Sold for $515,000

$515,000

1020 NE 16th Ter, Fort Lauderdale, FL 33304

3beds

2baths

1,104sqft

Duplex

Built in 1951

-- sqft lot

$518,000 Zestimate^®

$466/sqft

$2,779 Estimated rent

Home value

$518,000

$466,000 - $580,000

$2,779/mo

Zestimate^® history

Owner options

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$2,779/mo

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$2,779/mo

Rent Zestimate^®

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$3,686/mo

Est. payment

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$3,686/mo

Est. payment

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What's special

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

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2

Heating

Window/Wall

Cooling

Wall/Window Unit(s)

Features

Flooring: Terrazzo

Interior area

Total structure area: 1,104
Total interior livable area: 1,104 sqft

Property

Parking

Total spaces: 4

Features

Stories: 1

Lot

Features: Less Than 1/4 Acre Lot

Details

Parcel number: 494234045530
Zoning: RMM-25

Construction

Type & style

Home type: MultiFamily
Architectural style: Ranch
Property subtype: Duplex

Materials

Block, CBS Construction, Stucco
Roof: Flat Tile,Shingle

Condition

Year built: 1951

Utilities & green energy

Sewer: Public Sewer
Water: Municipal Water

Community & HOA

Community

Subdivision: Lake Ridge Progresso,Lake Ridge

HOA

Has HOA: No

Location

Region: Fort Lauderdale

Financial & listing details

Price per square foot: $466/sqft
Annual tax amount: $7,278
Date on market: 9/8/2025
Listing terms: Conventional,FHA 203K,FHA-Va Approved,VA Loan

Price history

Date	Event	Price
11/18/2025	Sold	$515,000-11.1%$466/sqft
Source: MIAMI #A11874270 Report a problem
10/23/2025	Pending sale	$579,000$524/sqft
Source: MIAMI #A11874270 Report a problem
10/9/2025	Price change	$579,000-17.3%$524/sqft
Source: MIAMI #A11874270 Report a problem
9/8/2025	Listed for sale	$699,999-7.9%$634/sqft
Source: MIAMI #A11874270 Report a problem
5/16/2025	Listing removed	$760,000$688/sqft
Source: Douglas Elliman #A11733031 Report a problem
3/17/2025	Price change	$760,000-2.6%$688/sqft
Source: MIAMI #A11733031 Report a problem
2/28/2025	Price change	$780,000-2.5%$707/sqft
Source: MIAMI #A11733031 Report a problem
1/28/2025	Listed for sale	$799,999$725/sqft
Source: MIAMI #A11733031 Report a problem