1219 NE 5th Terrace #1-2, Fort Lauderdale, FL 33304
Local realty services provided by:CENTURY 21 Move With Us
Listed by: michael sheer, wayne c charneco
Office: united realty group inc.
MLS#:B26033753
Source:FL_RAMC
Price summary
- Price:$679,850
- Price per sq. ft.:$645.63
About this home
Rare opportunity to acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 40% below market value. Located on NE 5th Terrace, less than one block from NE 13th Street, the property is under a 60 second walk from the heart of Studio City: Fort Lauderdale's emerging arts and entertainment district, featuring an eclectic mix of independent businesses like Gulfstream Brewing Co, Lovelee Bakeshop, Radio-Active Records and other popular neighborhood destinations. Situated at the crossroads of Flagler Village & Wilton Manors, the area offers a vibrant, walkable neighborhood experience with a youthful, creative energy often compared to early Wynwood. Surrounded by ongoing new development, the area continues to attract investors & developers who recognize its long term potential. This property should not be viewed solely as a duplex or solely as a land play; the true value is in both. The existing duplex (that has separate water & electric meters) can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 10 units, without tearing down the current structure. The included site plan shows viable layout, parking, & access. A preliminary development meeting with the city has been held; representatives from every relevant department (planning, zoning, engineering, landscape, etc) were present and confirmed that the site plan is feasible and compliant with current code and zoning regulations. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(fully 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+ instant equity upon completion. Potential ~10% cap rate. Seller will finance. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information....
Contact an agent
Home facts
- Year built:1957
- Subdivision & Development:PROGRESSO
- Listing ID #:B26033753
- Added:16 day(s) ago
- Updated:September 17, 2026 at 04:41 PM
Rooms and interior
- Flooring:Terrazzo
- Living area:1,053 sq. ft.
Heating and cooling
- Cooling:Ceiling Fans, Wall/Window Unit(s)
- Heating:Wall Furnace
Structure and exterior
- Roof:Flat Tile
- Year built:1957
- Building area:1,053 sq. ft.
- Construction Materials:Block, Concrete
- Levels:1 Story
Schools
- High school:Fort Lauderdale
- Middle school:Sunrise
- Elementary school:North Side
Finances and disclosures
- Price:$679,850
- Price per sq. ft.:$645.63
- Tax amount:$7,203 (2025)
New listings near 1219 NE 5th Terrace #1-2
- Coming Soon
$685,000Coming Soon2 beds 2 baths1,500 sq. ft.1905 N Ocean Blvd #3D, Fort Lauderdale, FL 33305
MLS# A12074507Listed by: ONE SOTHEBY'S INTERNATIONAL REALTY - New
$1,200,000Active3 beds 3 baths1,823 sq. ft.815 NE 17th Avenue #5, Fort Lauderdale, FL 33304
MLS# B26077321Listed by: FLORIDA LUXURIOUS PROPERTIES - New
$2,398,000Active3 beds 3 baths2,129 sq. ft.2648 NE 34th Street, Fort Lauderdale, FL 33306
MLS# B26077323Listed by: COMPASS FLORIDA, LLC - New
$365,000Active2 beds 2 baths903 sq. ft.815 Middle River Drive #202, Fort Lauderdale, FL 33304
MLS# B26077354Listed by: COMPASS FLORIDA, LLC - New
$150,000Active2 beds 2 baths1,030 sq. ft.2151 NE 68th St #209, Fort Lauderdale, FL 33308
MLS# A12090975Listed by: CLICK TO LIST LLC - New
$1,200,000Active3 beds 2 baths1,495 sq. ft.2041 NE 30th Street, Fort Lauderdale, FL 33306
MLS# B26077286Listed by: COLDWELL BANKER/BR - New
$580,000Active2 beds 2 baths1,198 sq. ft.3015 N Ocean Boulevard #5G, Fort Lauderdale, FL 33308
MLS# B26077278Listed by: ONE SOTHEBY'S INT'L REALTY - New
$259,900Active2 beds 1 baths750 sq. ft.2840 NE 33rd Court #2, Fort Lauderdale, FL 33306
MLS# B26077205Listed by: SUNSHINE SIGNATURE HOMES
$799,919Active3 beds 4 baths1,597 sq. ft.113 NE 6 #4621, Fort Lauderdale, FL 33304
MLS# A12033839Listed by: CAPITAL BROKERS, LLC.- New
$545,000Active-- beds -- baths816 sq. ft.3633 SW 12th, Fort Lauderdale, FL 33312
MLS# A12088711Listed by: EXP REALTY LLC