Most of the passengers suffered minor injuries like back and leg pains, according to Hollywood Fire Rescue.
The elevator at the Oceancrest Beach apartments, 3901 S. Ocean Dr., began its rapid descent from the 12th floor about 12:30 p.m.
Hollywood Fire Rescue Lt. John Hicks said an automatic braking system probably kept the elevator from falling faster.
''The people inside the elevator reported that, as the doors were closing, it rapidly descended,'' Hicks said. ``It hit the bottom real hard and bounced.''
Most modern elevators have emergency braking systems designed to their descent.
When the elevator hit the ground floor, some passengers were knocked into each other and fell, firefighters said.
''The people were pretty frightened,'' Hicks said.
Paramedics took three of the elevator's passengers to Aventura Hospital in north Miami-Dade County.
The other eight were taken to Memorial Regional Hospital in Hollywood. Their names and conditions were not released.
After the incident, all three elevators inside the apartment building were shut down.
Fire, building, electrical and elevator inspectors all came to the scene and examined the elevator.
More safety inspections are scheduled today.
The 943-unit, 16-story Oceancrest Beach apartment complex, built in 1968, is one of the latest in a series of waterfront condos being converted to rental apartments.
A property manager at Oceancrest could not be reached for comment.
Some residents said the elevators at the apartment complex malfunction regularly.
''It always seems like one of the elevators isn't working,'' said Mark Singer, an Oceancrest resident. ``Sometimes people get stuck in them, but I haven't seen problems this severe.''
But Emma Snyder said she's lived at the Oceancrest for more than 20 years and has never seen the elevators malfunction.
She said Sunday's incident won't stop her from using them. ''Nothing like this has ever happened,'' Snyder said. ``I'm not worried about it.''