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Active
872 Deerwood LN Chipley, FL 32428
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 990830
Source Emerald Coast Association of REALTORS®
Property Description
INVESTORS -- $50K PRICE REDUCTION. Deerwood Apartments is a fully occupied 16-unit multifamily asset offering immediate cash flow and clear upside. Unit mix includes (8) 1BR/1BA and (8) 2BR/1BA units. Recent ~$350K in improvements: new septic, parking lot, exterior paint, updated laundry facility (additional income), plus 8 fully renovated units and 8 refreshed units. Roof replaced 2019. Strong in-place income with below-market rents provides a path to increased NOI. Located near I-10 and the growing Hwy 77 corridor with consistent rental demand. Turnkey asset with minimal CapEx and built-in upside at a newly improved price. Conveniently positioned near I-10, shopping, dining, and medical services, the property also benefits from Chipley's continued revitalization and growth along Hwy 77. With strong rental demand, recent improvements already in place, and a strategic price reduction, Deerwood Apartments offers stability today with long-term upside for savvy investors.
Location
State FL
County Washington
Area 30 - Other Counties
Direction From the beach, take Hwy 79 to FL 277/Roche Ave and turn right. Turn right on Brickyard Rd and then left on Deerwood Lane.
Exterior
Garage No
Building
Faces From the beach, take Hwy 79 to FL 277/Roche Ave and turn right. Turn right on Brickyard Rd and then left on Deerwood Lane.
Others
Pets Allowed No
Tax ID 00000000-00-2072-0008
Listed by Marcy L O'Donnell Luxe Coastal Realty
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