1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

Opis nieruchomości — 1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

50% OFF: This is how to generate great returns in today's market while protecting your downside. Acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity (the right to build 8 more units) in Fort Lauderdale's rapidly developing Studio City at approximately 50% below market value. 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 is fairly renovated and 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 has been held with the city; 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. Recently sold multi-family land comps: $117k-$141k per unit. Active multi-family land comps: $124k-$177k per unit. Recently sold multi-family (existing building) comps: $312k-$375k per unit. Active multi-family (existing building) comps: $297k-$372k per unit. Subject property: fairly renovated duplex + 8 units of buildable land; market value ~$1.2M. Build cost ~$1.2M. All in:~$1.9M. Projected value:$3M+ = $1M+ instant equity upon completion. 1 bedroom apartment rents:$1.6k-$2.3k/mo. Potential ~10% cap rate. Seller will finance. 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. 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.

Opis oryginalny z MLS (w języku angielskim).

Szczegóły nieruchomości — 1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

Podłogi

Lastryko (terrazzo)

Ogrzewanie

Ścienne / okienne

Klimatyzacja

Wentylator(y) sufitowe, Klimatyzator ścienny / okienny

Parking

Miejsce przypisane, Awning, Zadaszone, Miejsca dla gości

Basen prywatny

Nie

Informacje o budynku — 1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

Powierzchnia budynku

1053

Jednostka powierzchni

Stopy kwadratowe (sq ft)

Kondygnacje

1

Liczba kondygnacji

1

Wspólnota (HOA)

Nie

Ochrona i zabezpieczenia

Other Fire Protection, Inne

Informacje o działce i budowie — 1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

Cechy działki

Działka poniżej 1/4 akra, Poniżej 1 akra

Powierzchnia działki (sq ft)

10,129

Nad wodą

Nie

Widok

Nie

Materiały konstrukcyjne

Konstrukcja z pustaków betonowych (CBS), Tynk

Dach

Gont bitumiczny, Gont

Kanalizacja

Kanalizacja publiczna, Kanalizacja miejska, Kanalizacja

Ujęcie wody

Sieć publiczna

Nowe budownictwo

Nie

Dane z rejestrów publicznych — 1219 NE 5th Terrace # 1-2, Fort Lauderdale, FL 33304

Numer działki (folio)

494234032080

Roczny podatek od nieruchomości

$7,203

Rok podatkowy

2,025

Opis prawny (rejestr)

PROGRESSO 2-18 D LOT 13,14,15 BLK 114

Strefa zagospodarowania

RMM-25

Hrabstwo

Hrabstwo Broward

Lokalizacja