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1219 NE 5th Terrace 1-2 Fort Lauderdale, FL $ 679,850
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$ 679,850 Get more info
1219 NE 5th Terrace 1-2
$ 679,850
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1219 NE 5th Terrace 1-2

Fort Lauderdale, FL, 33304
$ 679,850
Baths0.0 Sq 1,053

Monthly Estimate*

$ 4,293

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View a Virtual Tour
Studio

Multi-Family Home for sale in Fort Lauderdale, FL

for $679,850. This 1,053 square foot home was built in 1957 on a lot size of 0.23.

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.

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Multi-Family Active

Price

$ 679,850

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 7,203

Style

Lot Size

0.23

Year Built

1957

Town/City

Fort Lauderdale

County/Region

Broward

MLS | Web ID

B26033753
Features
General
Sewer Public Sewer
Heating Wall Furnace
Cooling Ceiling Fan(s) Wall/Window Unit(s)
Utilities Cable Available Electricity Connected Other Phone Available Sewer Connected Water Connected
Possession Negotiable
Roof Flat
Patio/Porch Features Patio Porch
Construction Materials Block Stucco
Pets Allowed No Pet Restrictions Yes
Year Built 1957
Tenant Pays Electricity Sewer Water
Stories Count 1
Levels One
Unit Number 1-2
Property Subtype Duplex
Tax Year 2025
Accessibility None
County Broward
New Construction false
Property Type Residential Income
Subdivision Name PROGRESSO
Status Active
High School Fort Lauderdale
City Fort Lauderdale
Disclosures Owner Is Listing Agent
Senior Community Y/N false
Number Of Units Total 2
MLS Area 3370
Elementary School North Side
Tax Annual Amount 7203.21
Middle/Junior High School Sunrise
Property Condition Resale
MLS Area Minor FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Virtual Tour https://www.propertypanorama.com/1219-NE-5th-Terrace-Unit-12-Fort-Lauderdale-FL-33304/unbranded
Standard Status Active
Property Sub Type Additional Duplex
Legal Description PROGRESSO 2-18 D LOT 13 14 15 BLK 114
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Interior
Flooring Terrazzo
Total Stories 1
Air Conditioning Y/N true
Heating Y/N true
Window Features Storm Window(s)
Total Baths 0
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Exterior
Exterior Amenities Outdoor Living Area Other
Lot Features < 1/4 Acre
Water Source Multiple Meters Public
Total Parking 6
Lot Size Area 10018.8
Spa false
Building Area Total 1053
Lot Dimensions 75 x 135
Lot Size Acres 0.23
Road Surface Type Paved
Waterfront Y/N false
Road Responsibility Public Maintained Road
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* Excluded Features
List By
Michael J Sheer

Listing Agent

Affordability Calculator

$4,893
Per Month
88%
12%
0%
Monthly Principal & Interest
$4,293
Monthly Property Taxes
$600
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4678045 Elementary School
4205704 Middle School
Fort Lauderdale High School High School
See complete school information
Pricing History
Date Price Price Change Description
8/31/2026 $679,850 -6.85% Price Down
7/28/2026 $729,850 -2.41% Price Down
6/16/2026 $747,850 -6.52% Price Down
5/28/2026 $799,997 Listed Price

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1219 NE 5th Terrace 1-2, Fort Lauderdale, FL, 33304 is a Multi-Family Home for sale at $679,850 with 1,053 sqft and a lot size of 0.23. 1219 NE 5th Terrace 1-2 is a studio with 0.0 baths and was built in 1957. The property's zip code is 33304 which is in Fort Lauderdale, FL

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