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 ft. Current use is a 2-unit duplex (2/1 +

1020 NORTH EAST 16TH TER, Fort Lauderdale

$699,999 USD
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Address1020 NORTH EAST 16TH TER, Fort Lauderdale
Building NameLake Ridge Progresso
Type of PropertyDuplex
Property StyleDuplex
Price$699,999
Property StatusActive
MLS NumberA11874270
Living Area1104
Year Built1951
Parking Space Number4
Folio Number494234045530
Zoning InformationRMM-25
Days on Market19

Detailed 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 ft. 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

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Address Information
StateFlorida
CityFort Lauderdale
CountyBroward County
Zip Code33304
Address1020 NORTH EAST 16TH TER
Section34
Zip Code (4 Digits)2331
Financial Information
Price$699,999
Price per Foot$0
Folio Number494234045530
Tax Amount$7,278
Tax Year2024
Full Descriptions
Detailed DescriptionRedevelopment 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 ft. 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
How to ReachYou 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.
Water AccessNone
Roof DescriptionFlat Tile, Shingle
Floor DescriptionTerrazzo
Cooling DescriptionWall / Window Unit (s)
Heating DescriptionWindow / Wall
Water DescriptionMunicipal Water
Sewer DescriptionPublic Sewer
Property parameters
Living Area1104
Zoning InformationRMM-25
Year Built1951
Type of PropertyDuplex
StyleDuplex
Building NameLake Ridge Progresso
Development NameLake Ridge Progresso,Lake Ridge
Construction TypeConcrete Block With Brick,CBS Construction,Stucco
Stories Number1.000
Street DirectionNorth East
Parking Space Number4
Listed withKeller Williams Realty Service