Overview
Walnut Valley is an 84 unit, 2019–2020 vintage build to rent community located in Bowling Green, Kentucky, offering residents a true neighborhood style living experience with attached garages and private backyards at every home. The property features spacious two and three bedroom floor plans averaging 1,160 square feet and maintains strong occupancy near 98% with average asking rents around $1,336 per month. The modern construction and large layouts position the asset to capture sustained demand from renters seeking privacy and space without the cost of homeownership.
New ownership benefits from immediate cash flow with strong upside through ancillary income opportunities including washer dryer installation, bulk cable internet programs, and utility reimbursements. Walnut Valley is located near Bowling Green’s primary retail corridors, major employers, and the South Central Kentucky Industrial Park, a major economic driver supporting thousands of jobs within one of Kentucky’s fastest growing counties. The combination of durable build to rent product, strong demographics, and multiple revenue enhancement avenues creates a compelling long term investment opportunity in a high growth regional market.
Investment Highlights
BTR Product - Attached Garages & Private Backyards
Walnut Valley offers a true build-to-rent experience, with attached garages and private backyardsfor every unit. This setup provides the privacy and convenience of a single-family neighborhood with the feel of residential living.
Large Floor Plans
Walnut Valley features expansive 2- and 3-bedroom floor plans, with units averaging 1,100 SF and 1,350 SF, respectively. These oversized layouts offer enhanced livability and cater to renter demand for larger, more comfortable living spaces.
Washer/Dryer Installation Upside
Walnut Valley is equipped with in-unit washer/dryer connections, allowing new ownership to easily add appliances and introduce a monthly appliance fee. This value-add opportunity enhances resident convenience while creating a new stream of ancillary income to support NOI growth.
Cable/Internet Income Opportunity
Current ownership has an existing cable/internet revenue share agreement in place. An investor can capitalize on the possibility of renegotiating to a bulk cable/internet package to capture additional revenue.
Proximity to Retail
Walnut Valley lies within 20-minutes of Bowling Green’s best
retail, including:
• Greenwood Mall: 852,000 SF, Tenants include: Walmart, Lowes, Target, JCPenney,
Belk, Old Navy, Dillard’s, Men’s Warehouse, etc.
• Shoppes of Gary Farms: 500,000 SF, Tenants include: Dick’s, PetSmart, Home Depot,
Meijer, Kohl’s, Staples
Robust Population Growth
The Bowling Green Metropolitan Statistical Area (MSA) has experienced a 8.38% population increase from 2020 to 2024, reaching 195,159 total residents. Notably, Warren County, which includes Bowling Green, grew 9.94% during this period, making it the fastest-growing county in Kentucky.
UNIT BREAKDOWN
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