Duplex
2531 Pierce Street
2531 Pierce Street, Hollywood FL 33020 Get directions
$629,750
1,440 SqFt
See estimated monthly costThis listing is courtesy of United Realty Group Inc.. Michael J Sheer
Overview
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.
Facts & features
Interior
- Living area (sq ft)
- 1,440
Building & exterior
- Year built
- 1949
- Lot size (sq ft)
- 15,393
- Exterior Lights
- Other
HOA (homeowners association)
- No Restrictions
- Yes
Taxes
- Annual tax
- $9,666
- Tax year
- 2025
- Parcel number
- 514216015270
Assigned schools
- Elementary
- Oakridge
- Middle
- Olsen
- High
- South Broward
Listing
- MLS number
- B26036914
- Property type
- Duplex
- Price per SqFt
- $437
- Subdivision
- HOLLYWOOD LITTLE RANCHES
- On market since
- Jun 1, 2026
- Days on market
- 127
Price history
| Date | Event | Price | Change |
|---|---|---|---|
| Jun 1, 2026 | Listed | $697,500 | — |
| Aug 31, 2026 | Price change | $629,750 | −$50,100 (−7.4%) |
Milestones recorded on this listing. Not a complete MLS price history.
Estimated monthly cost
$4,462 per month
- Principal & interest (30 yr)
- $3,184
- Property tax
- $806
- Insurance (estimated)
- $472
An estimate for comparison only — not a loan offer, a quote, or a commitment to lend. Actual taxes, insurance and financing terms will differ.
Location
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