Deerwood Apartments presents a well-maintained 16-unit multifamily asset located in Chipley, Florida, offering a strong combination of in-place income and recent capital improvements. The property consists of eight 1-bedroom/1-bath units (550 SF) and eight 2-bedroom/1-bath units (850 SF), providing a balanced unit mix that appeals to a broad tenant base. The asset has undergone significant upgrades, 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, resulting in a largely turnkey investment with reduced near-term capital expenditure needs. Positioned near I-10 and the growing Highway 77 corridor, the property benefits from steady rental demand and proximity to regional employment drivers, retail, and medical services. Chipley continues to see growth driven by its accessibility and affordability within the Northwest Florida market. With a recent price adjustment, Deerwood Apartments offers investors the opportunity to acquire a stabilized asset with operational upside and long-term growth potential in an emerging submarket.