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2531 Pierce Street

Hollywood, FL

Listing Details

  • $697,500
  • MLS# B26036914
  • Type Multi Unit - Multiple
  • Status Active
  • 1,785
    Square Feet
  • 0.350 acres
    Lot Size
  • 1949
    Year Built

Description

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.... Read more 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

Key Features

  • Awning(s)
  • Lighting
  • Other
  • Storage
View All Features
2531 Pierce Street
Hollywood, FL 33020
Subdivision
HOLLYWOOD LITTLE RANCHES
County
Broward
Schools
South Broward
Olsen
Oakridge

Contact the Agent

Luxury Homes Specialist
Contact the Listing Agent
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Cooling: Ceiling Fan(s), Wall/Window Unit(s)
  • Days on Site: 23
  • Exterior: Block, Concrete, Stucco, CBS, Concrete Block - With St
  • Exterior Features: Awning(s), Lighting, Other, Storage
  • Flooring: Tile, Terrazzo, Vinyl
  • Heating: Window/Wall
  • Lot Description: Oversized Lot
  • Lot Description: Oversized Lot
  • Lot Dimensions: 75 feet wide x 206 feet deep
  • Lot Size: 0.35 Acres
  • Parcel#: 514216015270
  • Pets Allowed: Yes, No Restrictions
  • Restrictions: No Restrictions
  • Roof Type: Flat, Shingle
  • Sewer: Public Sewer, Private Sewer, Septic Tank
  • SQFT Living: 1440
  • Stories: 1.0
  • Structure Type: Duplex, House, Multi Family
  • Taxes: $9,666
  • Units: 2
  • Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Available, Water Connected
  • Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Available, Water Connected
  • Water: Public
  • Year Built: 1949