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Land in Fort Lauderdale, FL 33304
Middle River Terrace, 1219 NE 5th Ter #1-2

Overview Features True Comps Price History Payment Location Similar Homes

799,997-6.52%

$747,850

Estimate Payment

0.23

Acre

Status

Active

Size

0.23 Acres (941 m²)

Price

$3,251,522/Acre ($795/m²)

Type

Land

MLS Number

B26033788

On Site

53 Days

Updated

3 Days ago

Page Views

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 35% below market value. Located on NE 5th Terrace, less than one block from... Read more

Features

All features

Current Use: MultiFamily
Approx SqFt Total Area: 10129
Property SqFt: 10129
Remarks: 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 35% 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.
REO: Standard
Internet Remarks: 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 35% 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.
Waterfront: No info
Directions: East
Days on Market: 33
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

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Price History

Current

$748K

High

$800K

Low

$748K

Total Change

-6.5%

Date

Event

Price

Change

Price Per

06/16/2026

Price Reduced

$748K

-6.52%

$74 ft²

$795 m²

05/28/2026

Listed

$800K

$79 ft²

$850 m²

06/16/2026

$748K

Event

Price Reduced

Change

-6.52%

Price Per

$74 ft²

$795 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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1 to 5 BR

Bedrooms

$185K to $1.7M

Price Tier

366 - 9,743

SqFt Range

1960

Year Build

Total Floors

Fort Lauderdale
Mid-Tier
Mid-Tier Homes & Condos

Middle River Terrace Communities in Fort Lauderdale, FL

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity' Program of the Regional Multiple Listing Service of Miami Dade, Broward, Palm Beach, Collier and Lee Counties. Not all listings found on this site are necessarily listed through Subdivisions.com. Real estate listings held by brokerage firms other than Subdivisions.com are marked with the Broker Reciprocity' logo or the Broker Reciprocity' thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

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