Curious about this home?
Ask anything — no agents, no pressure
Try asking
About This Home
This 0-bedroom, 0-bathroom residential multi family at 1219 NE 5th Terrace in Fort Lauderdale, FL is listed for $799,997 ($760 per sqft). Built in 1957, the home offers 1,053 sqft of living space on a 0.23 acres lot.
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.
Key Features
- Built in 1957
- 0.23 acre lot
- 11 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$4,279/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1219 NE 5th Terrace
Fort Lauderdale, FL
Property Details
Flooring
Construction
Parking
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 1219 NE 5th Terrace is listed at $799,997 ($760/sqft). The estimated monthly payment is $3,467 based on 20% down at 6.5% interest.
Key features include: Built in 1957, 0.23 acre lot, 11 parking spaces.
This property is listed by Michael J Sheer and can be reached at 9549936664 or MikeSheerRealtor@gmail.com.
