1020 NE 16th Terrace

Listing Snapshot

Price

$579,000

Days on Site

45 Days

Bedrooms

0

Total Baths

0

Living Area

1,104 sqft

Total Sq Ft

1,104 sqft

Year Built

1951

Property Type

Multi-Family

MLS #

A11874270

Property Tax

$7,278 (2024)

Subdivision

Lake Ridge Progresso

Development

Lake Ridge

County

Broward

Status

Sold

About This Property

Redevelopment opportunity in the heart of Fort Lauderdale’s Lake Ridge neighborhood. This duplex sits on a 6,750 sq ft lot and is zoned RMM-25, allowing up to 25 units per acre with a maximum building height of 55 feet. Current use is a 2-unit duplex (2/1 + 1/1), providing immediate rental income while planning future development.Ideal for developers and investors, this site can support three townhomes or explore potential density bonuses with affordable/workforce housing programs. Located just minutes from Las Olas, Downtown, and the beach, Lake Ridge continues to attract new construction townhomes and multifamily projects. *Buyer to verify all zoning and density requirements with the municipality

General Features

Property Type

Multi-Family

Status

Sold

Year Built

1951

Property Condition

Resale

Number of Stories

1

Living Sq Ft

1,104

Total Sq Ft

1,104

Structure Type

Duplex

Sewer

Public Sewer

Water Source

Public

Zoning

RMM-25

Interior Features

Cooling

Wall Window Units

Heating

Separate Meters / Wall Furnace

Flooring

Terrazzo

Exterior Features

Construction

Block / Stucco

Roof

Flat / Shingle / Tile

Waterfront Features

None

Community & HOA

Utilities

Cable Available

Financing Terms

Conventional / FHA / Va Loan

MLS Area

3380

Features & Amenities