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101 Lois Lane Morehead, KY 40351

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For Sale
$12,535,000

Stabilized student housing community near Morehead State University.

Type:Multifamily
Added:
Mar 5, 2026
Days on Market:
27
Last Refresh:
Mar 26 at 12:25 am

Property Features for 101 Lois Lane

General Information

Standard status
Active
Property subtype
Multifamily

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Listing Contact
Rachel Ridd

Listing agent Rachel Ridd

Listing office

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


Overview

Student Housing Community Near MSU

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.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Daycare Center Big Box & Wholesale Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Morehead
County
Rowan
State
Kentucky
Longitude
-83.408
Latitude
38.1973

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.
More about this property
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