Hollywood, FL 33020 2531 Pierce Street
$697,500
38 more
Presented By: United Realty Group Inc.
Home Details
Rare opportunity to acquire income producing 3/2 home w/in-law suite & additional development capacity, walking distance from library, parks & Downtown Hollywood, at over 20% below market value. Keep the existing home & add 8 (2 bedroom) units for 9 units total. Included site plan shows layout, parking & access. Meeting with city has been held; feasibility & zoning compliance confirmed. Land comps:$50k per (mostly 1 bed) unit sold, $58k-$101k per (mostly 1 bed) unit active. 3/2 house comps:$499k-$679k active, $410k-$580k sold. Subject property: 3/2 house + 8 (2 bedroom) units buildable land; market value ~$900k. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. Build cost:~$1.5M. All in:~$2.2M Projected value:$3M+ = ~$1M equity. Potential ~10% cap. Opportunity zone. Seller will finance
Presented By: United Realty Group Inc.
Interior Features for 2531 Pierce Street
Bathrooms
Total Baths
General for 2531 Pierce Street
Additional Parcels Y/NNo
Association AmenitiesParking
CityHollywood
CountyBroward
Current UseDevelopment, MultiFamily, SingleFamily
Development StatusOther, Proposed
DisclosuresOwnerIsListingAgent
Elementary SchoolOakridge
Facing DirectionSouth
Gross Income37344
High SchoolSouth Broward
Insurance Expense3226
Legal DescriptionHOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14
Lot Size Square Feet15393
MLS Area3050
Middle/Junior High SchoolOlsen
Net Operating Income20131
PossessionNegotiable
Possible UseMultiFamily, SingleFamily
PostalCityHollywood
Property Sub Type AdditionalUnimprovedLand
Property SubtypeUnimprovedLand
Property TypeLand
SewerPublicSewer, PrivateSewer, SepticTank
Standard StatusActive
StatusActive
Subdivision NameHOLLYWOOD LITTLE RANCHES
Tax Annual Amount9666.78
Tax Year2025
UtilitiesCableConnected, ElectricityConnected, Other, PhoneConnected, SewerConnected, WaterConnected
Virtual TourClick here
Exterior for 2531 Pierce Street
Lot Dimensions75 feet x 206 feet
Lot FeaturesOversizedLot, QuarterToHalfAcreLot
Lot Size Acres0.35
Road Frontage TypeCityStreet
Road ResponsibilityPublicMaintainedRoad
Road Surface TypeAsphalt, Paved
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
High School
South Broward High School
Middle School
Olsen Middle School
Elementary School
Oakridge Elementary School
Marcel Boss P.A.
Realtor® | ABR® | CLP | CIPS | SFR®
