1219 NE 5th TER, Fort Lauderdale, FL 33304
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Monica Cataluña, CCIM, ALC

Monica Cataluña, CCIM, ALC

+1(954) 812-1831
$747,850
Est. payment /mo
10,127 Sqft Lot
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Key Details

Property Type Vacant Land

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Progresso

MLS Listing ID B26033788

HOA Y/N No

Annual Tax Amount $7,203

Tax Year 2025

Lot Size 10,127 Sqft

Acres 0.2325

Lot Dimensions 75x135

Property Sub-Type Commercial

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

Community Progresso

Area 3370

Exterior

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

Street Surface Paved

Private Pool Yes

Building

Lot Description <1 Acre, < 1/4 Acre

Faces East

Sewer Public Sewer

Water Public

Schools

Elementary Schools North Side

Middle Schools Sunrise

High Schools Fort Lauderdale

Others

Senior Community No

Restrictions No Deed Restrictions

Tax ID 494234032080

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

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Miami Association of Realtors (SEFMIAMI MLS)
Listed by United Realty Group Inc.
Monica Cataluña, CCIM, ALC

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL, 33331

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1219 NE 5th TER