2531 Pierce Street, Hollywood, FL 33020

Listing Snapshot

About This Home

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

General Features

Property Type

Residential

Sub-type

SingleFamilyResidence

Style

Contemporary

Stories

1

Direction Faces

South

Parking Spaces

4

Parking

AttachedCarport,Covered,Carport

Zoning

RM-18

Security

SmokeDetectors

Utilities

CableConnected,ElectricityConnected,Other,PhoneConnected,SewerConnected,WaterConnected

Subdivision

HOLLYWOOD LITTLE RANCHES

Interior Features

Appliances

Cooktop,Dryer,ElectricCooktop,ElectricRange,Microwave,Oven,Range,Refrigerator,WaterHeater,Washer

Flooring

Laminate,Parquet,Terrazzo,Tile,Vinyl

Heating

WallFurnace

Cooling

CeilingFans,WallWindowUnits

Interior Features

BedroomOnMainLevel,Other,SplitBedrooms,Storage

Furnished

Unfurnished

Exterior Features

Construction

Block,Concrete,Stucco

Exterior Features

Awnings,Other,Storage

Roof

Flat,Shingle

Lot Features

OversizedLot,QuarterToHalfAcreLot

Pool

No

Waterfront

No

Community Features

MLS Area

3050

Schools

Map

Virtual Tour