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Contemporary

2531 Pierce Street

Hollywood, FL 33020

MLS#: B26036952

$697,500

Status: Active
Listing number: B26036952
Listing provided by: United Realty Group Inc.
Listing agent phone: None
Last update: 4 days ago
On site: 8 days ago
Browse Properties
HOLLYWOOD LITTLE RANCHES - Residential

Property

Beds

3

Full Baths

2

1/2 Baths

None

Year Built

1949

Sq.Footage

1,440

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

Features & Amenities

Interior

  • Other Interior Features

    Other, Storage

  • Total Bedrooms

    3

  • Bathrooms

    2

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s), Wall/Window Unit(s)

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Wall Furnace

  • Main Level Bedrooms

    2

  • Pet friendly

    Yes

Exterior

  • Garage

    No

  • Construction Materials

    Block, Concrete, Stucco

  • Other Exterior Features

    Awning(s), Other, Storage

  • Parking

    Attached Carport, Covered, Carport

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.35

  • Property Type

    Residential

  • Property Sub Type

    Single Family Residence

  • Architectural Style

    Contemporary

Price

  • Sales Price

    $697,500

  • Tax Amount

    $9,666.78

  • Sq. Footage

    1, 440

  • Price/SqFt

    $484

HOA

  • Association

    No

School District

  • Elementary School

    Oakridge

  • Middle School

    Olsen

  • High School

    South Broward

Property Features

  • Stories

    1

  • Senior Community YN

    NO

  • Sewer

    Public Sewer, Private Sewer, Septic Tank

  • Water Source

    Public

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Location

County

Broward

Elementary School

Oakridge

Middle School

Olsen

High School

South Broward

Listing Courtesy of Michael J Sheer , United Realty Group Inc.

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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

2531 Pierce Street

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