1219 NE 5th TER #1-2, Fort Lauderdale, FL 33304
1219 NE 5th TER #1-2, Fort Lauderdale, FL 33304
1219 NE 5th TER #1-2, Fort Lauderdale, FL 33304
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Team At The Comerford Group

Team At The Comerford Group

+1(941) 586-3229
$799,997
Est. payment /mo
1,053 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,053 sqft

Price per Sqft $759

Subdivision Progresso

MLS Listing ID B26033753

Construction Status Resale

HOA Y/N No

Total Fin. Sqft 1053

Year Built 1957

Annual Tax Amount $7,203

Tax Year 2025

Lot Size 10,018 Sqft

Acres 0.23

Property Sub-Type Duplex

Property Description

Rare opportunity to acquire an income producing duplex (2 1/1s) w/ additional development capacity in Fort Lauderdale's rapidly developing Studio City at OVER 30% OFF 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

Zoning RMM-25

Interior

Interior Features InteriorFeatures

Heating Wall Furnace

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

Flooring Terrazzo

Fireplace No

Window Features Storm Window(s)

Exterior

Exterior Feature Outdoor Living Area, Other

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

Water Access Desc Multiple Meters,Public

Roof Type Flat

Street Surface Paved

Accessibility None

Porch Patio, Porch

Total Parking Spaces 6

Private Pool No

Building

Lot Description < 1/4 Acre

Dwelling Type Duplex

Story 1

Entry Level One

Sewer Public Sewer

Water Multiple Meters, Public

Level or Stories One

Structure Type Block,Stucco

New Construction No

Construction Status Resale

Schools

Elementary Schools North Side

Middle Schools Sunrise

High Schools Fort Lauderdale

Others

Senior Community No

Restrictions No Restrictions

Tax ID 494234032080

Acceptable Financing Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner Will Carry, Owner May Carry, Other, Trade

Listing Terms Cash, Conventional, Cryptocurrency, 1031 Exchange, Owner Will Carry, Owner May Carry, Other, Trade

Special Listing Condition Standard

Pets Allowed No Pet Restrictions, Yes

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BeachesMLS, Inc. (FLR) IDX
Listed by Michael J Sheer United Realty Group Inc.

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1219 NE 5th TER #1-2

Team At The Comerford Group
Team At The Comerford Group

Team Leader | Broker Associate | License ID: BK3455404

+1(941) 586-3229 | team@thecomerfordgroupfl.com

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