300 Pine Ridge Drive, Morehead, KY 40351
sale
$3,500,000
|
Other
Courtesy Of HomeLand Real Estate Inc - Mt Sterling
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.
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Property Features
- Age: 41-50 Years Old
- Cooling System: Electric
- Exterior Type: Wood Siding
- Exterior Type: Brick
- Heating System: Electric (Heating)
- MLSID: 26002179
- Roof Type: Shingle
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