$ 747,850
-
$747,850
Price -
2
Bed -
2
Bath -
1,053
SqFt
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About the Listing URGI07 - 3355952,3206892
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 Highlights
Interior Details
- Bedrooms: 2
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Ceiling Fan(s),Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor: Terrazzo
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Pets Allowed
- Water: Multiple Meters,Public
Exterior Details
- Lot Description: < 1/4 Acre
- Garage Capacity: N/A
- Parking Spaces: 6
- Lot Dimensions: 75 x 135
- Zoning: RMM-25
- Roof: Flat
- Others: Outdoor Living Area
- Sewer: Public Sewer
Financial Details
- Tax Amount: $7,203
- Taxes w/Assessments: $265,430
- Tax/Property ID: 494234032080
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1219 NE 5th Terrace 1-2 Fort Lauderdale, FL 33304
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