Middle River Terrace, 1219 NE 5th Ter #1-2 Land in Fort Lauderdale, FL 33304
$799,997
0.23
AcreStatus
Active
Size
0.23 Acres (941 m2)
Price
$3,478,248/Acre ($850/m2)
Type
Land
MLS Number
B26033788
On Site
16 Days
Updated
7 Days ago
Page Views
0
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 ... Read more
Features
All features
- Current Use: MultiFamily
- Approx SqFt Total Area: 10129
- Property SqFt: 10129
- Remarks: 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.
- REO: Standard
- Internet Remarks: 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.
- Waterfront: No info
- Directions: East
- Days on Market: 8
- Compass Point: NE
- Office Name: United Realty Group Inc.
- Taxes: 7203.21
- Tax Year: 2025
- Listing Date: 2026-05-28T11:55:00.000-00:00
- Lot Size Square Feet: 10129
Apples-to-Apples Comparables
Price History
Date
Event
Price
Change
Price Per
05/28/2026
Listed
$800K
$79 ft2
$850 m2
05/28/2026
$800K
Event
Listed
Price Per
$79 ft2
$850 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Michael Sheer • United Realty Group Inc. • Buyer Agency Compensation .
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