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.