Basic Information

  • MLS # B26036914
  • Type Condominiums
  • Subdivision/Complex Hollywood Little Ranches
  • Year Built 1949
  • Total Sqft 1,440
  • Date Listed 06/04/2026
  • Days on Market 41
Description

Rare opportunity to acquire an income producing 3/2 home (w/in-law suite) & additional development capacity, walking distance from schools, library, parks & Downtown Hollywood, at over 20% below market value. Lots of new development nearby. Investors & developers have increasingly turned their attention to this area, recognizing its long term potential. This property should not be viewed solely as a single family home or solely as a land play; the true value is in both. The existing 3 bedroom 2 bathroom home can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 9 units, without tearing down the current structure. All of the additional 8 units can be ~760 square foot 2 bedroom apartments. The included site plan shows viable layout, parking & access. A formal Pre-Application Consultation (PAC) meeting with the city has been held; representatives from every relevant discipline were present (planning, zoning, engineering, landscape, fire, etc) and they confirmed the site plan is feasible & compliant with current zoning & regulations. Sold land comps: $50k per (mostly 1 bedroom) unit. Active land comps: $58k-$101k per (mostly 1 bedroom) unit. Two bedroom units generally rent for around 30% more than one bedroom units; land buildable for two bedroom units is generally valued around 30% more than land buildable for one bedroom units. 3/2 house comps: $499k-$679k active, $410k-$580k sold. Subject property is a 3/2 house + 8 (2 bedroom) units of buildable land; market value ~$900k. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. Build cost:~$1.3M-$1.5M. All in:~$2M. Projected value:$3M+ = ~$1M instant equity. Potential ~10% cap. Seller will finance. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information.

Exterior Features

  • Waterfront No
  • Parking Spaces 0
  • Pool No
  • Parking Description
  • Exterior Features Lighting, Other, Awnings

Interior Features

  • Adjusted Sqft 1,440Sq.Ft
  • Interior Features Main Living Area Entry Level
  • Sqft 1,440 Sq.Ft

Property Features

  • Aprox. Lot Size 15,393
  • Furnished Info No
  • Lot Description Less Than One Acre, Oversized Lot, Quarter To Half Acre Lot
  • Short Sale Regular Sale
  • HOA Fees N/A
  • Subdivision Complex
  • Subdivision Info Hollywood Little Ranches
  • Tax Amount $9,666
  • Tax Year 2025

2531 Pierce

Hollywood, FL 33020

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