$1,800,000
Chipley, FL 32428
MLS# 760367
10658 sqft
1 / 39
Property Description
Introducing Deerwood Apartments, an exceptional investment opportunity in the highly sought-after NW Florida area. Nestled in the heart of Chipley, FL, this well-maintained multi-family property offers a total of 16 units on a picturesque tree-lined parcel spanning over an acre. The configuration includes eight 1 BR/1 Bath units (550 sqft each) and eight spacious 2 BR/1 Bath units (850 sqft each). This 2-story building has undergone significant upgrades in the past year, including a brand-new septic system, driveway, parking lot, laundry facility, and full exterior paint. Additionally, the roof was replaced in 2019. 8 units have been tastefully refreshed with new paint, flooring, and fixtures, while the other 8 have fully remodeled ensuring a turnkey investment with no detail overlooked. Residents will appreciate the prime location with easy access to I-10 and the vibrant amenities Chipley has to offer, including shopping, dining, and ample job opportunities. Deerwood Apartments is a stellar choice for investors seeking a property that truly stands out in a high-demand area. Don't miss your chance to own this charming community—schedule a viewing today!
Details
Maps
Contract Info
List Date: 2024-07-23
List Price: $1,800,000
List Price/SqFt: 168.89
Current Price: $1,800,000
Sub-Type: Multi-Family
Location
Area: 10 - Washington County
Street #: 872
Street Name: Deerwood
Street Suffix: Lane
State: FL
Zip Code: 32428
County: Washington
Sub Area: 1001 - Washington NE
Subdivision: [No Recorded Subdiv]
Community/Resort: None
Waterfront: No
Parcel ID: 00000000-00-2072-0008
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.
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
Construction Status: Construction Complete
# of Units: 16
# of Stories in Building: 2
Acreage: 1.27
SqFt Tot Bldg: 10658
Year Built: 1982
Status Change Info
Status: Active
Multi-Family
Year Built: 1982
# of Units: 16
Cap Rate: 5.5
Property Features
Sale Type: As Is
Listing Office: Luxe Coastal Realty Group LLC
Last Updated: March - 08 - 2025
Information deemed reliable but not guaranteed.