872 Deerwood Lane, Chipley, FL 32428
$1,525,000
Property Type:
Commercial for Sale
Status:
Active
Current Price:
$1,525,000
List Date:
12/05/2025
Last Modified:
5/01/2026
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.
Supplements: 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.
More Information MLS# 990830
Contract Info
GCCMLS Number: 43959542
Listing Board: Emerald Coast
List Date: 2025-12-05
List Price: $1,525,000
Location, Tax and Legal
Sub Area: 3005 - Washington County
Legal Description: 8 4 13 1.27 ORB 1253 P 724 BEG. 660'E.,337.3' S.OF NWC OF SW1/4 OF SW1/4 OF NW1/4, RUN W 335.7' TO POB, S 294' TO SR 280, W 40', N 180', W 170', N 234.88', E 210', S 120.88 TO POB. AS DESC IN ORB 1253 P 724. ESMTS IN ORB 1253 P 726 & ORB 1253 P 735.
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: 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.
Class
Multi-Family: 1
Multi-Family
# of Units: 16
None
Current Price: $1,525,000
Status Change Info
Status: Active
Location Tax and Legal
Area: 30 - Other Counties
Street #: 872
Street Name: Deerwood
Street Suffix: Lane
State: FL
Zip Code: 32428
County: Washington
Parcel ID: 00000000-00-2072-0008
Property Features
Class: Multi-Family
Listing Office:
Luxe Coastal Realty
Listing Agent:
Marcy L O'Donnell
Last Updated: May - 01 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.