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1219 NE 5th Terrace # 2, Fort Lauderdale FL 33304

Multi-family For Sale
$747,850

BTC: 12.25983607

ETH: 453.24242424

-$52K (2026/06/16)
26 days
0 room(s)
1,053 sqft

Overview

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.

Location

Details

Type:
Residential Income
Parking:
No Data
Year Built:
1957
Lot:
0.23 Acres
Heating:
Window/Wall
Price/sqft:
$710
Cooling:
Ceiling Fan(s) / Wall/Window Unit(s)
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$476,890
$410K – $617K
Confidence Low
List vs. estimate
$270K above estimate
List $747,850 · +56.8%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$710
+78.0% vs. city median $398
Based on
12 MLS comparables
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$7,203
2025
Pets
Allowed
All facts and features
  • Flooring

    • Terrazzo

    Heating

    • Window/Wall

    Cooling

    • Ceiling Fan(s)

    • Wall/Window Unit(s)

  • Property

    • Levels: 1

    • Exterior Features: Other

    Lot

    • Lot: 0.23 Acres

    Other Property Information

    • Parcel Number: 494234032080

    • Zoning: RMM-25

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Duplex

  • Utility

    • Cable Connected

    • Other Utilities Available

    • Phone Connected

    • Cable Available

    • Electricity Available

    • Other

    • Phone Available

    • Sewer Available

    • Water Available

  • Other financial information

    • Annual tax amount: $7,203

  • Source details

    • MLS ID: B26033753

    Other facts

    • Construction Materials: CBS Construction / Stucco

    • Lot Features: Less Than 1/4 Acre Lot / Less Than 1 Acre

    • Patio And Porch Features: Patio

    • Architectural Style: Twin Home / Half Duplex / Twin Homes

    • Living Area: 1053

    • Water Source: Public

    • Lot Size Dimensions: 75x135

    • Subdivision Name: PROGRESSO

Private inquiry
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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: United Realty Group Inc.