39
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$1,350,000
Est. payment /mo
Active
872 Deerwood LN Chipley, FL 32428
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 990830
Source Emerald Coast Association of REALTORS®
Property 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 amenities. **Whether you're acquiring your first multifamily property or expanding an established portfolio, THIS IS ONE TO TAKE SERIOUSLY!** Ownership has made another meaningful price adjustment and is ready to entertain serious offers. **The heavy lifting has been done, the income is already flowing, and the opportunity to capture additional value is yours. Don't wait for another investor to recognize what this property has to offer!** 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.
Location
State FL
County Washington
Area 30 - Other Counties
Direction 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.
Exterior
Garage No
Building
Faces 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.
Others
Pets Allowed No
Tax ID 00000000-00-2072-0008
Listed by Marcy L O'Donnell Luxe Coastal Realty
NEARBY SCHOOL & BUSINESS
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