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$ 3,500,000
Pending
300 Pine Ridge Drive Morehead, KY 40351
37,386 SqFt
UPDATED:
Key Details
Property Type Vacant Land, Commercial
Sub Type Business
Listing Status Pending
Purchase Type For Sale
Square Footage 37,386 sqft
Price per Sqft $93
Subdivision City Limits
MLS Listing ID 26002179
Year Built 1978
Lot Size 40.000 Acres
Acres 40.0
Property Sub-Type Business
Property Description
Introducing Pine Ridge Apartments, a 48-unit multifamily investment opportunity offering scale, stable demand, and a peaceful natural setting. The property sits on approximately 4 acres and is surrounded by an additional 36 wooded acres, providing privacy while maintaining accessibility. The unit mix is well balanced to support diversified rental demand: Unit Breakdown: • 8 three-bedroom units • 16 two-bedroom units • 24 one-bedroom units Total: 48 units The community operates as HUD housing through the U.S. Department of Housing and Urban Development, offering consistent occupancy potential and dependable income streams. On-site amenities include a dedicated management office and a tenant laundry facility, enhancing convenience for residents and operational efficiency for ownership. This property presents an excellent opportunity for investors seeking a larger multifamily asset with established housing support, a strong unit mix, and room for operational or value-add improvements. Surrounded by wooded acreage, Pine Ridge Apartments combines income potential with a quiet, residential atmosphere.
Location
State KY
County Rowan
Zoning Other
Interior
Heating Electric
Cooling Electric
Exterior
Parking Features On Site, Paved
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Y/N N
Roof Type Shingle
Handicap Access No
Private Pool No
Building
Sewer Public Sewer
Listed by HomeLand Real Estate Inc - Mt Sterling
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