872 Deerwood Ln Chipley, FL 32428

Property Details for 872 Deerwood Ln

Lot size

1.27 lot acres

Property type

Commercial real estate

Description

This exceptional 16-unit multifamily property, located at 872 Deerwood Lane in Chipley, Florida, presents a compelling investment opportunity. Situated on a desirable 1.27-acre lot, this two-story building offers a mix of eight one-bedroom, one-bathroom units (each 550 square feet) and eight two-bedroom, one-bathroom units (each 850 square feet). Constructed in 1982, the property has undergone significant recent upgrades, including a brand-new septic tank, completely resurfaced driveway and parking lot, a renovated laundry facility, and a fresh coat of exterior paint. The roof was replaced in 2019, adding to the property's longevity and reduced maintenance needs. Eight units have been fully remodeled, while the remaining eight have been refreshed with new paint, flooring, and fixtures, ensuring a high standard of quality throughout. Currently boasting 100% occupancy, this property enjoys a prime location with convenient access to Interstate 10 and a variety of amenities, including grocery stores, retail businesses, restaurants, and numerous employment opportunities. This strong cap rate and high occupancy make this a truly attractive investment prospect in a high-demand Northwest Florida area. The property's excellent location and recent upgrades combine to create a stable and profitable investment opportunity. Don't miss this chance to add a high-performing asset to your portfolio.

Location Insight

City

Chipley

County

Washington

State

Florida

Longitude

-85.5661

Latitude

30.7657