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About the Listing URGI07 - 3355952,3206892
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
Listing Highlights
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances: Cooktop, Dryer, Electric Cooktop, Electric Range, Microwave, Oven, Range, Refrigerator, Water Heater, Washer
- Air Cond: Ceiling Fan(s),Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor: Laminate,Parquet,Terrazzo,Tile,Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Unfurnished,Bedroom on Main Level,Split Bedrooms,Storage,Pets Allowed
- Water: Public
Exterior Details
- Lot Description: Oversized Lot,1/4 to 1/2 Acre Lot
- Garage Capacity: N/A
- Parking Spaces: 4
- Lot Dimensions: 75 feet x 206 feet
- Zoning: RM-18
- Roof: Flat,Shingle
- Others: Awning(s),Storage
- Sewer: Public Sewer,Private Sewer,Septic Tank
- Parking Features: Attached Carport,Covered,Carport
Financial Details
- Tax Amount: $9,667
- Taxes w/Assessments: $360,980
- Tax/Property ID: 514216015270
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
2531 Pierce St Hollywood, FL 33020
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