Multifamily Lot With 9-Unit
2531 Pierce Street Hollywood, FL 33020
2531 Pierce Street, Hollywood, FL, 33020
$697,500
For Sale
$697,500
MULTI_FAMILY - Hollywood, FL
Property Size1,440 SF
Lot Size0.35 Acres
Price / SF$484.38
Days on Market52
Property Features for 2531 Pierce Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- RM-18
- Bedrooms
- 3
- Rooms
- Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
- Pets allowed
- No, Yes
- Exterior features
- Awning(s), Lighting, Storage
- Standard status
- Active
- APN
- 514216015270
- Size
- 1,440 SF
- Lot size
- 0.35 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14
- Tax Annual Amount
- 9667
Utilities
- Sewer type
- Private Sewer, Septic Tank, Public Sewer
- Cooling system
- Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1949
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile, Terrazzo, Vinyl
- Building materials
- Block, CBS, Concrete, Concrete Block - With Stucco, Stucco
- Roof type
- Shingle, Flat
- Additional Structures
- Storage
Listing agency
United Realty Group Inc.
(954) 450-2000
Listed by
Michael J Sheer · License #3355952
(954) 993-6664
Added: Jun 1 Updated: Jul 20 at 2:01AM Checked: Jul 22 at 9:06PM
MLS# B26036914
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes an existing income-producing 3-bedroom, 2-bath home with an in-law suite, plus buildable land planned for additional multifamily development. The site plan indicates the existing structure can remain in place while 8 additional units are developed on the same lot for a total of 9 units. The 8 new units are described as approximately 760 square feet each and configured as 2-bedroom apartments, with parking and access addressed within the included plan.
Zoned RM-18, the site includes a formal Pre-Application Consultation (PAC) meeting with the City, with representatives from multiple disciplines present, and they confirmed the site plan is feasible and compliant with current zoning and regulations. The seller’s materials also describe the property as within walking distance to local schools, a library, parks, and Downtown Hollywood.
For investors or developers, the practical fit is the combination of an operating residence and additional development capacity on one tract without requiring demolition of the current 3/2 home. Seller-provided underwriting references market value and projected returns, and the property is stated to be located in a Qualified Opportunity Zone; tax benefits may apply and eligibility should be reviewed with a tax professional. For more details on the layout, parking/access, and submitted materials, contact the listing agent.
Zoned RM-18, the site includes a formal Pre-Application Consultation (PAC) meeting with the City, with representatives from multiple disciplines present, and they confirmed the site plan is feasible and compliant with current zoning and regulations. The seller’s materials also describe the property as within walking distance to local schools, a library, parks, and Downtown Hollywood.
For investors or developers, the practical fit is the combination of an operating residence and additional development capacity on one tract without requiring demolition of the current 3/2 home. Seller-provided underwriting references market value and projected returns, and the property is stated to be located in a Qualified Opportunity Zone; tax benefits may apply and eligibility should be reviewed with a tax professional. For more details on the layout, parking/access, and submitted materials, contact the listing agent.
Key Highlights
- Existing 3/2 home (in‑law suite) can remain in place while building 8 additional ~760 SF 2‑bedroom units on the same lot for 9 total units
- Pre‑application consultation (PAC) held with the city; representatives from relevant disciplines confirmed the site plan is feasible and compliant with current zoning and regulations
- Opportunity Zone property with potential major tax benefits; consult a tax professional for eligibility and details
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.8k | $31.80 |
| − Vacancy | −$2.2k | −$1.49 |
| EGI | $43.6k | $30.31 |
| − OpEx | −$19.6k | −$13.64 |
| NOI | $24.0k | $16.67 |
1,440 SF · lease $31.80/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$342.9K
$300.0K – $400.0K
NOI $24,002 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$563.3K
$492.9K – $657.2K
NOI $39,433 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Income-producing 3/2 home with in-law suite and a feasible plan for additional 2-bedroom units on one lot.
Where is this apartment building located?
The property is located at 2531 Pierce Street Hollywood, FL.
What is the asking price?
The asking price for this property is $697,500.
What are key features of this property?
This property features: Existing 3/2 home (in‑law suite) can remain in place while building 8 additional ~760 SF 2‑bedroom units on the same lot for 9 total units; Pre‑application consultation (PAC) held with the city; representatives from relevant disciplines confirmed the site plan is feasible and compliant with current zoning and regulations; Opportunity Zone property with potential major tax benefits; consult a tax professional for eligibility and details
