20 Pickle Ln, Morehead, KY 40351

$2,250,000
: 3
BD
: 1
BA
: 1,200
SqFt

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List Price: $2,250,000
MLS#: 26027640
Status: ACTIVE
Type: Single Family Residential
Subtype: Single Family Residence
Bedrooms: 3
Bathrooms: 1
Full Baths: 1
Living Area: 1,200
Lot Size: 217,800

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Property Description

Exceptional investment opportunity featuring 14 fully leased single-family residences situated on 5 acres in a convenient location near I-64 and Cave Run Lake. All 14 homes were built in 2021, offering a newer residential rental portfolio with established tenants already in place. The property consists of five 3-bedroom, 2-bath homes with approximately 1,200 sq ft each; six 2-bedroom, 2-bath homes with approximately 900 sq ft each; and three 2-bedroom, 1-bath homes with approximately 960 sq ft each. Tenants are responsible for their own electric, while the landlord currently pays water and garbage. Each residence is served by septic. Adding even more potential to this income-producing property, the local Health Department has indicated that the acreage can accommodate one additional residence, subject to applicable approvals and permitting. With 14 newer single-family homes in one location, full occupancy, convenient interstate access and proximity to Cave Run Lake, this is a rare opportunity to acquire an established residential investment portfolio with potential for additional growth. Financial information, rent roll and additional property details available to qualified buyers.

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Additional Information

Year Built: 2021
Appliances: Refrigerator, Range
Sewer: Septic Tank
Foundation: Slab
Flooring: Vinyl
Heating: Electric, Heat Pump
Elementary School: Rowan Co
Middle School: Rowan Co
High School: Rowan Co
Water: Public
Roof: Shingle