300 Pine Ridge Drive,Morehead, KY 40351
Morehead, KY 40351
Description
Introducing Pine Ridge Apartments, a 48-unit multifamily investment opportunity offering scale, stable demand, and a peaceful natural setting. The property sits on approximately 4 acres and is surrounded by an additional 36 wooded acres, providing privacy while maintaining accessibility. The unit mix is well balanced to support diversified rental demand: Unit Breakdown: 8 three-bedroom units 16 two-bedroom units 24 one-bedroom units Total: 48 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, enhancing convenience for residents and operational efficiency for ownership. This property presents an excellent opportunity for investors seeking a larger multifamily asset with established housing support, a strong unit mix, and room for operational or value-add improvements. Surrounded by wooded acreage, Pine Ridge Apartments combines income potential with a quiet, residential atmosphere.
Details
| MLS # | 26002179 |
|---|---|
| Listing Type | For Sale |
| Style | Business |
| Building Name | Pine Ridge Apartments |
| Sub-Type | Resale |
| Status | Contingent |
| Year | 1978 |
| Days On Site | 206 |
| Listing Provided By | HomeLand Real Estate Inc - Mt Sterling | Talitha L Martin |
Features
| SQ Feet | 37,386 |
|---|---|
| Building(s) | 9 |
| Zoning | Other |
| Acreage | 40.00 |
Interior
| Cooling | Electric |
|---|---|
| Heating | Electric |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Shingle |
|---|---|
| Construction Materials | Brick, Wood Siding |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | On Site, Paved |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Area Information
| State | KY |
|---|---|
| County | Rowan |
| City | Morehead |
| Zip Code | 40351 |
| Area | 061 Rowan County |
| Subarea | Rowan County |
| Community Name | City Limits |
| Listing VS Median (in City Limits) | |
Price: $3,500,000 low | high Med: $215,000 sqft: 37,386 low | high Med: 2,650 $ / sqft: $94 low | high Med: $107 On site: 206 low | high Med: 57 | |
Market Activity 40351
Request a showing
Request a showing
Contact
Learn More About This Property
| State | KY |
|---|---|
| County | Rowan |
| City | Morehead |
| Zip Code | 40351 |
| Area | 061 Rowan County |
| Subarea | Rowan County |
| Community Name | City Limits |
| Listing VS Median (in City Limits) | |
Price: $3,500,000 low | high Med: $215,000 sqft: 37,386 low | high Med: 2,650 $ / sqft: $94 low | high Med: $107 On site: 206 low | high Med: 57 | |
 |  |  |
© 2026 Coldwell Banker McMahan. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker McMahan fully supports the principles of the Fair Housing Act and Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchises are not provided by, affiliated with or related to Coldwell Banker Real Estate LLC nor any of its affiliated companies.
