2531 Pierce Street, Hollywood, FL 33020

• 1,785 sqft

Property Description

This is how 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 (the right to build 8 more units), walking distance from schools, library, parks & Downtown Hollywood, at over 30% 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.

Listing Status:

Active

Date Added:

June 4, 2026

Data Last Updated:

September 28, 2026 at 3:20PM

Listing Office:

United Realty Group Inc. : 954-450-2000

Listing Agent:

Michael J Sheer : 954-993-6664

MLS ID:

B26036967

Interior

• Flooring: LaminateParquetTerrazzoTileVinyl
• A/C: Ceiling Fan(s)Wall/Window Unit(s)
• Heating: Wall Furnace
• Disability Feature: None

Exterior

• Parking: Accessible ParkingCoveredParking spaces: 4

Construction

• Roofing: FlatShingle
• General: BlockConcreteStucco1

Location

• Road/Access: City Street
• Originating MLS: BEACH_BEACH
• County: Broward

Lot

• Zoning: RM-18HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14514216015270

Utilities

• Utilities: Cable ConnectedElectricity ConnectedOtherPhone ConnectedSewer ConnectedWater ConnectedOther
• Water: Public
• Sewer: Public SewerPrivate SewerSeptic Tank

Financial

• Source: BEACH_BEACH