Ad #7812224
MLS #B26035280
Presenting one of the most unique multifamily properties in all
628 Southwind Cir, North Palm Beach, FL 33408
$4,450,000
3Beds
--Baths
11,040Sqft
0.45Acres
About this property
Presenting one of the most unique multifamily properties in all of Palm Beach County, welcome to Cutler's Cove in North Palm Beach. This waterfront, twelve (12) unit apartment complex is 100% leased with virtually zero turnover in the last five years is the cash cow you have been waiting for! Cutler's Cove has a diverse unit mix consisting of five (5) one bedroom units, five (5) two bedroom units, one (1) three bedroom unit, and a studio apartment with a GLA of approximately 11,040 SF and an average of 829 SF per unit. Additionally, this property is also situated on an enormous cove with 210' of linear water-frontage, providing tenants beautiful waterfront views that demand a premium. This water-frontage gives any value-add investor the rare ability install a large dock capable of accommodating several boat slips, which will undoubtedly produce additional rental income. With just one fixed bridge (with a maximum height clearance of 17') before hitting the intracoastal waterway, this is truly one of the most unique value-add opportunities in South Florida's multifamily market. All twelve (12) units were renovated after the current owner purchased the property and every unit has ceramic tile floors, durable millwork throughout, and granite countertops in both the kitchen and bathrooms. Each unit also has its own private, waterfront balcony with beautiful views at any time of the day. other building amenities include complete hurricane impact windows & doors, two staircases on either side of the building, and most importantly, a top of the line elevator for tenants unable to utilize stairs. The exterior of the building was painted within the last twelve months and the asphalt parking lot was redone and re-striped at the same time. Currently, the gross monthly income is approximately $20,500 which gives an average for all twelve units of only $1.85 PSF and is far below current market rates in the area. In addition, all twelve units are on month-to-month leases, which gives any investor the ability to raise rents immediately after the acquisition. When comparing the average rent per unit at the subject property ($1,705/month) to the Palm Beach County average ($2,530/month), it is clear to see that there is a massive opportunity for growth here with this asset. For the conservative investors, bumping the average rent to an affordable rate of $2,000/month (20% below county average) per unit would still generate a 17% increase to the monthly gross income without spending a dollar and would take the annual income from $245,460 to $288,000 overnight. Opportunities like this do not last long!
Property Features
3 Beds
0 Baths
11,040 Sqft
Built in 1968
0.45 Acres
3 Stories
On Beachfront
Siding: Concrete Block - With Stucco
Flat Roof
Central, Electric (Heating)
$33,405 / yr property tax
Palm Beach County
NORTH PALM BEACH VILLAGE Community
Additional Photos
Contact Information
Sean Mooney
Compass
561-789-7208
Location
Listing Agent: Sean Mooney (License #: 3366223) 561-789-7208
Broker: Compass 999-999-9999 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Compass 999-999-9999 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026
Photo Gallery
$4,450,000
3
Beds
--
Baths
11,040
Sqft
628 Southwind Cir, North Palm Beach, FL 33408
By contacting this agent you agree to these Terms and Conditions.
MLS# B26035280
Presenting one of the most unique multifamily properties in all
$4,450,000
628 Southwind Cir, North Palm Beach, FL 33408
3
Beds
--
Baths
11,040
Sqft
0.45
Acres
$4,450,000
628 Southwind Cir, North Palm Beach, FL 33408
3 Beds
-- Baths
11,040 Sqft
0.45 Acres
Presenting one of the most unique multifamily properties in all of Palm Beach County, welcome to Cutler's Cove in North Palm Beach. This waterfront, twelve (12) unit apartment complex is 100% leased with virtually zero turnover in the last five years is the cash cow you have been waiting for! Cutler's Cove has a diverse unit mix consisting of five (5) one bedroom units, five (5) two bedroom units, one (1) three bedroom unit, and a studio apartment with a GLA of approximately 11,040 SF and an average of 829 SF per unit. Additionally, this property is also situated on an enormous cove with 210' of linear water-frontage, providing tenants beautiful waterfront views that demand a premium. This water-frontage gives any value-add investor the rare ability install a large dock capable of accommodating several boat slips, which will undoubtedly produce additional rental income. With just one fixed bridge (with a maximum height clearance of 17') before hitting the intracoastal waterway, this is truly one of the most unique value-add opportunities in South Florida's multifamily market. All twelve (12) units were renovated after the current owner purchased the property and every unit has ceramic tile floors, durable millwork throughout, and granite countertops in both the kitchen and bathrooms. Each unit also has its own private, waterfront balcony with beautiful views at any time of the day. other building amenities include complete hurricane impact windows & doors, two staircases on either side of the building, and most importantly, a top of the line elevator for tenants unable to utilize stairs. The exterior of the building was painted within the last twelve months and the asphalt parking lot was redone and re-striped at the same time. Currently, the gross monthly income is approximately $20,500 which gives an average for all twelve units of only $1.85 PSF and is far below current market rates in the area. In addition, all twelve units are on month-to-month leases, which gives any investor the ability to raise rents immediately after the acquisition. When comparing the average rent per unit at the subject property ($1,705/month) to the Palm Beach County average ($2,530/month), it is clear to see that there is a massive opportunity for growth here with this asset. For the conservative investors, bumping the average rent to an affordable rate of $2,000/month (20% below county average) per unit would still generate a 17% increase to the monthly gross income without spending a dollar and would take the annual income from $245,460 to $288,000 overnight. Opportunities like this do not last long!
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Property Details
HOME DETAILS
3 Beds
0 Baths
11,040 Sqft
Built in 1968
0.45 Acres
3 Stories
BEACH & VIEW
On Beachfront
EXTERIOR
Siding: Concrete Block - With Stucco
Flat Roof
INTERIOR
Central, Electric (Heating)
FINANCIAL & COMMUNITY
$33,405 / yr property tax
Palm Beach County
NORTH PALM BEACH VILLAGE Community
See More Details
Location
Mortgage Calculator
Ad Statistics
Ad Number
7812224
Viewed
66 times
Listing Status
Active
Added
Jun 02, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
BeachesMLS
Source Property ID
B26035280
Listing Agent: Sean Mooney (License #: 3366223) 561-789-7208
Broker: Compass 999-999-9999 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Compass 999-999-9999 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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