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1219 NE 5th Terrace Fort Lauderdale, FL $ 649,850
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$ 649,850 Get more info
1219 NE 5th Terrace
$ 649,850
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Share Save

1219 NE 5th Terrace

Fort Lauderdale, FL, 33304
$ 649,850
Bedrooms-- Baths0.0

Monthly Estimate*

$ 4,488

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Lots and Land for sale in Fort Lauderdale, FL

for $649,850. The lot size is 0.23.

45% OFF: This is how to generate great returns in today's market while protecting your downside. Acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity (the right to build 8 more units) in Fort Lauderdale's rapidly developing Studio City at over 45% below market value. 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 is fairly renovated and 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 has been held with the city; 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. Recently sold multi-family land comps: $117k-$141k per unit. Active multi-family land comps: $124k-$177k per unit. Recently sold multi-family (existing building) comps: $312k-$375k per unit. Active multi-family (existing building) comps: $297k-$372k per unit. Subject property: fairly renovated duplex + 8 units of buildable land; market value ~$1.2M. Build cost ~$1.2M. All in:~$1.9M. Projected value:$3M+ = $1M+ instant equity upon completion. 1 bedroom apartment rents:$1.6k-$2.3k/mo. Potential ~10% cap rate. Seller will finance. 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. 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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Lots and Land Active

Price

$ 649,850

Property Type

Lots and Land

Taxes

$ 7,203

Style

Lot Size

0.23

Town/City

Fort Lauderdale

County/Region

Broward

MLS | Web ID

B26033788
Features
General
Membership Required false
Sewer Public Sewer
Utilities Cable Connected Electricity Connected Phone Connected Sewer Connected Water Connected
Possession Negotiable
Development Status Proposed Site Plan Filed
HOA Fee 0
Property Subtype Unimproved Land
Tax Year 2025
Current Use Multi-Family
Gross Income 34200
County Broward
Property Type Land
Subdivision Name PROGRESSO
Facing Direction East
Possible Use Multi-Family
Status Active
High School Fort Lauderdale
City Fort Lauderdale
Disclosures Owner Is Listing Agent
MLS Area 3370
Lot Size Square Feet 10129
Elementary School North Side
Tax Annual Amount 7203.21
Middle/Junior High School Sunrise
MLS Area Minor FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Additional Parcels Y/N false
Virtual Tour https://www.propertypanorama.com/1219-NE-5th-Terrace-Fort-Lauderdale-FL-33304/unbranded
Standard Status Active
Property Sub Type Additional Unimproved Land
Legal Description PROGRESSO 2-18 D LOT 13 14 15 BLK 114
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Interior
Total Baths 0
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Exterior
Fencing Wood
Lot Features < 1/4 Acre
Water Source Public
Lot Dimensions 75 ft x 135 ft
Lot Size Acres 0.23
Road Surface Type Asphalt Paved
Waterfront Y/N false
Road Frontage Type City Street
Road Responsibility Public Maintained Road
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* Excluded Features
List By
Michael J Sheer

Listing Agent

Affordability Calculator

$5,089
Per Month
88%
12%
0%
Monthly Principal & Interest
$4,488
Monthly Property Taxes
$600
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
10/15/2026 $649,850 -4.41% Price Down
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, Fort Lauderdale, FL, 33304 is a Lots and Land for sale at $649,850 with a lot size of 0.23. 1219 NE 5th Terrace has 0.0 baths. The property's zip code is 33304 which is in Fort Lauderdale, FL

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