628 Southwind Circle

Off Market

628 Southwind Circle

North Palm Beach FL 33408

11040 sq. ft.

19602 sq. ft.

Duplex

Last sold for $3,660,000

Sean Mooney, last sold this property on 15 October 2026 after 135 days on market.

Overview

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!

Features

11040 sq. ft. floor area

19602 sq. ft. lot size

Duplex

Estimated Value

Based on this property and similar duplexes sold in North Palm Beach over the last 12 months, the estimated median property value of 628 Southwind Circle is $742.5k.

Median value

$742.5k

Estimated value range

$2.5k - $3.66m

Median days on market

Estimated value trend

increase over the last 12 months

Average days on market is based on recent, comparable sales in North Palm Beach. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 628 Southwind Circle

2026

Sold

$3,660,000

15 Oct 2026 by Sean Mooney, of Compass Florida LLC

Happy sellers in North Palm Beach

74%

74% of sellers in North Palm Beach reported that their sale price either exceeded or met their price expectations.

North Palm Beach stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 15 reviews in North Palm Beach over the last 12 months.

Local market activity for duplexes in North Palm Beach

In the last 12 months, 8 duplexes similar to 628 Southwind Circle, have been sold.

This represents a 28% decrease in duplexes sales when compared to the previous 12 months.

Sold

For Sale

Interested in selling?

People are reaching out to these agents in North Palm Beach for a market analysis.

Peter Martinsen

at REMAX Ocean Properties | Juno Beach

(11 reviews)

Get a market analysis

Dawn Mansur

at Keller Williams Realty Jupiter

(45 reviews)

Get a market analysis

Lisa Cole

at ILLUSTRATED PROPERTIES LLC (WE

(63 reviews)

Get a market analysis

Dave Magua

at The Magua Group

(227 reviews)

Get a market analysis

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in North Palm Beach

Peter Martinsen

Peter Martinsen is a recommended agent for North Palm Beach. They have 4 local sales and collected 3 local reviews across the last 12 months.

5 (11 reviews)
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Dawn Mansur

Sellers who recommend Dawn Mansur have praised them for being local expert, clear communication, responsive, supportive, friendly, honest, and reliable

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Lisa Cole

Lisa Cole is an award winning recommended agent for North Palm Beach. They have 3 local sales and collected 2 local reviews across the last 12 months.

5 (63 reviews)
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Dave Magua

Sellers who recommend Dave Magua have praised them for being local expert, responsive, clear communication, detail-oriented, supportive, honest, and great negotiation