1219 5th #1-2 ,Duplex, Progresso for Sale

1219 5th #1-2 for Sale

Price $747,850.00

• Lot size 1053
• Year Build 1957
• Waterfront
• Zip 33304
• Style Twin Home, Half Duplex, Twin Homes
• 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,Roof:1:Flat Roof With Facade Front,Sewer:1:Public Sanitation,2:Sewer,Zoning:RMM-25,Cooling:1:Wall/Window Unit(s),Country:United States,List A O R:BeachesMLS,Stories:1,Tax Year:2025,Latitude:26.1412955,Cooling Y N:1,Heating Y N:1,List Price:747850,Listing Id:B26033753,Longitude:-80.1388454,Mls Status:Active,Utilities:1:Other Utilities Available,2:Phone Connected,3:Cable Available,4:Electricity Available,5:Other,6:Phone Available,7:Sewer Available,8:Water Available,Year Built:1957,High School:Fort Lauderdale,Living Area:1053,Possession:1:Long Closing Preferred,2:Negotiable,Postal Code:33304,Street Name:5th,Tenant Pays:1:Water,Unit Number:1-2,Coordinates:1:26.1412955,Lot Features:1:Less Than 1 Acre,Photos Count:37,Days On Market:19,Listing Terms:1:Conventional,2:Cryptocurrency,3:Exchange,4:Owner Will Carry,5:Owner Financing less 20K Down,6:Owner Hold 2nd Mortgage,7:Owtb Wrap,Lot Size Acres:0.23,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:Residential Income,Stories Total:1,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,Documents Count:2,Expiration Date:2027-05-31,List Office Name:United Realty Group Inc.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:4916,Property Sub Type:Duplex,Road Surface Type:1:Paved,State Or Province:FL,Street Dir Prefix:NE,Subdivision Name:PROGRESSO,Tax Annual Amount:7203,Unparsed Address:1219 NE 5th Terrace # 2, 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:Paved Road,Year Built Details:Resale,Building Area Total:1053,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Dimensions:75x135,M I A M I R E_ L P Amt Sq Ft:710.2089,M I A M I R E_ Num Floors:1,M I A M I R E_ Num Meters:4,Original List Price:799997,Previous List Price:799997,Architectural Style:1:Half Duplex,2:Twin Homes,Building Area Source:Appraisal,Documents Available:1:Other Documents Available,I D X Participation Y N:1,Number Of Units Total:2,Property Attached 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,Pet On Premises,Text Agent Phone Number,Street Number Numeric:1219,Tax Legal Description:PROGRESSO 2-18 D LOT 13,14,15 BLK 114,M I A M I R E_ Current Price:747850,M I A M I R E_ Owner Agent Y N:1,Middle Or Junior School:Sunrise,Construction Materials:1:Stucco,M I A M I R E_ Num Leases Year:100,M I A M I R E_ Year Installed:1957,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_ Main Living Area:Entry Level,M I A M I R E_ Parcel Number M L X:4942,M I A M I R E_ Separate Meter Y N:1,M I A M I R E_ Supplement Count:3,Contract Status Change Date:2026-05-28,Internet Address Display Y N:1,M I A M I R E_ Cable Available Y N:1,Number Of Units In Community:2,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_ Num Times Leased Year:100,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,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:710.21,Internet Automated Valuation Display Y N:1,