872 Deerwood Ln Chipley, FL 32428
Chipley AreaEstimated payment $9,250/month
About This Home
ANOTHER $100,000 PRICE REDUCTION! Deerwood Apartments is a fully occupied 16-unit multifamily asset offering immediate cash flow, significant recent capital improvements, and exceptional upside potential. The property features (8) 1BR/1BA units and (8) 2BR/1BA units, with approximately $350,000 invested in upgrades including a new septic system, new parking lot, full exterior repaint, updated on-site laundry facility (additional income stream), eight fully renovated units, eight refreshed units, and a 2019 roof. Strong in-place income, below-market rents, and minimal near-term capital expenditures create a clear path to increasing NOI. Conveniently located near I-10 and the rapidly growing Hwy 77 corridor with consistent rental demand. Aggressively priced and one of the strongest multifamily values currently available in Northwest Florida.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1982
Additional Features
- 2-Story Property
- 1.27 Acre Lot
Community Details
- No Home Owners Association
Map
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/15/2026 07/15/26 | Price Changed | $1,425,000 | -6.6% | $134 / Sq Ft |
| 05/01/2026 05/01/26 | Price Changed | $1,525,000 | -3.2% | $143 / Sq Ft |
| 01/30/2026 01/30/26 | Price Changed | $1,575,000 | -3.8% | $148 / Sq Ft |
| 12/05/2025 12/05/25 | For Sale | $1,638,000 | 0.0% | $154 / Sq Ft |
| 11/15/2024 11/15/24 | For Rent | $1,025 | 0.0% | -- |
| 10/08/2024 10/08/24 | Off Market | $1,025 | -- | -- |
Source: Central Panhandle Association of REALTORS®
MLS Number: 782383
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