872 Deerwood Lane, Chipley, FL 32428 (MLS# 990830)

872 Deerwood Lane, Chipley, FL 32428

$1,350,000

Property Type: Commercial for Sale Status: Active

Current Price: $1,350,000 List Date: 12/05/2025 Last Modified: 10/22/2026

Overview

Description

**ANOTHER SIGNIFICANT PRICE REDUCTION -- INVESTORS, NOW IS THE TIME!** Deerwood Apartments presents an exceptional opportunity to acquire a **100% occupied, 16-unit multifamily investment** with immediate cash flow, substantial recent capital improvements, and tremendous upside potential! Featuring (8) 1BR/1BA units and (8) 2BR/1BA units, this stabilized asset has benefited from approximately **$350,000 in recent improvements**, including a new septic system, new parking lot, complete exterior repaint, updated on-site laundry facility providing additional income, eight fully renovated units, eight refreshed units, and a roof replaced in 2019. With strong in-place income, below-market rents, and minimal anticipated near-term capital expenditures, investors have a compelling opportunity to increase NOI without taking on a major renovation project. Ideally situated near I-10 and the growing Highway 77 corridor, Deerwood benefits from convenient access to employment, shopping, and everyday ... (Read more)

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.

Listing Details MLS# 990830

Contract Info

GCCMLS Number: 43959542
Listing Board: Emerald Coast

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

Multi-Family

# of Units: 16

More Information

Property Features

Class: Multi-Family

Listing Office: Luxe Coastal Realty

Listing Agent: Marcy L O'Donnell

Last Updated: October - 22 - 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.