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Enclave Hills Apartments 2221 NW 58th Ave 44 Unit Apartment Building $12,193,000 CAD ($277,114 CAD/Unit) 5.50% Cap Rate Lauderhill, FL 33313
Investment Highlights
- 100% leased with solid income and below-market rents, offering immediate upside.
- Strategic location near Florida Turnpike and major retail corridors supports high tenant retention.
- Ample parking and pet-friendly design enhance tenant appeal and community stability.
- Durable concrete block construction ensures long-term property integrity.
- Individual electrical metering combined with shared water/sewer/trash billing optimizes operational efficiency
- Potential redevelopment opportunity under RM-20 zoning increases future growth possibilities.
Executive Summary
2221 NW 58th Ave presents a prime multifamily investment opportunity in Broward County’s consistently strong rental submarket. This fully leased property offers a stable income stream with significant value-add potential. Built with durable concrete block construction, the property includes multiple 2-bedroom, 1-bath units, each averaging 950 square feet and equipped with central air conditioning and modern appliances. Shared laundry facilities and ample parking enhance tenant convenience, supporting long-term occupancy.
The asset benefits from an exceptional location, situated just off W Oakland Park Boulevard and minutes from the Florida Turnpike, providing seamless access to retail corridors, employment centers, and public transportation. Surrounded by national retailers such as CVS, 7-Eleven, and Dollar Tree, as well as neighborhood services and dining options, this area delivers sustained rental demand amid limited supply. Zoned RM-20, the property offers long-range flexibility for density increase or redevelopment, positioning it as an attractive option for portfolio expansion or market entry at $8,900,000.
The asset benefits from an exceptional location, situated just off W Oakland Park Boulevard and minutes from the Florida Turnpike, providing seamless access to retail corridors, employment centers, and public transportation. Surrounded by national retailers such as CVS, 7-Eleven, and Dollar Tree, as well as neighborhood services and dining options, this area delivers sustained rental demand amid limited supply. Zoned RM-20, the property offers long-range flexibility for density increase or redevelopment, positioning it as an attractive option for portfolio expansion or market entry at $8,900,000.
Property Facts
| Price | $12,193,000 CAD | Building Class | C |
| Price Per Unit | $277,114 CAD | Lot Size | 1.54 AC |
| Sale Type | Investment | Building Size | 43,536 SF |
| Cap Rate | 5.50% | Average Occupancy | 100% |
| No. Units | 44 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-22 - Multifamily | ||
| Price | $12,193,000 CAD |
| Price Per Unit | $277,114 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.54 AC |
| Building Size | 43,536 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | RM-22 - Multifamily |
Amenities
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 20 | - | - |
| 2+1.5 | 16 | - | - |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-41-26-11-0190 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $7,096,865 CAD |
Property Taxes
Parcel Number
49-41-26-11-0190
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$7,096,865 CAD
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Enclave Hills Apartments | 2221 NW 58th Ave
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