Property Description
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
Property Features
Property Type: Multi Unit - Multiple
Cooling: Ceiling Fan(s), Wall/Window Unit(s)
Heating: Window/Wall
Lot Size: 0.35 Acres
Roof Type: Flat, Shingle
Stories: 1.0
Taxes: $9,666
Year Built: 1949
Square Feet: 1,785
Amenities
Awning(s)
Lighting
Other
Storage
Feature Descriptions
Days on Site: 4
Exterior: Block, Concrete, Stucco, CBS, Concrete Block - With St
Flooring: Tile, Terrazzo, Vinyl
Lot: Oversized Lot
Lot: Oversized Lot
Lot Dimensions: 75 feet wide x 206 feet deep
Parcel#: 514216015270
Pets Allowed: Yes, No Restrictions
Restrictions: No Restrictions
Sewer: Public Sewer, Private Sewer, Septic Tank
SQFT Living: 1440
Structure Type: Duplex, House, Multi Family
Units: 2
Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Available, Water Connected
Utilities: Cable Connected, Electricity Connected, Phone Connected, Sewer Available, Water Connected
Water: Public
Local Schools
High School: South Broward
Middle School: Olsen
Elementary School: Oakridge
Listed By / Shown By
Listed By
Agency Name: United Realty Group Inc.
Agency Phone: 954-450-2000
Shown By
Agent Name: Hannah Windsor
Agent Phone: (904) 534-6790
Agency Title: Watson Realty Corp., REALTORS ®
Estimate Your Payment
Estimated Payment
$ 4,557.92 per month $3,548.99 Principal & Interest $805.50 Property Tax $203.44 Homeowner's InsuranceChange Payment Information
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2531 Pierce Street | MLS# B26036914
This multi-family property located at 2531 Pierce Street, Hollywood, FL 33020 is currently listed for sale with an asking price of $697,500. Search Hollywood real estate on www.myhouseofwindsor.com today.