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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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872 Deerwood Ln , Chipley, FL 32428
$1,425,000
Est. Payment: $7,872.92/mo
Status: Active | Days on site: 222
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ELCR - E29927
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Harrison Lilly Team
Owner/Operator

House Description

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. 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.

Highlights

Listed by Marcy L O'Donnell , 848-220-5555 Luxe Coastal Realty , 848-220-5555. Emerald Coast Multiple Listing Services

Property Type

Commercial Sale

County

Washington

Area

30 - Other Counties

Listing ID

990830

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Interior Features

Exterior Features

Principal Interest
$7,873
Taxes
$908

Home Price

$1,425,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$285,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$7,872.92

Principal

Taxes

Principal Taxes HOA Total
Monthly $7,872.92 $908.44 $0.00 $8,781.36
Yearly $94,475.04 $10,901.25 $0.00 $105,376.29
Total $2,834,251.11 $327,037.50 $0.00 $3,161,288.61

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Chipley, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Emerald Coast Multiple Listing Services, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T11:00:03.000Z

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