$679,850

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… Read More 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. Read Less

Courtesy of United Realty Group Inc. 954-450-2000

Listing Snapshot

Days Online

Last Updated

Sep 1, 2026

Property Type

Duplex

Square Ft.

1,053

Lot Size

0.23 Acres

Year Built

1957

MLS Number

B26033753

30 Days Snapshot Of 33304

$1.19M

+15%

(avg) sold price

-41%

homes sold

138

-24%

(avg) days on market

Snapshot

Area Map

Additional Details

Building

Built in 1957, Living area: 1053, Construction materials: CBS, Stucco, Toal building area: 1053, 2 total units

Cooling

Ceiling Fan(s), Wall/Window Unit(s)

Floors

Terrazzo

Heating

Window/Wall

Lot

0.23 acres

Pets Policy

Pets allowed: Yes, No Restrictions

Property

Patio and porch features: Porch, Patio, Porch - Open, Patio - Open, Zoning: RMM-25

Roof

Flat

Sewer

Public Sewer

Taxes

Annual amount: $7,203

Tenant Pays

Electricity, Sewer, Water

Utilities

Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected, Other

Windows

Storm Window(s)

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1219 NE 5th Terrace Unit 1-2

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