821 Sqft(Lot) |
| 724-746 NE 3rd Avenue, Fort Lauderdale, FL, 33304 | $9,453,125 | -- | -- | -- | 44,250 Sqft(Lot) |
| 1120 NE 15th Ave, Fort Lauderdale, FL, 33304 | $594,900 | -- | -- | -- | 6,500 Sqft(Lot) |
| 622 NE 8th Avenue, Fort Lauderdale, FL, 33304 | $1,245,000 | -- | -- | -- | 6,750 Sqft(Lot) |
| 840 NE 19th Way, Fort Lauderdale, FL, 33304 | $4,200,000 | -- | -- | -- | Acres (Lot)-- |
| 1201 NE 3rd Avenue, Fort Lauderdale, FL, 33304 | $325,000 | -- | -- | -- | 6,952 Sqft(Lot) |
| 1110 NE 5th Avenue, Fort Lauderdale, FL, 33304 | $259,000 | -- | -- | -- | Acres (Lot)-- |
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ByOwner last updated this listing 06/19/2026 @ 13:55
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