1219 5th #1-2 ,Multi Family for Sale & Rent

1219 5th #1-2 for Sale & Rent

Price $747,850.00

• Lot size 10129
• Year Build 1957
• Waterfront
• Zip 33304
• Style
• Parking Description Assigned, Awning, Covered, Guest
• Pool Yes
• Status Active

Description

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 35% 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.

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

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

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 35% 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.

City:Fort Lauderdale,Roof:1:Shingle,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:B26033810,Longitude:-80.1388454,Mls Status:Active,Utilities:1:Electricity Available,2:Phone Available,3:Sewer Available,4:Water Available,Year Built:1957,Inclusions:Building Only, Business And Building,Possession:1:Long Closing Preferred,2:Negotiable,Postal Code:33304,Street Name:5th,Unit Number:1-2,Coordinates:1:26.1412955,Lot Features:1:Less Than 1 Acre,Photos Count:38,Days On Market:33,Listing Terms:1:Conventional,2:Cryptocurrency,3:Exchange,4:Owner Will Carry,5:Owner Hold 2nd Mortgage,Lot Size Acres:0.23,Lot Size Units:Square Feet,M I A M I R E_ Area:3370,On Market Date:2026-05-28,Parcel Number:494234032080,Parking Total:11,Property Type:Commercial Sale,Stories Total:1,Street Number:1219,Street Suffix:Terrace,Public Remarks: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 35% 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.,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,Parking Features:1:Awning,2:Covered,3:Guest,Postal Code Plus4:4916,Property Sub Type:Multi Family,State Or Province:FL,Street Dir Prefix:NE,Tax Annual Amount:7203,Unparsed Address:1219 NE 5th Terrace # 2, Fort Lauderdale FL 33304,Listing Agreement:Exclusive Right To Sell,M I A M I R E_ Blogging:1,Security Features:1:Other,Building Area Total:1053,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:10129,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,Building Area Source:Appraisal,Documents Available:1:Site Plans,I D X Participation Y N:1,Syndication Remarks: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 35% 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.,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,Street Number Numeric:1219,Tax Legal Description:PROGRESSO 2-18 D LOT 13,14,15 BLK 114,Electric On Property Y N:1,M I A M I R E_ Current Price:747850,M I A M I R E_ Owner Agent Y N:1,Construction Materials:1:Stucco,M I A M I R E_ Total Mortgage:300000,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_ 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,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_ Parking Space Number:11,M I A M I R E_ Agent Alternate Phone:954-993-6664,M I A M I R E_ Approx Sqft Total Area:10129,M I A M I R E_ Property Description:MULTIFAMILY,Internet Entire Listing Display Y N:1,M I A M I R E_ Dade Market Amt Assessed Amt:450800,Internet Automated Valuation Display Y N:1,