2531 Pierce St Hollywood, FL 33020
North Central Hollywood NeighborhoodEstimated payment $4,280/month
Highlights
- 0.35 Acre Lot
- Oversized Lot
- Tile Flooring
- No HOA
- Accessible Parking
- 4-minute walk to Lincoln Park
About This Home
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 30% 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.
Co-Listing Agent
Wayne Charneco
Bank On It Realty License #3206892
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,666
Year Built
- Built in 1949
Lot Details
- 15,393 Sq Ft Lot
- Oversized Lot
Home Design
- Flat Roof with Façade front
- Shingle Roof
- Flat Tile Roof
- Concrete Block And Stucco Construction
Interior Spaces
- 1,785 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Fire and Smoke Detector
Flooring
- Parquet
- Tile
- Terrazzo
- Vinyl
Parking
- 4 Parking Spaces
- Covered Parking
Accessible Home Design
- Accessible Parking
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Mounted To A Wall or Window
- Septic Tank
- Phone Available
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 514216015270
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Insurance Expense $3,226
- Other Expense $8,640
- New Taxes Expense $9,667
- Operating Expense $4,320
- Gross Income $37,344
- Net Operating Income $20,131
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $9,667 | $397,070 | ||
| 2025 | $9,092 | $360,980 | ||
| 2024 | $8,048 | $360,980 | ||
| 2023 | $8,048 | $298,340 | $0 | $0 |
| 2022 | $7,085 | $271,220 | $0 | $0 |
| 2021 | $6,212 | $246,570 | $0 | $0 |
| 2020 | $5,706 | $334,580 | $92,360 | $242,220 |
| 2019 | $5,466 | $329,720 | $92,360 | $237,360 |
| 2018 | $4,887 | $304,290 | $92,360 | $211,930 |
| 2017 | $4,301 | $168,430 | $0 | $0 |
| 2016 | $3,727 | $153,120 | $0 | $0 |
| 2015 | $3,245 | $139,200 | $0 | $0 |
| 2014 | $2,197 | $90,160 | $0 | $0 |
| 2013 | -- | $97,660 | $30,790 | $66,870 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/31/2026 08/31/26 | Price Changed | $629,750 | -7.4% | $353 / Sq Ft |
| 07/28/2026 07/28/26 | Price Changed | $679,850 | 0.0% | $381 / Sq Ft |
| 07/24/2026 07/24/26 | Under Contract | -- | -- | -- |
| 07/20/2026 07/20/26 | For Rent | $1,895 | 0.0% | -- |
| 06/04/2026 06/04/26 | For Sale | $697,500 | -- | $391 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $430,000 | Enterprise Title | |
| Warranty Deed | $160,000 | None Available | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $335,000 | Concorde Land Title Svcs Inc | |
| Warranty Deed | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $230,000 | Construction | |
| Previous Owner | $67,000 | Unknown | |
| Previous Owner | $268,000 | Purchase Money Mortgage |
Source: MIAMI REALTORS® MLS
MLS Number: B26036967
APN: 51-42-16-01-5270
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Ask me questions while you tour the home.