16-Unit Apartment
For Sale
Contact for pricing
415 Upper Stone Avenue, Bowling Green, KY 42101
Two multifamily buildings offer consistent two-bedroom layouts with 14 of 16 units occupied.
Property Size6,960 SF
Price / SF$305.32
Days on Market164
Property Features for 415 Upper Stone Avenue
General Information
Standard status
Active
Size
6,960 SF
Property subtype
Multifamily
Zoning
Multifamily
Occupancy
88%
Units
Unit Mix
16 x 2BR/2BA
Multifamily Units
16
Building Details
Year Built
2014
Buildings
2
Stories
2
Units
16
Listing Agency:
Coldwell Banker Commercial Legacy Group
Listed By:
Travis Ayers · License #KY
Source:
Crexi
Added: May 6
Changed: Oct 13
Last Checked: Oct 16 at 6:48AM
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 Coldwell Banker Commercial Legacy Group
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Investment Insights
Based on property information with market context.
This multifamily offering includes two 8-plex apartment buildings with 16 units in total. Each apartment provides a two-bedroom, two-bathroom configuration and approximately 870 square feet of living space. The buildings were constructed in 2014 and 2015, providing a relatively recent asset profile across the property.
Occupancy currently stands at 14 of the 16 units, supporting ongoing rental operations. The property is located at 415 Upper Stone Avenue in Bowling Green, Kentucky, and is zoned Multifamily.
Occupancy currently stands at 14 of the 16 units, supporting ongoing rental operations. The property is located at 415 Upper Stone Avenue in Bowling Green, Kentucky, and is zoned Multifamily.
Key Highlights
- Two 8‑plex buildings with 16 units total
- Each unit has 2 bedrooms, 2 bathrooms, and approximately 870 square feet
- 14 of 16 units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,095
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,221,900
$1.2M
Cap Rate 7%
$872,786
$872.8K
Cap Rate 9%
$678,833
$678.8K
Market Conditions
NOI Build-Up for 6,960 SF
Gross rent
$116.9K $16.80/SF
− Vacancy
−$5.8K −$0.84/SF
EGI
$111.1K $15.96/SF
− OpEx
−$50.0K −$7.18/SF
NOI
$61.1K $8.78/SF
Area
Warren County, KY
Vacancy
5.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,221,900
Cap Rate 7%
$872,786
Cap Rate 9%
$678,833
Alternative Uses
Best Use
Apartment 5plus
$872.8K
$763.7K – $1.02M
NOI $61,095 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,600 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two multifamily buildings offer consistent two-bedroom layouts with 14 of 16 units occupied.
Where is this apartment building located?
The property is located at 415 Upper Stone Avenue Bowling Green, KY.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: Two 8‑plex buildings with 16 units total; Each unit has 2 bedrooms, 2 bathrooms, and approximately 870 square feet; 14 of 16 units currently occupied
