2531 Pierce ,Duplex, Hollywood Little Ranches for Sale

2531 Pierce for Sale

Price $629,750.00

• Lot size 15393
• Year Build 1949
• Waterfront
• Zip 33020
• Style Twin Home, Half Duplex, Twin Homes
• Parking Description
• Pool Yes
• Status Active

Description

This rare investment 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 30% 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. Call listing agent for more information.

HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14

1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre, Oversized Lot, Septic

This rare investment 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 30% 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. Call listing agent for more information.

City:Hollywood,Roof:1:Flat Tile,2:Flat Roof With Facade Front,3:Shingle,Sewer:1:Public Sewer,2:Other,3:Public Sanitation,4:Private Treatment Plant,5:Septic Tank,6:Sewer,7:On-Site Treatment,Zoning:RM-18,Cooling:1:Wall/Window Unit(s),Country:United States,List A O R:BeachesMLS,Stories:1,Tax Year:2025,Flooring:1:Tile,2:Vinyl,Latitude:26.016312,Cooling Y N:1,Heating Y N:1,List Price:629750,Listing Id:B26036914,Longitude:-80.1584545,Mls Status:Active,Utilities:1:Sewer Connected,2:Cable Available,3:Electricity Available,4:Phone Available,5:Sewer Available,6:Water Available,Year Built:1949,High School:South Broward,Living Area:1440,Possession:1:Long Closing Preferred,2:Negotiable,Postal Code:33020,Street Name:Pierce,Coordinates:1:26.016312,Gross Income:37344,Lot Features:1:Less Than 1 Acre,2:Oversized Lot,3:Septic,Photos Count:39,Business Type:1:Residential-Multi-Family,Days On Market:143,Listing Terms:1:Conventional,2:Cryptocurrency,3:Exchange,4:Owner Will Carry,5:Owner Hold 2nd Mortgage,Lot Size Acres:0.35,Lot Size Units:Square Feet,M I A M I R E_ Area:3050,M L S Area Major:Hollywood Little Ranches,On Market Date:2026-06-01,Parcel Number:514216015270,Property Type:Residential Income,Stories Total:1,Street Number:2531,Street Suffix:Street,Public Remarks:This rare investment 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 30% 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. Call listing agent for more information.,County Or Parish:Broward County,Documents Count:2,Expiration Date:2027-05-31,List Office Name:United Realty Group Inc.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:4311,Property Sub Type:Duplex,Road Surface Type:1:Paved,State Or Province:FL,Subdivision Name:HOLLYWOOD LITTLE RANCHES,Tax Annual Amount:9666,Total Actual Rent:37344,Unparsed Address:2531 Pierce Street, Hollywood FL 33020,Elementary School:Oakridge,Exterior Features:1:Other,Listing Agreement:Exclusive Right To Sell,M I A M I R E_ Blogging:1,Road Frontage Type:1:City/County Maintained,2:Paved Road,3:City,Building Area Total:1785,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:15393,M I A M I R E_ L P Amt Sq Ft:437.3264,M I A M I R E_ Num Floors:1,M I A M I R E_ Num Meters:2,Original List Price:697500,Previous List Price:679850,Architectural Style:1:Half Duplex,2:Twin Homes,Building Area Source:Appraisal,Documents Available:1:Other Documents Available,I D X Participation Y N:1,Net Operating Income:20131,Number Of Units Total:2,Property Attached Y N:1,Syndication Remarks:This rare investment 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 30% 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. Call listing agent for more information.,Listing Contract Date:2026-06-01,Originating System I D:miamire,Showing Instructions:24 Hour Notice,Appointment Only,Call Listing Agent,Elect Lockbox-Call List Agent,List Agent Must Accompany,Text Agent Phone Number,Street Number Numeric:2531,Tax Legal Description:HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14,M I A M I R E_ Current Price:629750,M I A M I R E_ Owner Agent Y N:1,Middle Or Junior School:Olsen,Construction Materials:1:CBS Construction,2:Stucco,M I A M I R E_ Num Leases Year:100,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Geographic Area:Hollywood East (3010-3050),M I A M I R E_ Main Living Area:Entry Level,M I A M I R E_ Parcel Number M L X:5142,M I A M I R E_ Supplement Count:2,Contract Status Change Date:2026-06-01,Internet Address Display Y N:1,Number Of Units In Community:2,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:Yes - Attribution Required (Agent and Office),M I A M I R E_ Subdivision Number:1,M I A M I R E_ Acreage Description:1/4+ To 1/2 Acre,M I A M I R E_ Environmental Audit:None,M I A M I R E_ Num Times Leased Year:100,M I A M I R E_ Agent Alternate Phone:954-993-6664,M I A M I R E_ Approx Sqft Total Area:15393,Internet Entire Listing Display Y N:1,M I A M I R E_ Dade Market Amt Assessed Amt:360980,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:437.33,Internet Automated Valuation Display Y N:1,