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27838914
27838915

1511 NE 8th Street, Homestead, FL 33033

EG
FL 602745
Skyrise Commercial Real Estate Advisors
RS
BK3057229
Skyrise Commercial
Listed by Skyrise Commercial Real Estate Advisors, Skyrise Commercial
$10,499,000
229 days on market
Updated 21 days ago

Elizabeth Gardens of Homestead

Details
Property Type Multifamily
Sub Type Apartment Building
Units 44
Cap Rate 5.72%
NOI $600,628
Occupancy 95%
Pro-Forma Cap Rate 5.63%
Pro-Forma NOI $590,893
Class B
Year Built 1971
Year Renovated 2025
Buildings 5
Stories 2
Lot Size (SqFt) 130,645
Investment Type Stabilized
Occupancy Date 11/01/2025
Ground Lease No
Ownership Fee Simple

Fully Renovated 44 unit Apartment Community in Homestead

Marketing description

Skyrise Commercial Real Estate Advisors is proud to exclusively represent the sale of Elizabeth Gardens of Homestead, a 44-unit apartment community located in the beautiful City of Homestead, Florida. Situated at 1511, 1521, 1531, 1541 and 1561 NE 8th Street (aka “Campbell Drive”), the community contains 5 beautifully laid out apartment complexes of two stories each, in a garden style development.

With 16 one bedroom units and 28 two bedroom units and one bath, the units have been upgraded with new kitchens, new flooring, new doors, led light fixtures, mini-split climate controlled units and freshly painted through out.

Recent renovations to the exterior include a new roof, impact windows, exterior lighting, surveillance cameras and a re-sealing of the asphalt parking areas.

Formerly known as the Skyvista 44 Condominium, the community’s declaration has been terminated and will be delivered free and clear to a new investor.

With direct access to Campbell Drive, residents enjoy a short drive to South Dixie Highway to the West and Florida’s Turnpike to the East. Area shopping include Publix Supermarket, Super WalMart, Home Depot, Ross, Marshalls, Winn-Dixie and more.

For additional informaiton please contact Eduardo Gil at (305) 219-4751

Investment highlights

  • Fully Renovated in 2025

  • New Roofs on all buildings

  • New Impact Windows

  • Completely Painted

  • Asphalt Parking Resealed and expanded

  • Secure Entry

  • Surveillance Cameras installed

  • New LED exterior lights

  • Completed Fenced with pedestrian access to Campbell Drive

  • Minutes from Florida Turnpike and South Dixie Highway

  • Over 20,000 cars drive by the site daily, providing excellent exposure for leasing

Listing Contacts

EG
FL 602745
Skyrise Commercial Real Estate Advisors
RS
BK3057229
Skyrise Commercial
Listed by Skyrise Commercial Real Estate Advisors, Skyrise Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$600,628.00
$50,052.33/mo

Valuation Metrics

0
DSCR
5.72%
Cap Rate
5.72%
ROI

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