2531 Pierce Street, Hollywood, FL 33020
Local realty services provided by:Better Homes and Gardens Real Estate Florida 1st
Listed by: michael j sheer, wayne c charneco
Office: united realty group inc.
MLS#:B26036934
Source:RMLS
Price summary
- Price:$679,850
About this home
Rare opportunity to acquire an income producing 3/2 home (w/in-law suite) & additional development capacity, walking distance from schools, library, parks & Downtown Hollywood, at over 20% below market value. Lots of new development nearby. Investors & developers have increasingly turned their attention to this area, recognizing its long term potential. This property should not be viewed solely as a single family home or solely as a land play; the true value is in both. The existing 3 bedroom 2 bathroom home can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 9 units, without tearing down the current structure. All of the additional 8 units can be ~760 square foot 2 bedroom apartments. The included site plan shows viable layout, parking & access. A formal Pre-Application Consultation (PAC) meeting with the city has been held; representatives from every relevant discipline were present (planning, zoning, engineering, landscape, fire, etc) and they confirmed the site plan is feasible & compliant with current zoning & regulations. Sold land comps: $50k per (mostly 1 bedroom) unit. Active land comps: $58k-$101k per (mostly 1 bedroom) unit. Two bedroom units generally rent for around 30% more than one bedroom units; land buildable for two bedroom units is generally valued around 30% more than land buildable for one bedroom units. 3/2 house comps: $499k-$679k active, $410k-$580k sold. Subject property is a 3/2 house + 8 (2 bedroom) units of buildable land; market value ~$900k. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. Build cost:~$1.3M-$1.5M. All in:~$2M. Projected value:$3M+ = ~$1M instant equity. Potential ~10% cap. Seller will finance. 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....
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Home facts
- Subdivision & Development:HOLLYWOOD LITTLE RANCHES
- Listing ID #:B26036934
- Added:62 day(s) ago
- Updated:August 06, 2026 at 03:17 PM
Rooms and interior
- Total bathrooms:2
Schools
- High school:South Broward
- Middle school:Olsen
- Elementary school:Oakridge
Utilities
- Water:Public
- Sewer:Public Sewer, Septic Tank
Finances and disclosures
- Price:$679,850
- Tax amount:$9,667 (2025)
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