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1219 NE 5th Terrace #1-2

Fort Lauderdale, FL 33304
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Bed 2

Bed

Bath 2

Bath

SqFt1,053

Sqft

SqFt10,018.80

Sqft(Lot)

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.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $729,850

AD Id : 79422641

MLS Id : B26033753

Beds : 2

Lot Size : 10,018.80 Sqft

Living Area Size : 1,053

Year Built : 1957

County : Broward

Subdivision: Progresso

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Feature Features

  • Interior Features

    Roof: Flat
    Window Features: StormWindows
  • Heating & Cooling

    Has Heating: Yes Heating: WallFurnace Has Cooling: Yes Cooling: CeilingFans, WallWindowUnits

  • Building Information

    Year Built: 1957
    Building Area Total: 1053
    Construction Materials: Block, Stucco
    Stories: 1
    Patio And Porch Features: Patio, Porch
    Private Pool: No
  • Exterior Features

    Exterior Features: OutdoorLivingArea, Other

  • Lot Information

    Lot Dimensions: 75 x 135 Main Square Feet: 10018.8 Lot Size Acres: 0.23 Lot Description: LessThanQuarterAcre

    Property Information

    Subdivision: PROGRESSO Source Property Type: ResidentialIncome Postal Code Plus 4: 4916 Property SubType: Duplex Levels: One Property Age: 69

  • Listing Price Information

    Listing Price: $729850
    Original Price: $799997
    Cash, Conventional, Cryptocurrency, Exchange1031, OwnerWillCarry, OwnerMayCarry, Other, Trade

  • 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

  • Parking Information

    Parking Total: 6

    Garage Information

    Pets Allowed: NoPetRestrictions, Yes

  • School Information

    Elementary School: North Side Junior High School: Sunrise Senior High School: Fort Lauderdale
  • Utility Information

    CableAvailable, ElectricityConnected, Other, PhoneAvailable, SewerConnected, WaterConnected
  • Location Information

    WaterSource: MultipleMeters, Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1232 NE 16th Ter, Fort Lauderdale, FL, 33304 $1,350,000 -- -- 2,177 2,177 SqFt
1043 N Victoria Park Ro.., Fort Lauderdale, FL, 33304 $929,000 3 5 1,498 1,498 SqFt
500 E Sunrise Boulevard, Fort Lauderdale, FL, 33304 $3,500,000 -- 6 4,835 4,835 SqFt
1207 NE 12th Avenue, Fort Lauderdale, FL, 33304 $985,000 4 4 3,044 3,044 SqFt
500 NE 14th Street, Fort Lauderdale, FL, 33304 $595,000 3 3 1,352 1,352 SqFt
1204 NE 5th Ave, Fort Lauderdale, FL, 33304 $1,200,000 5 4 2,660 2,660 SqFt
1145 NE 17th Way #1-2, Fort Lauderdale, FL, 33304 $870,000 3 3 1,593 1,593 SqFt
2516 NE 12th Street #1-2, Fort Lauderdale, FL, 33304 $1,350,000 5 4 2,527 2,527 SqFt
1236 NE 18th Avenue, Fort Lauderdale, FL, 33304 $1,499,000 4 5 3,569 3,569 SqFt
626 NE 17th Way, Fort Lauderdale, FL, 33304 $950,000 4 4 2,016 2,016 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/10/2026 @ 04:26

MLS: B26033753 LISTED BY: Michael Sheer, United Realty Group Inc. 954-450-2000 SOURCE: Beaches MLS

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