872 Deer Wood Lane, Chipley, FL 32428 (MLS# 782383)

872 Deer Wood Lane, Chipley, FL 32428

$1,425,000

Property Type: Commercial for Sale Square Footage: 10,658 Lot Size (sq. ft.): 55,321 Status: Active

Current Price: $1,425,000 List Date: 12/05/2025 Last Modified: 7/15/2026

Overview

Description

ANOTHER $100,000 PRICE REDUCTION! Deerwood Apartments is a fully occupied 16-unit multifamily asset offering immediate cash flow, significant recent capital improvements, and exceptional upside potential. The property features (8) 1BR/1BA units and (8) 2BR/1BA units, with approximately $350,000 invested in upgrades including a new septic system, new parking lot, full exterior repaint, updated on-site laundry facility (additional income stream), eight fully renovated units, eight refreshed units, and a 2019 roof. Strong in-place income, below-market rents, and minimal near-term capital expenditures create a clear path to increasing NOI. Conveniently located near I-10 and the rapidly growing Hwy 77 corridor with consistent rental demand. Aggressively priced and one of the strongest multifamily values currently available in Northwest Florida.

Listing Details MLS# 782383

Contract Info

List Price/SqFt: 133.7
Sub-Type: Multi-Family

Location

Area: 10 – Washington County
Street #: 872
Street Name: Deer Wood
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

Multi-Family

# of Units: 16

Listing Info, Tax and Legal

HOA Fee: No

More Information

Remarks & Misc

Remarks: ANOTHER $100,000 PRICE REDUCTION! Deerwood Apartments is a fully occupied 16-unit multifamily asset offering immediate cash flow, significant recent capital improvements, and exceptional upside potential. The property features (8) 1BR/1BA units and (8) 2BR/1BA units, with approximately $350,000 invested in upgrades including a new septic system, new parking lot, full exterior repaint, updated on-site laundry facility (additional income stream), eight fully renovated units, eight refreshed units, and a 2019 roof. Strong in-place income, below-market rents, and minimal near-term capital expenditures create a clear path to increasing NOI. Conveniently located near I-10 and the rapidly growing Hwy 77 corridor with consistent rental demand. Aggressively priced and one of the strongest multifamily values currently available in Northwest Florida.

Office/Member Info

Seller Concessioins: No

Association Amenities

Laundry: Yes

Sale Type

As Is: Yes

Floors in Unit/Home

Two: Yes

Property Features

Sale Type: As Is

Listing Office: Luxe Coastal Realty Group LLC

Last Updated: July – 15 – 2026

Information deemed reliable but not guaranteed.