2005 Vintage Asset Primed for Class A Value-Add Execution: Covington Oaks offers new ownership the opportunity to implement a high-end renovation strategy across an entirely classic unit base. As a 2005-vintage asset in a proven Bowling Green rental market, the property is well positioned for elevated interior finishes, amenity enhancements, and operational improvements that can drive rent growth while maintaining strong resident demand.

Flexible Floor Plans with Broad Renter Appeal: Covington Oaks offers a wide range of one- and two-bedroom floor plans, with unit sizes spanning from 659 to 1,250 square feet. This diversified mix provides multiple price points across the rent roll, allowing the property to appeal to a broad renter base ranging from single occupants to roommates and small households. With an average unit size of 906 square feet and asking rents averaging $1,133 per month, the property is well positioned as an attainable rental option within the Bowling Green market.

Established Neighborhood Location Near High-Quality Schools, Downtown & Retail: Covington Oaks benefits from a desirable neighborhood setting within an established residential area of Bowling Green, offering residents a quieter living environment while maintaining convenient access to major amenities. The property is located just minutes from Downtown Bowling Green and within approximately 10 minutes of top-rated schools and primary retail destinations including:

• The property is zoned to schools rated 7/10 or higher by GreatSchools.org, including Bowling Green Junior High School and Bowling Green High School.

• Greenwood Mall & National Retailers: Greenwood Mall is anchored by JCPenney, Old Navy, Dillard’s, and Belk, with additional nearby national retailers including Sam’s Club, Kroger, TJ Maxx, Chick-fil-A, Best Buy, Lowe’s, and Target.

• The Shoppes at Gary Farms: A 100,000-square-foot neighborhood shopping center anchored by Dick’s Sporting Goods, PetSmart, and Bed Bath & Beyond.

Bowling Green MSA Population Growth Outpaces National Trends: Bowling Green’s multifamily market is supported by strong occupancy of 96.9% citywide and 97.6% in Warren County, both above the 94.9% national average, with average rents up 3.5%. Demand is reinforced by 16.0% population growth from 2015–2025 and 9.5% growth from 2020–2025, increasing from 180,073 to 197,180 residents and outpacing U.S. growth of 3.1%; Warren County is projected to reach 233,000 residents by 2050, with nearby average household incomes of $106,618 within one mile and $111,738 within three miles.

Western Kentucky University Impact: Covington Oaks is less than 2 miles from Western Kentucky University, one of Bowling Green’s largest and most reliable demand drivers. WKU reported enrollment of 16,300 students and 2,500 faculty and staff in the 2024-2025 academic year. This positions WKU as one of the area’s largest employers. Furthermore, an economic impact study shows the university contributes $1.6 billion annually in Kentucky and $528.4 million within Bowling Green and Warren County. This sustained economic activity creates a consistent and diversified demand base for housing, supporting long-term multifamily occupancy and rent stability.