48-Unit Multifamily Investment
For Sale
$3,500,000
Pending
300 Pine Ridge Drive, Morehead, KY 40351
COMMERCIAL - Morehead, KY
Property Size37,386 SF
Lot Size40.00 Acres
Days on Market201
Property Features for 300 Pine Ridge Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R3
Subdivision
City Limits
Directions
From Exit 137, turn right onto Flemingsburg Rd toward Morehead, go 0.8 miles the property will be on your left.
Standard status
Pending
APN
062-00 00 033.0, 062-00 00 032.00
Size
37,386 SF
Lot size
40.00 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
dedicated management office
tenant laundry facility
Building Details
Year built
1978
Building materials
Brick, Wood Siding
Roof type
Shingle
Listing Agency:
HomeLand Real Estate Inc - Mt Sterling
(606) 356-3063
Listed By:
Talitha L Martin · License #263140
(606) 356-9029
Added: Feb 5
Changed: Aug 4
Last Checked: Aug 25 at 5:06AM
MLS# 26002179
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Pine Ridge Apartments presents a multifamily investment opportunity, featuring 48 units situated on approximately 4 acres, complemented by an additional 36 wooded acres. The unit mix includes 8 three-bedroom units, 16 two-bedroom units, and 24 one-bedroom 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. The property, totaling 37386 square feet, is located in Morehead, Kentucky.
Key Highlights
- 48‑unit multifamily property offering scale and investment potential.
- Consistent occupancy potential and dependable income streams through HUD housing.
- Balanced unit mix with one, two, and three‑bedroom units to support diversified rental demand.
Property Analytics
Property Profile
Current Use
Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 40351, KY
22,305
Population
9,497
Households
2.3
Avg Household Size
33
Median Age
27%
College-Educated
88%
High-School Grad
268.2 sq mi
ZIP Area
83
Density / Sq Mi
$51,110
Median Household Income
$26,278
Median Earnings
$775
Median Rent
$163,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with stable demand and peaceful natural setting.
Where is this apartment building located?
The property is located at 300 Pine Ridge Drive Morehead, KY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 48‑unit multifamily property offering scale and investment potential.; Consistent occupancy potential and dependable income streams through HUD housing.; Balanced unit mix with one, two, and three‑bedroom units to support diversified rental demand.
