1219 NE 5th Terrace, Fort Lauderdale, FL 33304

Opis nieruchomości — 1219 NE 5th Terrace, Fort Lauderdale, FL 33304

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.

Opis oryginalny z MLS (w języku angielskim).

Szczegóły nieruchomości — 1219 NE 5th Terrace, Fort Lauderdale, FL 33304

Basen prywatny

Nie

Ekspozycja

Wschód

Informacje o budynku — 1219 NE 5th Terrace, Fort Lauderdale, FL 33304

Jednostka powierzchni

Stopy kwadratowe (sq ft)

Wspólnota (HOA)

Nie

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

Cechy działki

Działka poniżej 1/4 akra, Poniżej 1 akra

Powierzchnia działki (sq ft)

0

Nad wodą

Nie

Linia brzegowa

75

Widok

Nie

Kanalizacja

Kanalizacja publiczna, Kanalizacja miejska, Kanalizacja

Ujęcie wody

Sieć publiczna

Nowe budownictwo

Nie

Dane z rejestrów publicznych — 1219 NE 5th Terrace, 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

Szkoły w pobliżu — 1219 NE 5th Terrace, Fort Lauderdale, FL 33304

Szkoła podstawowa (elementary)

North Side

Szkoła średnia (middle school)

Sunrise

Liceum (high school)

Fort Lauderdale

Przypisanie do szkół pochodzi z danych oferty — należy je zweryfikować we własnym zakresie.

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