Hollywood, FL 2531 Pierce Street
$697,500
33 more
Presented By: United Realty Group Inc.
SQFT • 1,785
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
Other Interior Features
Air Conditioning Y/NYes
FlooringLaminate, Parquet, Terrazzo, Tile, Vinyl
Heating Y/NYes
Total Stories1
General for 2531 Pierce Street
AccessibilityNone
CityHollywood
Construction MaterialsBlock, Concrete, Stucco
CoolingCeiling Fan(s), Wall/Window Unit(s)
CountyBroward
DisclosuresOwner Is Listing Agent
ElectricOther
Gross Income37344
HeatingWall Furnace
Insurance Expense3226
Legal DescriptionHOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14
MLS Area3050
Net Operating Income20131
PossessionNegotiable
PostalCityHollywood
Property Sub Type AdditionalMulti Family
Property SubtypeMulti Family
Property TypeCommercial Sale
RoofFlat, Shingle
Security FeaturesOther, Smoke Detector(s)
SewerPublic Sewer, Private Sewer, Septic Tank
Standard StatusActive
StatusActive
Tax Annual Amount9666.78
Tax Year2025
UtilitiesCable Connected, Electricity Connected, Other, Phone Connected, Sewer Connected, Water Connected
Virtual TourClick here
Year Built1949
Exterior for 2531 Pierce Street
Building Area Total1785
Lot FeaturesOversized Lot, 1/4 to 1/2 Acre Lot
Lot Size Acres0.35
Lot Size Area15393
Parking FeaturesAccessible Parking, Covered
Road Frontage TypeCity Street
Road ResponsibilityPublic Maintained Road
Road Surface TypeAsphalt, Paved
Total Parking4
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
Steven Carlos Gallo PA
Realtor®
