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: Commercial - Business
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
Feature Descriptions
Days on Site: 3
Exterior: Block, Concrete, Stucco, CBS, Concrete Block - With St
Flooring: Laminate, Parquet, Tile, Terrazzo, Vinyl
Lot: Oversized Lot
Lot: Oversized Lot
Parcel#: 514216015270
Parking: Covered, Accessible Parking
Parking Notes: Covered, Accessible Parking
Security: Other, Smoke Detector(s)
Sewer: Public Sewer, Private Sewer, Septic Tank
Utilities: Cable Connected, Electricity Connected, Other, Phone Connected, Sewer Connected, Water Connected
Utilities: Cable Connected, Electricity Connected, Other, Phone Connected, Sewer Connected, Water Connected
Water: Public
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 ®
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2531 Pierce Street | MLS# B26036967
This commercial property located at 2531 Pierce Street, Hollywood, FL 33023 is currently listed for sale with an asking price of $697,500. Search Hollywood real estate on www.myhouseofwindsor.com today.