$3,660,000
Sold · October 15, 2026
628 Southwind Circle
Explore the area: North Palm Beach homes for sale · Palm Beach County real estate
Sale Summary
What this home sold for
- Sold price
- $3,660,000
- Vs. list price
- 8.4% under
- Days on market
- 56
- Price per sq ft
- $332
This multi-family property in North Palm Beach Village sold for $3,660,000 on October 15, 2026. That was 8.4% below its final list price of $3,995,000. It first came on the market at $4,450,000, so the price was adjusted before it sold. It spent 56 days on the market.
Listing Snapshot
- Sold Price
- $3,660,000
- Sold On
- October 15, 2026
- Days on Site
- 56 Days
- Bedrooms
- 0
- Total Baths
- 0
- Living Area
- 11,040 sqft
- Total Sq Ft
- 11,040 sqft
- Lot Size
- 0.45 Acres
- Year Built
- 1968
- Property Type
- Multi-Family
- MLS #
- B26035280
- Property Tax
- $33,405 (2025)
- Subdivision
- NORTH PALM BEACH VILLAGE
- Development
- NORTH PALM BEACH VILLAGE
- County
- Palm Beach
- Status
- Sold
- Special Conditions
- Standard
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!
MLS media linkGeneral Features
- Property Type
- Multi-Family
- Status
- Sold
- Year Built
- 1968
- Property Condition
- Resale
- Number of Stories
- 3
- Lot Size (Acres)
- 0.45
- Living Sq Ft
- 11,040
- Total Sq Ft
- 11,040
- Sewer
- Public Sewer
- Water Source
- Public
- Zoning
- R3
Interior Features
- Cooling
- Central Air / Ceiling Fans / Electric
- Heating
- Central / Electric
- Flooring
- Tile
Exterior Features
- Construction
- Concrete / Stucco
- Roof
- Flat
- Exterior Features
- Balcony / Outdoor Living Area / Other
- Patio & Porch
- Covered / Patio / Balcony
- Lot Features
- Quarter To Half Acre Lot
- Waterfront
- Yes
- Waterfront Features
- Canal Access / Canal Front / Fixed Bridge / Lagoon / Navigable Water / Ocean Access / River Access
- Frontage
- Waterfront
- Frontage Length
- 210.00 ft
- View
- Bay
Community & HOA
- Utilities
- Cable Available / Electricity Connected / Sewer Connected / Water Connected
- Pets Allowed
- No Pet Restrictions / Yes
- Financing Terms
- Exchange1031
- Restrictions
- Ok To Lease / See Remarks
- MLS Area
- 5250
Schools
- Elementary School
- The Conservatory School at North Palm Beach
- Middle School
- Howell L. Watkins
- High School
- Palm Beach Gardens
About the Community
North Palm Beach Village is a community in North Palm Beach, Palm Beach County, Florida. Active listings are priced from $825,000 to $2,500,000. Homes were built between 1957 and 1972. Pure Equity lists homes in North Palm Beach Village and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 3
- Under Contract
- 1
- Median List Price
- $2,500,000
- Median $/Sq Ft
- $664
- Avg Days on Market
- 110
Frequently Asked Questions
- How do I schedule a tour of 628 Southwind Circle, North Palm Beach, FL 33408?
- Use the Tour button on this listing to request a showing of 628 Southwind Circle, North Palm Beach, FL 33408. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 628 Southwind Circle, North Palm Beach, FL 33408 still available?
- 628 Southwind Circle, North Palm Beach, FL 33408 is currently listed as Sold, and has been on the market 56 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 628 Southwind Circle, North Palm Beach, FL 33408?
- With 20% down ($799,000) on the $3,995,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 628 Southwind Circle, North Palm Beach, FL 33408 is about $20,995/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 628 Southwind Circle, North Palm Beach, FL 33408?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 628 Southwind Circle, North Palm Beach, FL 33408. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- What schools serve 628 Southwind Circle, North Palm Beach, FL 33408?
- 628 Southwind Circle, North Palm Beach, FL 33408 is zoned for The Conservatory School at North Palm Beach (elementary), Howell L. Watkins (middle), Palm Beach Gardens (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 628 Southwind Circle, North Palm Beach, FL 33408?
- Often, yes. The right offer on 628 Southwind Circle, North Palm Beach, FL 33408 depends on how it's priced against comparable multi-family sales in North Palm Beach, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Compass Florida LLC
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 23, 2026.
$3,660,000
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Listed by Sean Mooney, Compass Florida LLC
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Recent Sales
Recently sold homes in North Palm Beach Village
These are the last 6 recorded closings in North Palm Beach Village, with the price each home actually sold for rather than what it was listed at. They closed at a median of $474 per square foot. The most recent closed on August 31, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$570,000
Sold · August 31, 2026
436 Gull Court
4 bed · 2 bath · 1,578 sqft · $361/sqft
$10,000 under the asking price
Sold$600,000
Sold · February 10, 2026
603 Laurel Road
4 bed · 3 bath · 1,858 sqft · $323/sqft
$25,000 under the asking price
Sold$1,400,000
Sold · January 6, 2026
439 Lighthouse Drive
4 bed · 3 bath · 2,121 sqft · $660/sqft
$95,000 under the asking price
Sold$525,000
Sold · December 31, 2025
973 Lighthouse Drive
3 bed · 2 bath · 1,107 sqft · $474/sqft
$20,000 under the asking price
Sold$540,000
Sold · December 23, 2025
736 Tradewind Drive
0 bed · 0 bath
$100,000 under the asking price
Sold$540,000
Sold · December 23, 2025
736 Tradewind Drive
3 bed · 2 bath · 1,110 sqft · $486/sqft
$100,000 under the asking price
See every recorded sale in North Palm Beach Village or find out what your North Palm Beach Village home is worth.
