LOT SIZE 0.353 acres
MLS#B26036934
STATUSActive
PROPERTY TYPELand - Residential
SUBDIVISIONHOLLYWOOD LITTLE RANCHES
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: Land - Residential
Lot Size: 0.35 Acres
Taxes: $9,666
Feature Descriptions
Association Amenities: Parking
Lot: Oversized Lot
Lot: Oversized Lot
Lot Dimensions: 75 feet x 206 feet
Parcel#: 514216015270
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
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
Agency Title: Realty 100
Agency Phone: 954-859-2100
Estimate Your Payment
Estimated Payment
$ 2,561.27 per month $1,552.33 Principal & Interest $805.50 Property Tax $203.44 Homeowner's Insurance
2531 Pierce Street | MLS# B26036934
This land located at 2531 Pierce Street, Hollywood, FL 33020 is currently listed for sale with an asking price of $697,500. The property has approximately 0.35 Acres. Search Hollywood real estate on www.realty100.com today.