1025-1027 NE 16 Terrace, Fort Lauderdale, FL 33304 (MLS# R11132122)

1025-1027 NE 16 Terrace, Fort Lauderdale, FL 33304

$585,000

Virtual Tour

https://www.propertypanorama.com/10251027-NE-16-Terrace-Fort-Lauderdale-FL-33304/unbranded

Property Type: Residential Income Square Footage: 6,753 Status: Closed

Current Price: $585,000 List Date: 10/28/2025 Last Modified: 4/16/2026

Overview

Description

Don't miss this great investment opportunity in Lake Ridge! This Quadplex needs work to become an updated property. It is currently rented & offers strong income potential. Or, if preferred, it can be quickly readied for tear down. It's in a prime walkable location near downtown, beaches, shopping, and dining. The lot includes two buildings: a one-story with two 1/1s, and a two-story with two 2/1s, one of which has 25 feet ceilings. Each unit features a private yard or patio. Each building has separate water meters, and each unit has its own electric meter. Please do not disturb tenants or walk the property without an appointment.

Listing Details MLS# R11132122

General Property Information

Number Of Units Total: 4
Property Sub Type: Quadruplex
Building Area Main: 6753
Building Area Source: Public Records
Living Area Main: 4223
Year Built: 1960
Gated Community YN: No
Lot Size Area: 6753
Lot Size Acres: 0.16
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories: 2
Pool Private YN: No

Property Features

Association Amenities: None Documents Available: Other Electric: Three Phase Flooring: Tile Property Condition: Resale Structure Type: Quadruplex Tenant Pays: Electricity Source Of Expenses: Owner Provided Construction Materials: Frame Cooling: Ceiling Fan(s); Wall/Window Unit(s) Heating: Other Listing Terms: Cash; Other Possession: Negotiable Restrictions: No Restrictions Roof: Other Sewer: Public Sewer Storm Protection Details: None Tax Information: No Homestead Utilities: Cable Available; Sewer Available; Water Available Water Access: None Water Source: Public Showing Requirements: 24 Hour Notice; Appointment Only; Occupied; Text Listing Agent Occupant Details: Tenant Occupied Outdoor Living Spaces: Deck; Patio Patio Details: Patio - Covered; Patio - Open Unit 1 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 1 Other Equipment: Air Conditioning Unit Unit 1 Parking Features: Parking Space Unit 2 Appliances: Dryer; Range; Refrigerator; Washer Unit 2 Other Equipment: Air Conditioning Unit Unit 2 Parking Features: Parking Space Unit 3 Appliances: Dishwasher; Range; Refrigerator; Washer Unit 3 Interior Features: Cathedral/Vaulted Ceiling(s) Unit 3 Other Equipment: Air Conditioning Unit Unit 3 Parking Features: Parking Space Unit 4 Other Equipment: Air Conditioning Unit Unit 4 Parking Features: Parking Space Contingencies: Financing Acreage Description: Less Than 1/4 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 799000
Negotiable Seller Concessions YN: Yes

Location and Legal

Country: United States
County Or Parish: Broward
County Parish Name: Broward
Street Number: 1025-1027
Street Direction Prefix: NE
Street Name: 16
Street Suffix: Terrace
City Name: Fort Lauderdale
State Or Province: FL
Postal Code: 33304
Postal Zip: 33304
Subdivision Name: Progresso
Area: 3380
Geographic Area: FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Parcel Number: 494234045650
Zoning: RMM-25
Directions: 95 to Sunrise Blvd. East to NE 15t Ave. make a left at NE 11th St. make a right and make another right onto NE 16th Terrace.

Financial Information

Tax Annual Amount: 15157
Tax Year: 2024
Tax Legal Description: PROGRESSO 2-18 D LOT 6 BLK 170

Status Change Information

Major Change Timestamp: 2026-04-16T15:37:00Z
Major Change Type: Status Change
Price Change Timestamp: 2025-12-07T14:54:52Z
Status Change Date: 2026-04-16
Under Contract Date: 2026-01-25
Close Date: 2026-04-14
Close Price: 585000
Buyer Financing: Private

More Information

Meter Information

Separate Electric Meters YN: Yes
Separate Water Meters YN: No

Short Sale Details

Short Sale Addendum: No

Income and Expenses

Annual Total Expense: 19200
Gross Income: 96000
Net Operating Income: 76000

Showing Details

Pet(s) on Premises: No

Unit 1 Details

Baths Full: Yes
Furnished: Unfurnished
SqFt: 600
Actual Rent: 0

Unit 2 Details

Baths Full: Yes
Furnished: Unfurnished
SqFt: 600
Actual Rent: 0

Unit 3 Details

Baths Full: Yes
Furnished: Unfurnished
SqFt: 915
Actual Rent: 0

Unit 4 Details

Baths Full: Yes
Furnished: Unfurnished
SqFt: 915
Actual Rent: 0

Buyer Details

Country of Origin: United States
Intended Use: Investment
Buyer State: Florida

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: No

Price Calculations

Current Price To SqFt: 177.59

Originating Details

Originating System Key: 20251012154526021483000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Association Amenities

None: Yes

Electric

Three Phase: Yes

Flooring

Tile: Yes

Property Condition

Resale: Yes

Documents Available

Other: Yes

Structure Type

Quadruplex: Yes

Tenant Pays

Electricity: Yes

Possession

Negotiable: Yes

Sewer

Public Sewer: Yes

Utilities

Cable Available: Yes
Sewer Available: Yes
Water Available: Yes

Heating

Other: Yes

Water Access

None: Yes

Construction Materials

Frame: Yes

Listing Terms

Cash: Yes
Other: Yes

Roof

Other: Yes

Water Source

Public: Yes

Source Of Expenses

Owner Provided: Yes

Cooling

Ceiling Fan(s): Yes
Wall/Window Unit(s): Yes

Showing Requirements

24 Hour Notice: Yes
Appointment Only: Yes
Occupied: Yes
Text Listing Agent: Yes

Restrictions

No Restrictions: Yes

Storm Protection Details

None: Yes

Tax Information

No Homestead: Yes

Occupant Details

Tenant Occupied: Yes

Outdoor Living Spaces

Deck: Yes
Patio: Yes

Patio Details

Patio - Covered: Yes
Patio - Open: Yes

Contingencies

Financing: Yes

Unit 1 Appliances

Dishwasher: Yes
Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Unit 1 Other Equipment

Air Conditioning Unit: Yes

Unit 1 Parking Features

Parking Space: Yes

Unit 2 Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Unit 2 Other Equipment

Air Conditioning Unit: Yes

Unit 2 Parking Features

Parking Space: Yes

Unit 3 Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Unit 3 Interior Features

Cathedral/Vaulted Ceiling(s): Yes

Unit 3 Other Equipment

Air Conditioning Unit: Yes

Unit 3 Parking Features

Parking Space: Yes

Unit 4 Other Equipment

Air Conditioning Unit: Yes

Unit 4 Parking Features

Parking Space: Yes

Acreage Description

Less Than 1/4 Acre Lot: Yes

Listing Office: CENTURY 21 Tenace Realty

Last Updated: April - 16 - 2026

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1025-1027 NE 16 Terrace, Fort Lauderdale, FL 33304 (MLS# R11132122)