1367 Clay St Bowling Green, KY 42101

This exceptional 38-unit apartment complex, located at 1367 Clay Street in Bowling Green, Kentucky, presents a compelling investment opportunity. The property boasts 18,038 square feet across five buildings situated on a 1.27-acre lot, just steps from Western Kentucky University. Built in 1995 and extensively renovated in 2023, the complex features 38 one-bedroom, one-bathroom units, each with updated kitchens including granite countertops and stainless-steel appliances. The property also includes a separate office space with potential for conversion to an additional unit and a laundry room. All units are individually metered for water and equipped with energy-efficient PTAC heating and cooling systems. The complex enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $274,021 and a 10.54% cap rate. Over $900,000 was invested in recent renovations, including new kitchen cabinets, appliances, and fixtures, as well as three-year-old roofs. The strategic location, a two-minute walk from Western Kentucky University (serving over 17,000 students), and proximity to a population of over 89,000 within a five-mile radius, ensures consistent demand and strong rental income. The asking price is $2,600,000, representing $68,421 per unit. This property offers a rare chance to acquire a fully renovated, high-performing multifamily asset in a thriving Kentucky market. The city of Bowling Green, the third largest in Kentucky, provides a robust and growing population base.