$1,525,000
Chipley, FL 32428
MLS# 782383
10658 sqft
1 / 39
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.
Details
Maps
Contract Info
List Price/SqFt: 143.09
List Date: 2025-12-05
List Price: $1,525,000
Current Price: $1,525,000
Sub-Type: Multi-Family
Location
Sub Area: 1001 - Washington NE
Community/Resort: None
Waterfront: No
Directions: 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.
Area: 10 - Washington County
Street #: 872
Street Name: Deer Wood
Street Suffix: Lane
State: FL
Zip Code: 32428
County: Washington
Subdivision: [No Recorded Subdiv]
Parcel ID: 00000000-00-2072-0008
Legal Description: 8 4 13 1.27 ORB 981 P 367 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 981 P 367.
General Property Info
List Class: Apartment
Acreage: 1.27
Construction Status: Construction Complete
# of Units: 16
# of Stories in Building: 2
SqFt Tot Bldg: 10658
Year Built: 1982
Listing Info, Tax and Legal
HOA Fee: No
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.
Office/Member Info
Seller Concessioins: No
Association Amenities
Laundry: 1
Sale Type
As Is: 1
Floors in Unit/Home
Two: 1
Multi-Family
# of Units: 16
Status Change Info
Status: Active
Property Features
Sale Type: As Is
Listing Office: Luxe Coastal Realty Group LLC
Last Updated: May - 01 - 2026
Information deemed reliable but not guaranteed.