BEDS0
BATHS
SQUARE FEET1,053
MLS#B26033753
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONPROGRESSO
Property Description
Rare opportunity to acquire an income producing duplex w/confirmed 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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Ceiling Fan(s), Wall/Window Unit(s)
Heating: Window/Wall
Lot Size: 0.23 Acres
Roof Type: Flat
Stories: 1.0
Taxes: $7,203
Year Built: 1957
Amenities
Other
Feature Descriptions
Exterior: Stucco, CBS
Flooring: Terrazzo
Lot Dimensions: 75 x 135
Parcel#: 494234032080
Patio/Porch: Patio - Open, Porch - Open, Patio, Porch
Pets Allowed: Yes, No Restrictions
Restrictions: No Restrictions
Sewer: Public Sewer
SQFT Living: 1053
Structure Type: Duplex
Units: 2
Utilities: Cable Available, Electricity Connected, Other, Phone Available, Sewer Connected, Water Connected
Utilities: Cable Available, Electricity Connected, Other, Phone Available, Sewer Connected, Water Connected
Water: Public
Windows: Storm Window(s)
Local Schools
High School: Fort Lauderdale
Middle School: Sunrise
Elementary School: North Side
Listed By / Shown By
Listed By
Agency Name: United Realty Group Inc.
Agency Phone: 954-450-2000
Shown By
Agent Name: Hunter Pollack
Agent Phone:
Agency Title: Realty 100
Estimate Your Payment
Estimated Payment
$ 2,614.03 per month $1,780.45 Principal & Interest $600.25 Property Tax $233.33 Homeowner's InsuranceChange Payment Information
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1219 NE 5th Terrace, Unit 1-2 | MLS# B26033753
This multi-family property located at 1219 NE 5th Terrace, Unit 1-2, Fort Lauderdale, FL 33304 is currently listed for sale with an asking price of $799,997. Search Fort Lauderdale real estate on hpollack.realty100.com today.