Progresso Land for Sale

Progresso Land for Sale

Welcome to Progresso, a vibrant and dynamic subdivision nestled in the heart of Fort Lauderdale, Florida. Known for its eclectic charm and rich cultural tapestry, Progresso offers a unique blend of urban convenience and suburban tranquility. With its tree-lined streets and friendly community atmosphere, this neighborhood is perfect for those seeking a place to call home in one of South Florida's most desirable locales.

Progresso is strategically located just minutes away from the stunning beaches of Fort Lauderdale, as well as the bustling downtown area filled with shops, restaurants, and entertainment options. The subdivision is also conveniently situated near major highways, making it easy to explore all that Broward County has to offer. Whether you’re looking to enjoy a sunny day at the beach, a night out on the town, or a peaceful afternoon in one of the nearby parks, Progresso provides the perfect backdrop for your lifestyle.

For those interested in investing in land, Progresso has exciting opportunities available. With several parcels of land for sale, you can build your dream home or create a lucrative investment property in this thriving community. The real estate market in Fort Lauderdale is on the rise, and owning land in Progresso positions you for future growth and development.

Don’t miss your chance to be part of this captivating neighborhood. Explore the available land for sale in Progresso today and take the first step toward making your real estate dreams a reality!

Newest Progresso Land for Sale

1219 NE 5th Terrace, Fort Lauderdale
$649,850
B26033788 MLS
45% OFF: This is how to generate great returns in today's market while protecting your downside. Acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity (the right to build 8 more units) in Fort Lauderdale's rapidly developing Studio City at over 45% below market value. This property should not be viewed solely as a duplex or solely as a land play; the true value is in both. The existing duplex (that is fairly renovated and has separate water & electric meters) can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 10 units, without tearing down the current structure. The included site plan shows viable layout, parking, & access. A preliminary development meeting has been held with the city; representatives from every relevant department (planning, zoning, engineering, landscape, etc) were present and confirmed that the site plan is feasible and compliant with current code and zoning regulations. Recently sold multi-family land comps: $117k-$141k per unit. Active multi-family land comps: $124k-$177k per unit. Recently sold multi-family (existing building) comps: $312k-$375k per unit. Active multi-family (existing building) comps: $297k-$372k per unit. Subject property: fairly renovated duplex + 8 units of buildable land; market value ~$1.2M. Build cost ~$1.2M. All in:~$1.9M. Projected value:$3M+ = $1M+ instant equity upon completion. 1 bedroom apartment rents:$1.6k-$2.3k/mo. Potential ~10% cap rate. Seller will finance. Located on NE 5th Terrace, less than one block from NE 13th Street, the property is under a 60 second walk from the heart of Studio City: Fort Lauderdale's emerging arts and entertainment district, featuring an eclectic mix of independent businesses like Gulfstream Brewing Co, Lovelee Bakeshop, Radio-Active Records and other popular neighborhood destinations. Situated at the crossroads of Flagler Village & Wilton Manors, the area offers a vibrant, walkable neighborhood experience with a youthful, creative energy often compared to early Wynwood. Surrounded by ongoing new development, the area continues to attract investors & developers who recognize its long term potential. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information.

1219 NE 5th Terrace, Fort Lauderdale

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