2531 Pierce St, Hollywood, FL 33020

Rare Opportunity in Hollywood, FL! Unique Single-Family Home with Exceptional Potential!

Discover this intriguing single-family home located at 2531 Pierce St in the desirable Hollywood, FL 33020. Built in 1949, this property features 1 bedroom and 0 bathrooms within approximately 1,100 sqft of living space. While the listed features suggest a compact layout, the price of $675,000 indicates a property with significant hidden value, likely stemming from its prime location, generous lot size, or the potential for extensive renovation/expansion.

This home offers a unique opportunity to acquire a property in a sought-after Hollywood neighborhood. Given the listed square footage and bedroom count, a prospective buyer would be keen to uncover specific details that justify its premium price, such as large lot potential, zoning for expansion, or a high-demand tear-down scenario for new construction.

Property Highlights (Based on Provided Data):

• 1 Bedroom / 0 Bathrooms: A rare configuration for a single-family home of this size, suggesting potential for creative re-configuration or a very specific use case.
• 1,100 sqft: Comfortable interior space with potential for optimization.
• Built in 1949: A classic Hollywood home with solid construction, ideal for a significant renovation project to modernize and maximize value.
• Estimated Refinance Payment: $7,527/mo: (Note: This estimated payment is exceptionally high for the listed price. Buyers should consult with a mortgage professional for personalized and accurate financing projections, as this may reflect a unique loan scenario or an error.)
• Priced at $675,000: This pricing suggests significant underlying value beyond the basic stated features, such as substantial land value, premium location, or the potential for a luxury remodel or rebuild.

Hollywood (33020) Market Insights (as of May 2025 data):

The Hollywood housing market, specifically the 33020 zip code, is currently a Buyer’s Housing Market. This indicates that there’s more supply than demand, creating a more favorable environment for purchasers.

• Median Sold Price (33020 Overall): The median home sold price in 33020 was $412,500 in May 2025, up 6.4% year-over-year.
• Median Sold Price (1-Bedroom Homes in 33020): The median sold price for 1-bedroom homes in 33020 was $183,700 in May 2025. This property’s price of $675,000 is substantially higher than the median for 1-bedroom homes and even significantly above the overall median for the zip code. This strongly implies the value lies in factors not explicitly detailed here, such as lot size, development potential, or a unique and high-end renovation.
• Days on Market: Homes in 33020 sold after an average of 91 days on the market in May 2025 (up from 80 days last year). This extended time on market provides buyers with more time for due diligence and negotiation.
• Negotiation Potential: Homes in 33020 generally sell for about 2.22% below list price (Rocket Homes), and the sale-to-list price ratio is 97.78% (Realtor.com), indicating some room for buyer negotiation.

Important Considerations for Buyers in Hollywood, FL:

• Closing Costs: Buyers in Florida typically pay 2% to 5% of the purchase price in closing costs. For a $675,000 home, this could range from approximately $13,500 to $33,750.
• Home Insurance: Florida, especially South Florida, has some of the highest home insurance premiums in the nation due to hurricane risk. For a home built in 1949, annual premiums could range from $3,663 to well over $13,000 or more, depending on the specific carrier, coverage, wind mitigation features, and claims history. Buyers must obtain personalized insurance quotes.
• Environmental Risks (Hollywood, FL 33020):
  • Flood Risk: Hollywood has an extreme flood risk (around 99% of properties are at high risk from various flood types over 30 years). The city is low-lying, coastal, and has numerous waterways. It is critical for buyers to consult official FEMA Flood Insurance Rate Maps (FIRMs) for 2531 Pierce St and secure appropriate flood insurance, as standard homeowners’ insurance does not cover flood damage. Many areas east of Federal Highway are in hurricane evacuation zones due to storm surge risk.
  • Wind Risk: There is an extreme risk of severe winds (primarily from hurricanes) over the next 30 years.
  • Heat Risk: Hollywood faces an extreme heat risk, with projected increases in days above 92.4°F.
  • Wildfire Risk: There is a moderate wildfire risk in some parts of Hollywood, though often lower in densely developed urban areas.

This property at 2531 Pierce St presents a unique and compelling opportunity for a buyer with a vision to capitalize on its underlying value in a dynamic Hollywood market. Its attractive price for the location and potential, combined with the current buyer-favorable market conditions, makes it a noteworthy consideration for those ready to invest in a significant renovation or new construction project.

Serious inquiries are invited to explore the true potential of this distinctive Hollywood property. Contact us today to schedule a private showing and discuss how this unique asset can fit your investment or dream home plans.