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$515,000

  • Sold
  • Closed
  • Duplex
  • 1,104 Sq. Ft.
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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

Full Property Details for 1020 NE 16th Terrace

General

  • Sold For: $515,000
  • Taxes: $7,278 (2024)
  • Status: Closed
  • Type: Duplex
  • Source: Greater_Miami
  • MLS ID: A11874270
  • Added to Site: 132 day(s) ago

Rental Information

  • Rent Includes: None

Interior

  • Flooring: Terrazzo

Parking

  • Total Spaces: 4

Location

  • Area: Lake Ridge Progresso
  • County: Broward County
  • Subdivision: Lake Ridge Progresso, Lake Ridge
  • Building Name: Lake Ridge Progresso
  • Driving Directions: 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.

Community

  • Community Name: Lake Ridge Progresso
  • Units Assoc/Comm: 2

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Wall/Window Unit(s)
  • Heating Type: Window/Wall

Utilities

  • Sewer: Public Sewer
  • Water: Municipal Water

Structural Information

  • Architectural Style: Attached, Ranch
  • Structure Type: Duplex
  • Detached/Attached: Detached
  • Construction: Concrete Block With Brick, CBS Construction, Stucco
  • Roof: Flat Tile, Shingle
  • Stories/Levels: 1
  • Building Size: 1104
  • Square Feet: 1,104
  • Living Area: 1,104 Sq. Ft.
  • Year Built: 1951

Unit Information

  • Units in Complex: 2

Lot Features

  • Lot Features: Less Than 1/4 Acre Lot
  • Potential Use: Unknown/Withheld
  • Zoning: RMM-25

Financial Considerations

  • Price Per Sq. Ft.: $466.49
  • Tax Amount: $7,278
  • Tax Year: 2024
  • Terms: Conventional, FHA 203K, FHA-Va Approved, VA Loan

Disclosures and Reports

  • Documents Avail.: None
  • Legal Description: PROGRESSO 2-18 D LOT 18 BLK 169
  • Inclusions: None
  • Property ID: 494234045530

Listed and Sold by Keller Williams Realty Service

Listing agent

— 1020 NE 16th Terrace —

  • Keller Williams Realty Service

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 1020 NE 16th Terrace

School District:Broward County School District
NameGradesDistance
Bennett Elementary School
1755 Northeast 14th Street, Fort Lauderdale, FL 33304
K-50.5 mi
Sunrise Middle School
1750 Northeast 14th Street, Fort Lauderdale, FL 33304
6-80.4 mi
Fort Lauderdale High School
1600 Northeast 4th Avenue, Fort Lauderdale, FL 33305
9-121.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1020 NE 16th Terrace

Date
Details
Price
Change
Source
11/18/2025
Sold
$515,000
-11.05%
MLS
10/09/2025
Price Reduced
$579,000
-17.29%
MLS
9/08/2025
Listed
$699,999
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Keller Williams Realty Service

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1020 NE 16th Ter, Fort Lauderdale, FL 33304 (MLS# A11874270) is a Duplex property that was sold at $515,000 on November 18, 2025. Want to learn more about 1020 NE 16th Ter? Do you have questions about finding other Duplex real estate for sale in Fort Lauderdale? You can browse all Fort Lauderdale real estate or contact a Coldwell Banker agent to request more information.