1 / 380.3534 ac
Acres
RM-18
Zoning
Agriculture
Sub Type
About This Property
This is how to generate great returns in today's market while protecting your downside. Acquire an income producing 3/2 home (w/in-law suite) & additional development capacity (the right to build 8 more units), 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.
Property Details
Location
Similar Properties
1452 Jefferson St, Hollywood FL 33020
2015 Washington St, Hollywood FL 33020
Grant St, Hollywood FL 33020
1309 N 24th Ave, Hollywood FL 33020
1917 Harding St, Hollywood FL 33020
2434 Polk St, Hollywood FL 33020
© 2026 MIAMI Association of REALTORS® (MAOR). All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS's in the MIAMI Association of REALTORS® cooperative agreement: Broward, Palm Beaches & St. Lucie REALTORS® and the Miami Association of REALTORS®.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited.
Information is deemed reliable but not guaranteed.
Listing courtesy of United Realty Group Inc.. Data last updated October 6, 2026 at 07:18 PM.