SQUARE FEET1,053
MLS#B26033810
STATUSActive
PROPERTY TYPECommercial - Business
Property Description
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.
Property Features
Property Type: Commercial - Business
Cooling: Ceiling Fan(s), Wall/Window Unit(s)
Heating: Window/Wall
Lot Size: 0.23 Acres
Roof Type: Shingle
Stories: 1.0
Taxes: $7,203
Year Built: 1957
Feature Descriptions
Days on Site: 25
Exterior: Stucco, CBS, Concrete Block - With Stucco
Fencing: Wood
Flooring: Terrazzo
Parcel#: 494234032080
Parking: Assigned, Covered, Guest, Accessible Parking
Parking Notes: Assigned, Covered, Guest, Accessible Parking
Sewer: Public Sewer
Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Connected, Water Connected
Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Connected, Water Connected
Water: Public
Listed By / Shown By
Listed By
Agency Name: United Realty Group Inc.
Agency Phone: 954-450-2000
Shown By
Agency Title: Realty 100
Agency Phone: 954-859-2100
1219 NE 5th Terrace, Unit 1-2 | MLS# B26033810
This commercial property located at 1219 NE 5th Terrace, Unit 1-2, Fort Lauderdale, FL 33394 is currently listed for sale with an asking price of $747,850. Search Fort Lauderdale real estate on www.realty100.com today.