874 Deerwood Ln Chipley, FL 32428

Property Details for 874 Deerwood Ln

Year built

1982

Lot size

1.27 lot acres

Property type

Multifamily properties

Description

This exceptional 16-unit multifamily property presents a compelling investment opportunity in the thriving Chipley, Florida market. Situated on a desirable 1.27-acre lot at 874 Deerwood Lane, this two-story building boasts a prime location and excellent condition. The complex comprises eight one-bedroom, one-bathroom units, each measuring 550 square feet, and eight two-bedroom, one-bathroom units, each spanning 850 square feet. Built in 1982, the property has undergone substantial renovations exceeding $350,000 within the past year. These improvements encompass a brand-new septic system, a completely resurfaced driveway and parking lot, a modernized laundry facility, and a fresh coat of exterior paint. Furthermore, the roof was replaced in 2019, enhancing the property's longevity and reducing maintenance concerns. Eight of the units have been fully remodeled, offering immediate income potential and attractive living spaces for tenants. This turnkey investment is poised for strong returns, benefiting from its desirable location and recent upgrades. The property's size and unit mix cater to a diverse tenant base, ensuring consistent occupancy and rental income. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a sought-after Northwest Florida community.