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

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

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.