- MLS® #: B26036934
- 2531 Pierce Street
- Hollywood, FL 33020
- $697,500
- 0.35 Acres
- Land
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.
View Virtual TourEssential Information
- MLS® #B26036934
- Price$697,500
- CAD Dollar$979,789
- UK Pound£515,420
- Euro€608,301
- Acres0.35
- TypeLand
- Sub-TypeUnimproved Land
- StatusActive
- HOPANo Hopa
Community Information
- Address2531 Pierce Street
- Area3050
- SubdivisionHOLLYWOOD LITTLE RANCHES
- CityHollywood
- CountyBroward
- StateFL
- Zip Code33020
Exterior
- Lot DescriptionOversized Lot
School Information
- ElementaryOakridge
- MiddleOlsen
- HighSouth Broward
- Office: United Realty Group Inc.
Property Location
2531 Pierce Street on www.jupiteroceanfronthomes.us
Offered at the current list price of $697,500, this home for sale at 2531 Pierce Street features bedrooms and 0 bathrooms. This real estate listing is located in HOLLYWOOD LITTLE RANCHES of Hollywood, FL 33020 . 2531 Pierce Street is listed under the MLS ID of B26036934 and has been available through www.jupiteroceanfronthomes.us for the Hollywood real estate market for 40 days.Similar Listings to 2531 Pierce Street
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Listing information last updated on July 16th, 2026 at 6:35am CDT.