1225 Lee Dr Bowling Green, KY 42101

Property Details for 1225 Lee Dr

Property type

Commercial real estate

Description

Lee Pointe Apartments presents a compelling value-add opportunity in Bowling Green, Kentucky. This multifamily property consists of 72 units spread across 11 two-story buildings, boasting a current occupancy rate of 95%. The property generates a substantial net operating income (NOI) of $658,078, yielding an attractive 8.00% capitalization rate. Located at 1225 N Lee Dr, Bowling Green, KY 42101, in Warren County, this Class C property offers significant potential for increased profitability through strategic renovations and operational improvements. The existing units provide comfortable living spaces, and the property benefits from its location within a vibrant community, offering convenient access to local amenities. The property's strong occupancy rate underscores its appeal to residents seeking affordable and convenient housing in Bowling Green. This is an exceptional opportunity for investors seeking a stable, income-producing asset with significant upside potential in a growing market. The property's current NOI and cap rate provide a solid foundation for future growth, making it an attractive investment for experienced multifamily investors. The 72 units offer a substantial scale for potential improvements and increased revenue generation. This is a rare opportunity to acquire a well-located, income-producing apartment complex with significant potential for value enhancement.