1219 NE 5th TER #1-2, Fort Lauderdale, FL 33304
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Sisi Carnero

Sisi Carnero

+1(786) 344-7874
$ 747,850
Est. payment /mo
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Price Dropped by $52K

1219 NE 5th TER #1-2 Fort Lauderdale, FL 33304

1,053 SqFt

UPDATED:

Key Details

Property Type Multi-Family

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

Interior

Heating Wall Furnace

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

Flooring Terrazzo

Exterior

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

Roof Type Composition,Shingle

Total Parking Spaces 11

Private Pool Yes

Building

Lot Description <1 Acre, < 1/4 Acre

Story 1

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Block,Stucco

Others

Senior Community No

Tax ID 494234032080

Security Features Other

Acceptable Financing Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner May Carry, Owner May CarrySecond

Listing Terms Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner May Carry, Owner May CarrySecond

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

Miami Association of Realtors (SEFMIAMI MLS)
Listed by United Realty Group Inc.
Sisi Carnero

Sisi Carnero

Broker | License ID: 3228701

+1(786) 344-7874

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