Multifamily Property with In-Law
2531 Pierce Street Hollywood, FL
2531 Pierce Street, Hollywood, FL
$697,500
For Sale
$697,500
MULTI_FAMILY - Hollywood, FL
Property Size1,785 SF
Lot Size0.35 Acres
Price / SF$390.76
Days on Market49
Property Features for 2531 Pierce Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-18
- Parking
- 4
- Parking features
- Covered
- Standard status
- Active
- APN
- 514216015270
- Size
- 1,785 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
- Septic Tank, Private Sewer, 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
- Parquet Wood, Laminate, Tile, Terrazzo, Vinyl
- Building materials
- Block, CBS, Concrete, Concrete Block - With Stucco, Stucco
- Roof type
- Flat, Shingle
Listing agency
United Realty Group Inc.
(954) 450-2000
Listed by
Michael J Sheer · License #3355952
(954) 993-6664
Added: Jun 4 Updated: Jul 12 at 4:39PM Checked: Jul 22 at 8:06PM
MLS# B26036967
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.
This offering includes a 3-bedroom, 2-bath home with an in-law suite, positioned on a 0.35-acre lot. The plan contemplates keeping the existing home in place while adding eight additional units, for a total of nine units on the same property. The additional eight units are described as approximately 760 square feet each as 2-bedroom apartments, supported by an included site plan covering layout, parking, and access.
The property is zoned RM-18. A formal Pre-Application Consultation (PAC) meeting with the city has been held, with representatives from planning, zoning, engineering, landscape, fire, and other relevant disciplines present, who confirmed the site plan is feasible and compliant with current zoning and regulations. The property is also identified as being in a Qualified Opportunity Zone.
For buyers and developers, the combination of an income-producing existing residence and planned multi-unit development can support a transition from single-structure income to a larger multifamily configuration without demolishing the current home. Seller financing is noted as available. For project specifics, including the provided plans, attachments, and supporting materials referenced in the remarks, review the photos and attachments or contact the listing agent.
The property is zoned RM-18. A formal Pre-Application Consultation (PAC) meeting with the city has been held, with representatives from planning, zoning, engineering, landscape, fire, and other relevant disciplines present, who confirmed the site plan is feasible and compliant with current zoning and regulations. The property is also identified as being in a Qualified Opportunity Zone.
For buyers and developers, the combination of an income-producing existing residence and planned multi-unit development can support a transition from single-structure income to a larger multifamily configuration without demolishing the current home. Seller financing is noted as available. For project specifics, including the provided plans, attachments, and supporting materials referenced in the remarks, review the photos and attachments or contact the listing agent.
Key Highlights
- Income‑producing 3/2 home with in‑law suite plus additional development capacity on the same lot for a total of 9 units
- Proposed build‑out includes 8 additional 2‑bedroom units, each approximately 760 SF (without tearing down the existing home)
- City PAC (pre‑application consultation) held; representatives across disciplines confirmed the site plan is feasible and compliant with current zoning and regulations
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 | $56.8k | $31.80 |
| − Vacancy | −$2.7k | −$1.49 |
| EGI | $54.1k | $30.31 |
| − OpEx | −$24.3k | −$13.64 |
| NOI | $29.8k | $16.67 |
1,785 SF · lease $31.80/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$425.0K
$371.9K – $495.9K
NOI $29,752 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.3K
$611.0K – $814.7K
NOI $48,880 @ 7.0% cap · market cap 7.01%
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 - 3/2 home with in-law suite plus development capacity for up to 9 total units on one lot under RM-18 zoning.
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: Income‑producing 3/2 home with in‑law suite plus additional development capacity on the same lot for a total of 9 units; Proposed build‑out includes 8 additional 2‑bedroom units, each approximately 760 SF (without tearing down the existing home); City PAC (pre‑application consultation) held; representatives across disciplines confirmed the site plan is feasible and compliant with current zoning and regulations
