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628 Southwind Circle, North Palm Beach
$3,660,000
B26035280 MLS ⋅ North Palm Beach Village BLDG.
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!

628 Southwind Circle, North Palm Beach

Listing courtesy of Compass Florida LLC. Contact:

Selling Office: Rizo.com.

436 Gull Court, North Palm Beach
$570,000
4 Beds ⋅ 2 Baths ⋅ A12029557 MLS
Accepting Backups. Investor Special. Tenants in place. Seller Ready to Sell. 2023 Beautifully renovated 4 bedroom 2 bath with a 2 car garage. This lovely home features new tile floors throughout, paint inside and out. The kitchen has white wood cabinets, quartz counters, Stainless Steel appliances. Paver driveway. New impact windows and doors(2023). New metal roof (2023). Exterior paint (2025).Both bathrooms are updated. Master has a walk in closet. Master bath has double sinks and frame-less glass shower. sprinklers to keep yard nice and green. Close to the beach and the newly renovated North Palm Beach Country Club. Tenant Occupied. Rented for $3500 a month. Lease ends November 2026

436 Gull Court, North Palm Beach

Listing courtesy of Unity Investment Group, LLC. Contact:

Selling Office: Illustrated Properties.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional Multiple Listing Service. Real Estate listings held by brokerage firms other than Jack And Jill Team eXp Realty LLC are marked with the Broker Reciprocity logo (a little black house) and detailed information about them includes the name of the listing brokers.

Information is deemed accurate but not guaranteed.

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