Student Housing Community Near
101 Lois Lane, Morehead, KY 40351
Stabilized student housing community near Morehead State University.
Type:Multifamily
- Added:
- Mar 5, 2026
- Days on Market:
- 82
- Last Refresh:
- Apr 6 at 12:16 am
Property Features for 101 Lois Lane
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Rachel Ridd (859) 306-0600
Listing office (859) 306-0600
Listing date Mar 5, 2026
Source Svn
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Rachel Ridd
HighLights
- High‑performing asset with a current NOI of $962,004 and a 7.67% cap rate, offered at $12,535,000, with a projected 10%+ cash‑on‑cash return for year 1.
- Fully stabilized, 110‑unit purpose‑built student housing community serving Morehead State University.
- Significant recent upgrades totaling $2.55M+, including new roofing, HVAC systems, appliances, parking lots, plumbing, lighting, flooring, and interior finishes.
- Proven demand and strong leasing performance supported by MSU's enrollment and limited competition in the market.
- Achieves an average rent of $1,005 per unit, positioning the property at the top of the local student housing market.
- Minutes from Morehead State University, offering convenient proximity to campus in a quiet residential setting.
Overview
The Townhomes and Flats at MSU represent a fully stabilized, purpose-built student housing community catering to Morehead State University in Morehead, Kentucky. The property features 110 units distributed across 13 buildings, incorporating five distinct floor plans that include both townhomes and flats. Located minutes from Morehead State University, the community offers convenient access to classes within a quiet residential environment. The current ownership has invested over $2.55 million in upgrades, including new flooring, shingled roofing, HVAC systems, appliances, parking lots, plumbing, lighting, and interior finishes. Current management has offered to continue managing the property. The property achieves an average rent of $1,005 per unit, positioning it at the top of the local student housing market. Proven demand from MSU’s enrollment base supports strong leasing performance. An experienced team is in place. The current Net Operating Income (NOI) is $962,004.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Morehead
- County
- Rowan
- State
- Kentucky
- Longitude
- -83.408
- Latitude
- 38.1973
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FAQs
What type of property is this?
Apartment building - Stabilized student housing community near Morehead State University.
Where is this apartment building located?
The property is located at 101 Lois Lane Morehead, KY.
What is the asking price?
The asking price for this property is $12,535,000.
What are key features of this property?
This property features: High‑performing asset with a current NOI of $962,004 and a 7.67% cap rate, offered at $12,535,000, with a projected 10%+ cash‑on‑cash return for year 1.; Fully stabilized, 110‑unit purpose‑built student housing community serving Morehead State University.; Significant recent upgrades totaling $2.55M+, including new roofing, HVAC systems, appliances, parking lots, plumbing, lighting, flooring, and interior finishes.
