2531 Pierce Street, Hollywood, FL 33020
Local realty services provided by:Reliant Realty ERA Powered
Listed by: michael j sheer, wayne c charneco
Office: united realty group inc.
MLS#:B26036934
Source:RMLS
Price summary
- Price:$599,850
About this home
33% OFF: Rare opportunity offers not one, but two ways to generate great returns in today's market while protecting your downside. Acquire an income producing 3/2 home (w/in-law suite) & additional development capacity, walking distance from schools, library, parks & Downtown Hollywood, at over 33% below market value. With lots of new development underway 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 (that can operate as two units: a 2/1 and a 1/1) or solely as a land play; the true value is in both. There are two development strategies. Option 1: 9-Unit Development: Keep the existing structure as a 3 bed 2 bath home while developing 8 additional approximately 760 square foot, 2-bedroom apartments on the same lot, for a total of 9 units. 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. Build cost:~$1.6M. All in:~$2.2M. Projected value:$3M+ = ~$800k instant equity. Potential ~10% cap rate. Option 2: 6-Unit Turnkey Development. Retain the existing structure, configured as two units: a 2/1 and a 1/1, and add two factory-built steel duplexes, each featuring two 3 bed 2 bath units for 6 units total. The manufacturer handles plans and permits, with the duplexes delivered and installed by crane. This streamlined, turnkey approach is designed to minimize development complexity and costs while maximizing cash flow. Build cost:~$1.1M. All in:~$1.7M. Projected value:~$2.5M = ~$600k instant equity. Potential 10%+ cap rate. You also have a third option of tearing down the existing structure and building townhomes similar to the development across the street. 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. Land buildable for three bedrooms units generally sells for more than double 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 or 4 (3 bedroom) units for buildable land; market value ~$900k. 1 bed rents: $1.6k-$1.9k/mo. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. 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....
Contact an agent
Home facts
- Subdivision & Development:HOLLYWOOD LITTLE RANCHES
- Listing ID #:B26036934
- Added:157 day(s) ago
- Updated:November 09, 2026 at 04:18 PM
Structure and exterior
- Lot area:0.35 Acres
Schools
- High school:South Broward
- Middle school:Olsen
- Elementary school:Oakridge
Utilities
- Water:Public
- Sewer:Public Sewer, Septic Tank
Finances and disclosures
- Price:$599,850
- Tax amount:$9,667 (2025)
New listings near 2531 Pierce Street
- New
$435,000Active3 beds 2 baths1,080 sq. ft.7531 Pierce St, Hollywood, FL 33024
MLS# A12119279Listed by: KELLER WILLIAMS DEDICATED PROFESSIONALS - New
$399,000Active2 beds 2 baths1,070 sq. ft.2401 S Ocean Dr #304, Hollywood, FL 33019
MLS# A12120182Listed by: BIG WAVE REALTY LLC - New
$549,500Active3 beds 3 baths2,010 sq. ft.3956 Farragut St, Hollywood, FL 33021
MLS# A12120136Listed by: CHARLES RUTENBERG REALTY FTL - New
$374,900Active1 beds 1 baths690 sq. ft.1801 S Surf Rd #2G, Hollywood, FL 33019
MLS# A12120147Listed by: LOKATION - New
$419,000Active3 beds 3 baths2,350 sq. ft.804 Saint Andrews Rd #14, Hollywood, FL 33021
MLS# A12105174Listed by: RE/MAX ALLSTARS - New
$178,500Active1 beds 1 baths637 sq. ft.1720 Jefferson St #209, Hollywood, FL 33020
MLS# A12116085Listed by: AVANTI WAY REALTY LLC - New
$1,380,000Active4 beds 3 baths3,296 sq. ft.4617 Garfield St, Hollywood, FL 33021
MLS# A12119917Listed by: DEAL FLOW REALTY, LLC. - New
$250,000Active2 beds 2 baths822 sq. ft.2400 S Ocean Dr #212, Hollywood, FL 33019
MLS# A12119984Listed by: EXP REALTY LLC - New
$1,500Active1 beds 1 baths580 sq. ft.2623 Grant St #6B, Hollywood, FL 33020
MLS# A12119969Listed by: EXP REALTY LLC - New
$849,000Active3 beds 2 baths1,980 sq. ft.4608 Harrison St, Hollywood, FL 33021
MLS# A12119940Listed by: THE KEYES COMPANY
Protect your home and budget from life's surprises with an Assurant Home Warranty, backed by a partner that supports you through every step of homeownership. Explore Plans.
© 2023 - 2026 ERA Franchise Systems LLC. All rights reserved. ERA Franchise Systems LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. ERA, ERA Real Estate powered, and their respective logos are registered service marks of ERA Franchise Systems LLC. Each office is independently owned and operated.