6650 Riggers Road

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6650 Riggers Road

Atlantis, FL 33462
Asking Price
$2.39M
Asset Type
Multifamily
Class
Class B

What's Special

6650 Riggers Road is situated in the suburban community of Atlantis, Florida, a centrally located area within Palm Beach County. The neighborhood is characterized by a mix of residential zones and professional medical offices, largely due to its proximity to the JFK Medical Center. Local amenities include the Atlantis Country Club and multiple retail corridors along Congress Avenue and Lantana Road. Residents have straightforward transportation access via the nearby Interstate 95 interchange and the Florida Turnpike, facilitating commutes to major employment hubs in West Palm Beach and Boca Raton. This multifamily asset is positioned for long-term residential use, providing housing solutions for a diverse tenant profile. The location is particularly favorable for healthcare professionals and support staff employed at the adjacent medical facilities. Additionally, the property appeals to small families and commuters seeking a quieter residential setting while maintaining accessibility to coastal business districts. The area's established infrastructure and proximity to essential services support high occupancy potential for traditional long-term leasing models.

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NOI
$80,000
Cap Rate
3.35%
DSCR
0.56
Underwater
Cash-on-Cash
-8.62%
Monthly Payment
$11,809.574
Annual Cash Flow
$-61,714.883

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