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$585,000

  • Sold
  • Closed
  • Multi-Family
  • 4 Units
  • 0.16 Acres
See This Home
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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.

Full Property Details for 1025-1027 NE 16 Terrace

General

  • Sold For: $585,000
  • Taxes: $15,157 (2024)
  • Status: Closed
  • Type: Multi-Family
  • Source: Regional
  • MLS ID: R11132122
  • Added to Site: 209 day(s) ago

Interior

  • Flooring: Tile

Additional Information

  • Shared Amenities: None

Exterior

  • Exterior Features: Outdoor Living Area
  • Porch/Patio/Deck: Covered, Deck, Patio

Location

  • County: Broward
  • Subdivision: Progresso
  • Driving 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.

Community

  • Community Name: 3380
  • Units Assoc/Comm: 4

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Ceiling Fan(s), Wall/Window Unit(s)
  • Heating Type: Other

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Cable Available: Yes
  • Utility Description: Cable Available, Sewer Available, Water Available

Structural Information

  • Structure Type: Quadruplex
  • Construction: Frame
  • Roof: Other
  • Stories/Levels: 2
  • Building Size: 6753
  • Square Feet: 4,223
  • Living Area: 4,223 Sq. Ft.
  • Year Built: 1960
  • Property Condition: Resale

Lot Features

  • Lot Size (Acres): 0.16
  • Lot Features: 1/4 Acre
  • Zoning: RMM-25

Water Features

  • Water Front View: None

Financial Considerations

  • Tax Amount: $15,157
  • Tax Year: 2024
  • Terms: Cash, Other
  • Tenant Pays: Electricity

Disclosures and Reports

  • Documents Avail.: Other
  • Legal Description: PROGRESSO 2-18 D LOT 6 BLK 170
  • Property ID: 494234045650

Listed by CENTURY 21 Tenace Realty
Sold by MLS Brokers LLC

Listing agent

— 1025-1027 NE 16 Terrace —

  • CENTURY 21 Tenace Realty

Get Pre-Approved Today

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with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Price & Sales History for 1025-1027 NE 16 Terrace

Date
Details
Price
Change
Source
4/14/2026
Sold
$585,000
-22%
MLS
12/07/2025
Price Reduced
$750,000
-6.13%
MLS
10/14/2025
Listed
$799,000
—
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 by CENTURY 21 Tenace Realty
Sold by MLS Brokers LLC

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1025-1027 NE 16 Terrace, Fort Lauderdale, FL 33304 (MLS# R11132122) is a Multi-Family property that was sold at $585,000 on April 14, 2026. Want to learn more about 1025-1027 NE 16 Terrace? Do you have questions about finding other Multi-Family 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.