Listing Office: Luxe Coastal Realty
Description
Now offered at a significantly improved price, Deerwood Apartments presents a compelling value-add opportunity in Northwest Florida. Located at 872 Deerwood Lane in Chipley, this well-maintained 16-unit community sits on just over one acre and features a balanced unit mix of eight 1BR/1BA units (550 SF) and eight 2BR/1BA units (850 SF). The property has benefited from substantial capital improvements, including a new septic system, new driveway and parking lot, full exterior repaint, updated on-site laundry facility, and a 2019 roof. Eight units have been fully renovated with the remaining units refreshed, providing a largely turnkey asset with durable, investor-friendly upgrades. Conveniently positioned near I-10, shopping, dining, and medical services, the property also benefits from Chipley's continued revitalization and growth along Hwy 77. With strong rental demand, recent improvements already in place, and a strategic price reduction, Deerwood Apartments offers stability today with long-term upside for savvy investors.
Location
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Listing information provided courtesy of the Emerald Coast MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 17th April, 2026 11:33 PM (UTC)
