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1020 NE 16th Ter Fort Lauderdale, FL 33304
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Key Details
Sold Price $515,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,104 sqft
Price per Sqft $466
Subdivision Lake Ridge Progresso
MLS Listing ID A11874270
Sold Date 11/18/25
HOA Y/N No
Year Built 1951
Annual Tax Amount $7,278
Tax Year 2024
Contingent Pending Inspections
Property Sub-Type Duplex
Property Description
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
Location
State FL
County Broward
Community Lake Ridge Progresso
Area 3380
Direction You cannot enter from Sunrise Blvd — navigation apps may route you that way, but there is no access. Enter the neighborhood from US-1 or NE 15th Ave to reach NE 16th Terrace.
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Terrazzo
Exterior
Pool None
Utilities Available Cable Available
Roof Type Flat,Shingle,Tile
Total Parking Spaces 4
Private Pool No
Building
Lot Description < 1/4 Acre
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Brick,Block,Stucco
Others
Tax ID 494234045530
Acceptable Financing Conventional, FHA 203(k), FHA, VA Loan
Listing Terms Conventional, FHA 203(k), FHA, VA Loan
Financing Cash
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Bought with Keller Williams Realty Service