872 Deerwood LnChipley, FL 32428

Property Details for 872 Deerwood Ln

Year built

1982

Property size (Sq ft)

10,658 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 16-unit apartment building, located at 872 Deerwood Lane in Chipley, Florida, presents a compelling investment opportunity. The property boasts a desirable location, offering easy access to I-10 and the amenities of Chipley, including shopping, dining, and employment opportunities. The two-story building, constructed in 1982, sits on a spacious 55,321.2 square foot lot, providing ample space for residents and future development. The complex comprises eight one-bedroom, one-bathroom units (550 sq ft each) and eight two-bedroom, one-bathroom units (850 sq ft each), totaling 10,658 square feet. Recent upgrades include a new septic tank, driveway and parking lot, laundry facility, and a complete exterior paint job. The roof was replaced in 2019, and eight units have undergone full renovations. The remaining eight units have been refreshed with new paint, flooring, and fixtures. Currently operating at 100% occupancy, this Class B multifamily property offers a strong cap rate and significant potential for future returns. This is a turnkey investment ready for immediate income generation. The property's prime location and recent improvements make it an attractive option for investors seeking a stable and profitable addition to their portfolio. The property is situated in Washington County, Florida, zip code 32428.

Location Insight

City

Chipley

County

Washington

State

Florida

Latitude

30.7657

Longitude

-85.5661

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