872 Deerwood Lane
Chipley, FL 32428
$1,350,000
Active
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!**
Listing details MLS# 990830
Location, Tax and Legal
- Area
- 30 - Other Counties
- Sub area
- 3005 - Washington County
- County
- Washington
- Parcel ID
- 00000000-00-2072-0008
- 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.
General Property Info
- Property type
- Commercial for Sale
Remarks and Misc
- 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.
