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1219 NE 5th Terrace, Fort Lauderdale, FL 33304

$747,850

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https://www.propertypanorama.com/1219-NE-5th-Terrace-Fort-Lauderdale-FL-33304/unbranded

77e193040114f71104f772c17be9b9b9-uncropp

Property Type: Land & Docks Lot Size (sq. ft.): 10,129 Status: Active

Current Price: $747,850 List Date: 5/28/2026 Last Modified: 6/16/2026

Overview

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.

Listing Details MLS# B26033788

General Property Information

Transaction Type: Listing For Sale
Property Sub Type: Unimproved Land
Lot Size Acres: 0.23
Lot Size Square Feet: 10129
Lot Size Dimensions: 75 ft x 135 ft
Lot Depth: 135
Property Description: MULTIFAMILY
Lot Frontage: 75
Direction Faces: East
LP/Assessed Value: 2.82
LP/SqFt: 73.83

Property Features

Current Use: Multi-Family Deed Restrictions: None Development Status: Proposed; Recorded Plat Documents Available: Aerial; Building Plan; Plans; Plat Map; Survey Environmental Audit: None Fencing: Wood Possession: Negotiable Possible Use: Multi-Family Sewer: Public Sewer Special Listing Conditions: Standard Utilities: Cable Connected; Electricity Connected; Phone Connected; Sewer Connected; Water Connected Listing Terms: 1031 Exchange; Cash; Conventional; Cryptocurrency; Owner Will Carry; Private Financing Available; Trade Road Frontage Type: City Street Road Responsibility: Public Maintained Road Road Surface Type: Asphalt; Paved Tax Information: City/County Water Source: Public Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Listing Agent Must Accompany; Schedule Online Elevation Description: 0-5 Feet Above Sea Level Acreage Description: Less Than 1/4 Acre Lot; Less Than 1 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 799997
Negotiable Seller Concessions YN: Yes
Listing Service: Full Service
Seller Represented YN: Yes
LP/Acre: 3216559.14
LP/Frontage: 9971.33

Location and Legal

Country: United States
County Or Parish: Broward
Street Number: 1219
Street Direction Prefix: NE
Street Name: 5th
Street Suffix: Terrace
Municipality Type: Incorporated
State Or Province: FL
Postal Code: 33304
Postal Code +4: 4916
Subdivision Name: PROGRESSO
Area: 3370
Geographic Area: FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Elementary School: North Side
Middle Or Junior School: Sunrise
High School: Fort Lauderdale
Parcel Number: 494234032080
Subdivision Number: 3
Zoning: RMM-25
Flood Zone: AE
County Land Use: 08

Financial Information

Master Association YN: No
Membership Fee Required YN: No
Tax Year: 2025
Tax Annual Amount: 7203.21
Tax Assessed/SOH Value: 265430
Tax Legal Description: PROGRESSO 2-18 D LOT 13,14,15 BLK 114
Assessor Market Value: 450800
Estimated Monthly Assoc Recurring Fee: 0

Status Change Information

Major Change Timestamp: 2026-06-16T16:53:21Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-06-16T16:53:21Z
Status Change Date: 2026-05-28

More Information

Income and Expenses

Gross Income: 34200
Gross Scheduled Income: 34200
Real Estate Taxes: 7203.21

Originating Details

Originating System Key: 20260528152101002967000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Special Listing Conditions

Standard: Yes

Documents Available

Aerial: Yes
Building Plan: Yes
Plans: Yes
Plat Map: Yes
Survey: Yes

Fencing

Wood: Yes

Current Use

Multi-Family: Yes

Deed Restrictions

None: Yes

Development Status

Proposed: Yes
Recorded Plat: Yes

Environmental Audit

None: Yes

Possession

Negotiable: Yes

Possible Use

Multi-Family: Yes

Sewer

Public Sewer: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Phone Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Listing Terms

1031 Exchange: Yes
Cash: Yes
Conventional: Yes
Cryptocurrency: Yes
Owner Will Carry: Yes
Private Financing Available: Yes
Trade: Yes

Road Frontage Type

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Road Surface Type

Asphalt: Yes
Paved: Yes

Water Source

Public: Yes

Showing Requirements

24 Hour Notice: Yes
Appointment Only: Yes
Call Listing Agent: Yes
Listing Agent Must Accompany: Yes
Schedule Online: Yes

Tax Information

City/County: Yes

Elevation Description

0-5 Feet Above Sea Level: Yes

Acreage Description

Less Than 1/4 Acre Lot: Yes
Less Than 1 Acre Lot: Yes

Documents

Site Plan ›

Survey ›

Offering Memorandum ›

Listing Office: United Realty Group Inc.

Last Updated: June - 16 - 2026

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