1025 NE 16th Terrace Fort Lauderdale, FL 33304
Lake Ridge NeighborhoodEstimated payment $6,271/month
Highlights
- Porch
- Cooling System Mounted To A Wall/Window
- Tile Flooring
- Fort Lauderdale High School Rated A
- Open Patio
- Ceiling Fan
About This Home
Don't miss this great investment opportunity in HOT Lake Ridge! This Quadplex needs work but offers strong income potential, or builders can develop up to 3 units on the lot, setbacks depend on building height. 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, all featuring private yards or patios. 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. Call the listing agent for details!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,157
Year Built
- Built in 1960
Lot Details
- 6,753 Sq Ft Lot
Home Design
- Frame Construction
Interior Spaces
- 3,026 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Tile Flooring
Outdoor Features
- Open Patio
- Porch
Utilities
- Cooling System Mounted To A Wall/Window
- No Heating
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 494234045650
- Seller Considering Concessions
Community Details
Overview
- 4 Units
- Progresso Subdivision
Building Details
- Operating Expense $25,000
- Net Operating Income $71,000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $15,157 | $777,220 | $37,140 | $740,080 |
| 2024 | $15,314 | $714,200 | $54,020 | $660,180 |
| 2023 | $15,314 | $714,200 | $54,020 | $660,180 |
| 2022 | $14,990 | $714,200 | $54,020 | $660,180 |
| 2021 | $9,246 | $395,870 | $0 | $0 |
| 2020 | $13,040 | $462,730 | $0 | $0 |
| 2019 | $11,960 | $408,960 | $0 | $0 |
| 2018 | $6,212 | $336,100 | $0 | $0 |
| 2017 | $5,844 | $302,040 | $0 | $0 |
| 2016 | $5,410 | $211,750 | $0 | $0 |
| 2015 | $4,675 | $192,500 | $0 | $0 |
| 2014 | $4,196 | $159,810 | $0 | $0 |
| 2013 | -- | $162,100 | $54,020 | $108,080 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/15/2025 02/15/25 | For Sale | $899,000 | 0.0% | $297 / Sq Ft |
| 02/10/2025 02/10/25 | Off Market | $2,000 | -- | -- |
| 01/13/2025 01/13/25 | For Rent | -- | -- | -- |
| 10/15/2024 10/15/24 | For Rent | $2,000 | 0.0% | -- |
| 10/08/2024 10/08/24 | Off Market | $2,000 | -- | -- |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | Diana Waterous Centorino Pa | |
| Interfamily Deed Transfer | -- | Accommodation | |
| Interfamily Deed Transfer | -- | Accommodation | |
| Warranty Deed | $200,000 | American Title Services Inc | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | Attorney | |
| Special Warranty Deed | $149,000 | Lawyers Advantage Title Grou | |
| Warranty Deed | $120,000 | Lawyers Advantage Title Grou | |
| Warranty Deed | $425,000 | Uptown Title Services | |
| Warranty Deed | $82,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $345,950 | FHA | |
| Previous Owner | $228,750 | Commercial | |
| Previous Owner | $196,377 | FHA | |
| Previous Owner | $456,000 | Negative Amortization | |
| Previous Owner | $57,000 | Credit Line Revolving | |
| Previous Owner | $340,000 | Commercial | |
| Previous Owner | $63,750 | Commercial |
Source: BeachesMLS
MLS Number: R11062860
APN: 49-42-34-04-5650
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