Unimproved Land in 2531 Pierce Street, Hollywood, FL 33020 for sale with MLS# B26036934
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 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.
2531 Pierce Street, Hollywood, FL 33020
- Price:
- $629,750.00
- Original List Price:
- $697,500.00
- List Price per Sq Ft (Calculated, Approx.):
- $40.91
- Gross Scheduled Income:
- 37344
- Listing Type:
- For Sale
- Status:
- Active
- Special Sale Conditions:
- Standard
- Listing Category:
- Land & Docks
- Property Type:
- Unimproved Land
- Description of Last Important Update:
- Price Reduced
- Last Major Update on:
- August 31, 2026 4:36 pm
- Lot Area:
- 15,393 Sqft
- Lot Size Dimensions and Info:
- 75 feet x 206 feet
- Lot Features:
- Oversized Lot
- Lot Size Acres:
- 0.3534
- Waterfront:
- No
- Current Use:
- Single Family, Multi-family, Development
- Property Entrance Faces:
- South
- Road Responsibility:
- Public Maintained Road
- Road Frontage Type:
- City Street
- Possible Use:
- Single Family, Multi-family
- Flood Zone Code:
- X
- Tax Annual Amount:
- $9,666.78
- Tax Year:
- 2025
- Tax Assessed Value:
- $360,980.00
- Insurance Expense:
- $3,226.00
- Property Tax Details:
- County Only
- Sewer:
- Septic Tank, Public Sewer, Private Sewer
- Utilities Available:
- Other, Electricity Connected, Sewer Connected, Water Connected, Cable Connected, Phone Connected
- Water Source:
- Public
- Subdivision Name:
- HOLLYWOOD LITTLE RANCHES
- Senior Community:
- No
- Development Status:
- Other, Proposed
- Documents Available:
- Other, Survey, Title Insurance, Building Plan, Plans
- Listing Terms Considered by Seller:
- Cash, Conventional, Cryptocurrency, Owner Will Carry Points, Private Financing Available, 1031 Exchange
- Buyer Possession:
- Negotiable
- Negotiable Seller Concessions
- Tax Legal Description:
- HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14
- Real Estate Folio Number (Parcel Number):
- 514216015270
- Zoning:
- RM-18
- Elementary School:
- Kendall Square K-8
- High School:
- South Broward
- Middle Or Junior School:
- Olsen
- Active on the market since:
- June 4, 2026
- Listing Agreement executed on:
- June 4, 2026
- Price change occurred on:
- August 31, 2026 4:36 pm
- Listing Status Last Changed On:
- June 4, 2026 5:43 pm
- Photos updated on:
- June 8, 2026 3:15 pm
- Last Modified:
- August 31, 2026 4:37 pm
- Courtesy of:
- United Realty Group Inc.
- Attribution:
- Not provided
- Road Surface Type:
- Paved, Asphalt
- Street Name:
- Pierce
- Street Number:
- 2531
- City:
- Hollywood
- State:
- Florida
- Zip Code:
- 33020
- County:
- Broward
- Latitude:
- N26° 0' 59.1''
- Longitude:
- W81° 50' 29.5''
- Street Suffix:
- Street
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Neighborhood Stats
Source: U.S. Census Bureau, ACS 5-Year Estimates
Air Quality
Source: AirNow.gov · Miami
Ver la propiedad 2531 Pierce Street, Hollywood, FL 33020
