Multifamily Development with In-Law
For Sale
$629,750
2531 Pierce Street, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size1,440 SF
Lot Size0.35 Acres
Price / SF$437.33
Days on Market130
Property Features for 2531 Pierce Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-18
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Pets allowed
Yes, No
Exterior features
Awning(s), Lighting, Storage
Subdivision
HOLLYWOOD LITTLE RANCHES
Lot features
Oversized Lot
Elementary school
Oakridge
Middle school
Olsen
High school
South Broward
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
Legal Description
HOLLYWOOD LITTLE RANCHES 1-26 B LOT 13 E3/4 BLK 14
Utilities
Sewer type
Septic Tank, Public Sewer, Private Sewer
Cooling system
Wall/Window Unit(s), Ceiling Fan(s), Window Unit(s)
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Flooring type
Terrazzo, Vinyl, Tile
Building materials
Block, CBS, Concrete, Concrete Block - With Stucco, Stucco
Roof type
Flat, Shingle
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
Changed: Oct 6
Last Checked: Oct 8 at 6:06AM
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.
This property includes an existing 3-bedroom, 2-bath home with an in-law suite, along with development plans for eight additional 2-bedroom apartment units on the same lot, for a proposed total of nine units. The supplemental units are described as approximately 760 square feet each, and the existing structure is intended to remain while the additional units are developed.
The lot is zoned RM-18 and totals 0.35 acres. A formal Pre-Application Consultation (PAC) meeting with the city has been held, with representatives from relevant disciplines present, and the site plan is reported to be feasible and compliant with current zoning and regulations. The published remarks also note walkability to schools, a library, parks, and Downtown Hollywood.
The included site plan addresses layout, parking, and access for the combined use. The property is located in a Qualified Opportunity Zone, which the seller notes may offer potential tax benefits; interested parties should consult a tax professional for eligibility and details.
The lot is zoned RM-18 and totals 0.35 acres. A formal Pre-Application Consultation (PAC) meeting with the city has been held, with representatives from relevant disciplines present, and the site plan is reported to be feasible and compliant with current zoning and regulations. The published remarks also note walkability to schools, a library, parks, and Downtown Hollywood.
The included site plan addresses layout, parking, and access for the combined use. The property is located in a Qualified Opportunity Zone, which the seller notes may offer potential tax benefits; interested parties should consult a tax professional for eligibility and details.
Key Highlights
- 1949‑built 3/2 home with an in‑law suite (3 bedrooms, 2 bathrooms) on the same lot
- Site plan allows development of 8 additional 2‑bedroom units, for a total of 9 units without tearing down the existing home
- Proposed additional units are approximately 760 SF 2‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,801
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,020
$516.0K
Cap Rate 7%
$368,586
$368.6K
Cap Rate 9%
$286,678
$286.7K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$38.9K $27.00/SF
− Vacancy
−$2.0K −$1.40/SF
EGI
$36.9K $25.60/SF
− OpEx
−$11.1K −$7.68/SF
NOI
$25.8K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,020
Cap Rate 7%
$368,586
Cap Rate 9%
$286,678
Alternative Uses
Best Use
Multifamily LT 5
$368.6K
$322.5K – $430.0K
NOI $25,801 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$342.9K
$300.0K – $400.0K
NOI $24,002 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$563.3K
$492.9K – $657.2K
NOI $39,433 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - 3/2 home with in-law suite plus plans for eight additional 2-bedroom units on the same lot.
Where is this duplex located?
The property is located at 2531 Pierce Street Hollywood, FL.
What is the asking price?
The asking price for this property is $629,750.
What are key features of this property?
This property features: 1949‑built 3/2 home with an in‑law suite (3 bedrooms, 2 bathrooms) on the same lot; Site plan allows development of 8 additional 2‑bedroom units, for a total of 9 units without tearing down the existing home; Proposed additional units are approximately 760 SF 2‑bedroom apartments
