1502 Kirkland Rd Chipley, FL 32428
- Multifamily properties
- 7,916 SF
- 3.01 lot acres
Current Use by Public Records
- Multifamily properties
Property Details for 1502 Kirkland Rd
- Year built
- 2020
- Lot size
- 3.01 lot acres
- Property size
- 7,916 SF
- Property type
- Multifamily properties
Description
This exceptional multifamily investment property, located at 1502 Kirkland Road in Chipley, Florida, presents a rare opportunity to acquire a high-performing asset with significant upside potential. Built in 2020, the complex boasts a total of 7 units, comprising two 2-bedroom/2-bathroom units and five 2-bedroom/1-bathroom units. All units are currently fully leased, generating immediate and consistent rental income. The property sits on a substantial 3.01-acre lot, providing ample space and potential for future development. Furthermore, significant groundwork has already been laid for expansion. The seller has completed comprehensive engineering work, including detailed site construction plans, grading designs, and building drawings for the addition of four new townhomes. This expansion project has already received county approval, streamlining the permitting and construction process for a future owner. This turnkey investment offers a blend of immediate cash flow and exciting growth prospects, making it an ideal acquisition for savvy investors seeking a strong return on investment in a desirable Florida market. The property's 7,916 square feet of living space is well-maintained and ready for immediate occupancy by tenants. The existing units are in excellent condition, minimizing the need for immediate capital expenditures. This combination of existing income and approved expansion plans makes this a truly unique and compelling investment opportunity.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chipley
- County
- Washington
- State
- Florida
- Longitude
- -85.5578
- Latitude
- 30.77476
