Rare income + redevelopment opportunity in Middle River Terrace! Situated on an oversized 9,350 SF lot with approx. 88' frontage and RM-15 zoning, this property features two legal living units: a 2BR/1BA main residence with full kitchen plus a separate legal 1BR/1BA ADU with its own full kitchen. Main home… Read More is 2BR/1BA with full kitchen plus separate legal 1BR/1BA ADU with full kitchen, currently leased at $2,000/mo with utilities included for 1 year—helping offset carrying costs from day one.Ideal for rental income, multigenerational living, guests, or an owner-occupant looking to offset expenses. Spacious interiors, updated kitchen, stainless appliances, mature tropical landscaping and an exceptionally large private backyard. RM-15 zoning offers compelling future development potential, including the possibility of 2–3 townhomes or other multifamily redevelopment, subject to City approval and buyer due diligence. Newer townhouse development directly across the street further highlights the property's long-term potential. Live, rent, hold or redevelop—an increasingly rare combination of income, land and development upside minutes from Wilton Manors, Downtown Fort Lauderdale, Las Olas and the beaches. Main home is 2BR/1BA with full kitchen plus separate legal 1BR/1BA ADU with full kitchen, currently leased at $2,000/mo with utilities included for 1 year—helping offset carrying costs from day one. Rare income-producing property with redevelopment potential in Middle River Terrace. Situated on an oversized approximately 9,350 SF lot with approximately 88 feet of frontage and desirable RM-15 multifamily zoning, this property offers a combination of immediate usability, rental-income potential and long-term development upside.The main residence features 2 bedrooms, 1 bathroom, a full kitchen, spacious living area and dining space. The kitchen offers modern cabinetry, generous counter space and stainless-steel appliances. Large windows provide abundant natural light throughout the home.In addition to the main residence, the property includes a separate legal 1-bedroom, 1-bathroom ADU located along the side of the property. The ADU includes its own full kitchen, creating excellent flexibility for rental income, extended family, guests, a home office or an owner-occupant seeking to offset housing expenses.Together, the property provides the functionality of three bedrooms and two bathrooms distributed between two separate living spaces.The oversized lot offers a large private backyard surrounded by mature tropical landscaping, providing substantial outdoor space while preserving valuable future development potential.RM-15 zoning is a significant component of the property's value. Buyers and developers may explore redevelopment possibilities including two townhomes, potentially three townhomes, or another multifamily configuration, subject to density, setbacks, parking, drainage, utilities and all applicable City of Fort Lauderdale approvals.Newer townhouse construction in the immediate surrounding area, including townhouse development directly across the street, further demonstrates the continued evolution of this neighborhood.Whether the buyer chooses to live in the main residence and rent the ADU, operate both spaces as an investment, hold the property for appreciation, or pursue redevelopment, this property offers multiple paths to create value.Conveniently located near Wilton Manors, Downtown Fort Lauderdale, Flagler Village, Las Olas, beaches, restaurants, shopping and major transportation corridors.Offered at $624,900.Buyer and buyer's agent should independently verify all property information, zoning, ADU documentation, development density and redevelopment potential with the appropriate governmental authorities. Read Less
Courtesy of Tribeca Development LLC 646-261-1803
Listing Snapshot
Days Online
42
Last Updated
Property Type
Single Family Residence
Beds
3
Full Baths
2
Square Ft.
1,175
Lot Size
0.21 Acres
Year Built
1960
MLS Number
A12085957
Additional Details
Appliances & Equipment
Electric Water Heater, Dryer, Electric Range, Microwave, Washer
Building
Built in 1960, Living area: 1175.0, Building faces Southeast, 1 storey, Levels: One, Entry level: 2, Construction Materials: Brick
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