48-Unit Apartment
New
For Sale
$3,500,000
300 Pine Ridge Drive, Morehead, KY 40351
Commercial Sale, Morehead, KY
Property Size37,386 SF
Lot Size4.00 Acres
Price / SF$93.62
Days on Market3
Property Features for 300 Pine Ridge Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-3
Zoning description
R3
Subdivision
City Limits
Directions
Take Exit 137 onto KY-32 toward Morehead, turn right onto Flemingsburg Rd toward Morehead, turn left onto Pine Ride Dr.
Standard status
Active
APN
062-00 00 033.00
Size
37,386 SF
Lot size
4.00 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
on-site management office
resident 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
(606) 356-9029
Added: Oct 19
Last Checked: Oct 21 at 11:06PM
MLS# 26028937
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Investment Insights
Based on property information with market context.
Pine Ridge Apartments is a 48-unit residential community in Morehead, Kentucky, with 37,386 square feet of building area on 4.001 acres. The unit mix comprises 24 one-bedroom, 16 two-bedroom, and 8 three-bedroom apartments. An on-site management office and resident laundry facility serve the property. Built in 1978, the buildings feature brick and wood siding, electric heating and cooling, shingle roofing, and public sewer service.
The property is subject to a HUD housing program, including existing program requirements and restrictions; buyer approval from HUD is required. The site is surrounded by an additional 36 wooded acres and is zoned R-3.
The property is subject to a HUD housing program, including existing program requirements and restrictions; buyer approval from HUD is required. The site is surrounded by an additional 36 wooded acres and is zoned R-3.
Key Highlights
- 48 apartments: 24 one‑bedroom, 16 two‑bedroom, and 8 three‑bedroom units
- 37,386 square feet of building area on 4.001 acres
- HUD housing program; buyer must obtain HUD approval and comply with existing program requirements and restrictions
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Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
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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
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Market
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Frequently Asked Questions
What type of property is this?
Apartment building - HUD-program apartments include an on-site management office and resident laundry facility.
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 apartments: 24 one‑bedroom, 16 two‑bedroom, and 8 three‑bedroom units; 37,386 square feet of building area on 4.001 acres; HUD housing program; buyer must obtain HUD approval and comply with existing program requirements and restrictions
