5923 Pierce St - Apartments FOR SALE


Hollywood, FL 33021- 441 Corridor
$2,250,000 USD
954-743-7594
5923 Pierce St, Hollywood, FL for Sale
$2,250,000 USD
Apartments - FOR SALE
1/29
null | 6.07% Cap Rate

5923 Pierce St
Hollywood, FL 33021
441 Corridor


HIGHLIGHTS

  • Desirable Unit Mix: Six 2-bedroom/1-bath and two oversized 2-bedroom/2-bath units.
  • Value-Add Potential: Two oversized units offer potential conversion to 3-bedroom/2-bath layouts.
  • Large Land Component: Approximately 30,000 SF across four separate parcels.
  • Strong In-Place Income: Producing approximately $136,619 in annual NOI.
  • Low-Maintenance Features: Newer drainfield, predominantly PVC plumbing, and separate utility metering.
  • Seller Financing Available: Attractive financing terms provide added flexibility for qualified buyers.

OVERVIEW

5921, 5923, 5925, and 5927-5929 Pierce Street present an opportunity to acquire an 8-unit multifamily portfolio in Hollywood, Florida, consisting of six 2-bedroom/1-bath units and two oversized 2-bedroom/2-bath units. The property currently generates an NOI of $136,619. The two 2-bedroom/2-bath units at 5927-5929 Pierce Street are approximately 1,250 SF each and offer a compelling value-add opportunity with the potential to convert them to 3-bedroom/2-bath units, creating additional rental upside. Most tenants are long-term, while all units feature central A/C, two parking spaces per unit, and separate metering, with tenants responsible for their own electric, water, and trash. The property spans approximately 30,000 SF of land across four separate parcels and features a newer drainfield, roofs approximately 10 years old, predominantly PVC plumbing, and a mix of impact and original windows. Located in a well-established Hollywood residential area, the property offers convenient access to major highways, shopping, dining, employment centers, Downtown Hollywood, and the beach. Seller financing is also available with attractive terms, providing additional flexibility for qualified buyers.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$277 USD /SF

# OF UNITS

8

PRICE/UNIT

$281,250

CAP RATE

6.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pierce St Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

C-LP

APN/PARCEL ID

51-41-13-02-1874,51-41-13-02-1875,51-41-13-02-1876,51-41-13-02-1881

ASK ABOUT THIS PROPERTY

Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.