1219 5th ,Agriculture, Unimproved Multi Family (5+units), Progresso for Sale & Rent

1219 5th for Sale & Rent

Price $799,997.00

• Lot size 10129
• Year Build
• Waterfront
• Zip 33304
• Style
• Parking Description
• Pool Yes
• Status Active

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.

PROGRESSO 2-18 D LOT 13,14,15 BLK 114

Less Than 1/4 Acre Lot, Less Than 1 Acre

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.

City:Fort Lauderdale,Sewer:1:Public Sanitation,2:Sewer,Zoning:RMM-25,Country:United States,List A O R:BeachesMLS,Tax Year:2025,Latitude:26.1412955,List Price:799997,Listing Id:B26033788,Longitude:-80.1388454,Mls Status:Active,Utilities:1:Electricity Available,2:Phone Available,3:Sewer Available,4:Water Available,High School:Fort Lauderdale,Possession:1:Long Closing Preferred,2:Negotiable,Postal Code:33304,Street Name:5th,Coordinates:1:26.1412955,Gross Income:34200,Lot Features:1:Less Than 1 Acre,Photos Count:37,Days On Market:11,Listing Terms:1:Conventional,2:Cryptocurrency,3:Exchange,4:Owner Will Carry,5:Owner Hold 2nd Mortgage,Lot Size Acres:0.2325,Lot Size Units:Square Feet,M I A M I R E_ Area:3370,M L S Area Major:Progresso,On Market Date:2026-05-28,Parcel Number:494234032080,Property Type:Commercial Land,Street Number:1219,Street Suffix:Terrace,Public Remarks: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.,County Or Parish:Broward County,Direction Faces:East,Documents Count:3,Expiration Date:2027-05-31,Frontage Length:75,List Office Name:United Realty Group Inc.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:4916,Property Sub Type:Agriculture,Road Surface Type:1:Paved,State Or Province:FL,Street Dir Prefix:NE,Subdivision Name:PROGRESSO,Tax Annual Amount:7203,Total Actual Rent:34200,Unparsed Address:1219 NE 5th Terrace, Fort Lauderdale FL 33304,Elementary School:North Side,Listing Agreement:Exclusive Right To Sell,M I A M I R E_ Blogging:1,Road Frontage Type:1:City/County Maintained,2:Paved Road,3:City,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:10129,M I A M I R E_ L P Amt Sq Ft:78.98,M I A M I R E_ Price Acre:3440847,Original List Price:799997,Documents Available:1:Plat Map,2:Survey Available,I D X Participation Y N:1,Syndication Remarks: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 Contract Date:2026-05-28,Originating System I D:miamire,Showing Instructions:24 Hour Notice,Appointment Only,Call Listing Agent,Elect Lockbox-Call List Agent,List Agent Must Accompany,Street Number Numeric:1219,Tax Legal Description:PROGRESSO 2-18 D LOT 13,14,15 BLK 114,Gross Scheduled Income:34200,M I A M I R E_ Current Price:799997,M I A M I R E_ Owner Agent Y N:1,Middle Or Junior School:Sunrise,M I A M I R E_ Total Mortgage:300000,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Geographic Area:Ft Ldale NE (3240-3270;3350-3380;3440-3450;3700),M I A M I R E_ Parcel Number M L X:4942,M I A M I R E_ Supplement Count:3,Contract Status Change Date:2026-05-28,Internet Address Display Y N:1,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:Yes - Attribution Required (Agent and Office),M I A M I R E_ Subdivision Number:3,M I A M I R E_ Acreage Description:1/4 Acre Or Less,M I A M I R E_ Environmental Audit:None,M I A M I R E_ Agent Alternate Phone:954-993-6664,Internet Entire Listing Display Y N:1,M I A M I R E_ Dade Market Amt Assessed Amt:265430,Internet Automated Valuation Display Y N:1,