101 Lois Lane Morehead, KY 40351
Purpose-built student housing community near Morehead State University.
Type:Multifamily
- Added:
- Nov 21, 2025
- Days on Market:
- 133
- Last Refresh:
- Apr 2 at 12:42 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 Nov 21, 2025
Source Svnstone
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
Overview
Stabilized Student Housing Near MSU
The Townhomes and Flats at MSU is a fully stabilized, purpose-built student housing community serving Morehead State University in Morehead, Kentucky. The property consists of 13 buildings with 110 units, including a model home/office, across five distinct floor plans, offering a mix of spacious townhome and flat-style residences. Located just minutes from campus, it is ideally positioned to capture strong student demand while offering a quiet residential environment. Since acquiring the property in 2023, current ownership has invested over $2.55 million in capital improvements, including unit renovations and community enhancements. Upgrades include new flooring, all new shingled roofing, HVAC systems, appliances, parking lots, plumbing, lighting, and interior finishes. The property achieves an average rent of $1,005 per unit. Over 50% of residents renewed at a higher price. It is consistently 100% occupied. The current NOI is $962,004. The property is offered at $12,535,000, reflecting a 7.67% cap rate, with a projected 10%+ cash-on-cash return for year 1. A capable local team provides professional management of the property. Limited competition from purpose-built student housing in Morehead creates ongoing demand stability and rent growth potential.
Property Profile
Insight Report
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
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Purpose-built 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: Attractive Financial Profile: Strong NOI of $962,004, priced at $12,535,000 with a 7.67% cap rate.; Fully Renovated: $2.55M+ invested in upgrades, including new flooring, roofing, HVAC, appliances, parking lots, plumbing, lighting, and interior finishes.; Market‑Leading Rents & Occupancy: Achieves top‑of‑market average rent of $1,005 per unit with consistent 100% occupancy.
