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39
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$1,425,000
Est. payment /mo
Active
872 Deerwood LN Chipley, FL 32428
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 990830
Source Emerald Coast Association of REALTORS®
Property Description
ANOTHER $100,000 PRICE REDUCTION! Deerwood Apartments is a fully occupied 16-unit multifamily asset offering immediate cash flow, significant recent capital improvements, and exceptional upside potential. The property features (8) 1BR/1BA units and (8) 2BR/1BA units, with approximately $350,000 invested in upgrades including a new septic system, new parking lot, full exterior repaint, updated on-site laundry facility (additional income stream), eight fully renovated units, eight refreshed units, and a 2019 roof. Strong in-place income, below-market rents, and minimal near-term capital expenditures create a clear path to increasing NOI. Conveniently located near I-10 and the rapidly growing Hwy 77 corridor with consistent rental demand. Aggressively priced and one of the strongest multifamily values currently available in Northwest Florida. 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
NEARBY SCHOOL & BUSINESS
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