2 Locations

Skyrise Commercial Real Estate Advisors is proud to present the opportunity to acquire Elizabeth Gardens at Lauderhill (EGL), a 192-unit apartment community located in the City of Lauderhill, County of Broward, in the State of Florida.

EGL is a former condominium association that was terminated at the end of FY 2023. All units are now owned by the seller and operated as a market rate rental community. The community is comprised of two separate buildings. Building A is a 5-story, U-shaped, apartment building with 144 units while Building B is a stand-alone, 6-story building with 48 units.

Building A located at 2611 NW 56th Avenue, has a unit mix of 110 two-bedroom / two-bath units with 34 one-bedroom / one bath layouts. While Building B, located at 2601 NW 56th Avenue, has a mix of 36 two-bedroom / two-bath units and 12 one-bedroom / one and one-half bath layouts.

EGL underwent a major renovation in 2023 including new impact windows and doors, new aluminium railings and balconies, new electrical panels, new roof for both buildings, and repairs to the exterior parking lot entrances and exit areas. Both buidlings have been painted in modern tones and several of the main sewer lines repaired in both buildings. 3 of the 4 elevators were refurbished with new cabins, electrical and motors and the buildings were prepared to pass thier 40-year certification in 2024, includiing new building lights, fire exit signs and exterior wall lighting and new feeder panels to the A building.

All interiors of rented units were improved with new kitchens, new bathrooms where needed, flooring, mini-blinds, painting, new air conditioning units, new water heaters, electrical panels, appliances, light fixtures, plumbing fixtures and bathroom vanities. Among the improvements made, was the installation of smoke and heat alarm sensors connected to the main fire panel, which is centrally monitored off-site.

Apartment rents range from $1800 - $1900 for the two-bedroom units and $1600 - $1650 for the one-bedroom units. Several units are under construction and are not included in the overall vacancy. These units are expected to be delivered into inventory shortly.

EGL is located in the Central Lauderhill Sector of the City of Lauderhill and within walking distance of City Hall. The City of Lauderhill is part of Broward County. Broward is the second largest market that comprises the South Florida MSA. EGL is startegically located near major thoroughfares including Florida Turnpike to the East, I-95, State Road 7, University Drive, Oakland Park and Sunrise Boulevard and just across from the Inverrary Community of properties.

Fort Lauderdale airports is less than 10-minutes away, while Miami International is less than 30-minute drive to the south. The Hard Rock Hotel and Casino is less than 20-minutes from the site. The Hard Rock employs several thousand residents of Miami and Broward, and is considered a major driver of entertainment and employment to the area.

Publix Supermarket, the state’s largest grocery chain, has store located just across from EGL with other national retailers such as Lowe’s, Home Depot and WalMart less than 5 minutes from site. Bus transportation is available adjacent to entrance.

With a combination of renovated interiors and exteriors, a growing and stabilized rentroll, access to transportation and employment sectors and the ability to acquire an entire community of 192 apartment units, Elizabeth Gardens at Lauderhill, is an exceptional asset to enter or to add to your portfolio in the State of Florida.

Please contact us today for additional informaiton and to arrange a private showing.

All cooperating brokers are to collect thier fee from their respective client. Skyrise will be paid by seller.