Overview
The Ridge at Walnut Valley is a 64-unit, 2022/23-vintage multifamily community in Bowling Green, Kentucky. Featuring spacious floorplans averaging over 1,040 SF with granite countertops, stainless steel appliances, and washer/dryer connections, the property delivers modern finishes and strong resident appeal, with occupancy above 98%.
The community presents multiple upside opportunities, including washer/dryer rentals, bulk cable/internet service, and added amenities such as a playground, dog park, or grilling areas. Its location near Bowling Green’s leading retail corridors and major employment hubs—including the South Central Kentucky Industrial Park (4,500+ jobs) and Kentucky Transpark, where AESC and Tyson Foods have announced over $2.3B in new investment and 2,400+ jobs—further enhances long-term demand. With Warren County’s nearly 10% population growth since 2020 and Bowling Green’s consistent ranking as a top-performing small metro, The Ridge at Walnut Valley offers investors a modern, stabilized asset with clear avenues for income growth.
Investment Highlights
Amenities Upgrade Potential
The property offers ample open space, providing new ownership the opportunity to enhance the amenities package by adding features such as a playground, leasing office, dog park, grilling/picnic areas, or outdoor seating.
Ancillary Income Opportunities
The Ridge at Walnut Valley offers in-unit washer/dryer connections; however, tenants must currently supply their own appliances. New ownership can capitalize on this by offering rentable washer/dryer units for a monthly fee. Additionally, the property does not currently provide cable/internet services—presenting an opportunity to implement a bulk Cable/Internet package, further enhancing ancillary income and overall NOI.
Close to Major Retail
Ridge at Walnut Valley is located within 15 minutes of Bowling Green’s top retail hubs:
- Greenwood Mall (852,000 SF) – Walmart, Target, Dillard’s, Old Navy, JCPenney, Belk
- Shoppes of Gary Farms (500,000 SF) – Home Depot, Meijer, Dick’s, PetSmart, Kohl’s, Staples
Strong Population Growth
The Bowling Green MSA has grown 8.38% since 2020, reaching 195,159 residents. Warren County alone expanded by 9.94%, making it Kentucky’s fastest-growing county from 2020–2024.
Adjacent to Major Job Center
The South Central Kentucky Industrial Park, directly adjacent to the property, spans 186 acres, supports 4,500+ jobs, and is projected to generate $10B+ in regional economic impact over the next decade.
Recent Economic Investments
Multiple new investments have recently been announced in the Kentucky Transpark—one of Bowling Green’s leading employment centers—including a AESC ($2 billion; 2,000 jobs), a new Tyson Foods production facility ($355 million; 450 jobs) and a large steel coil operation ($63 million). Located just 20 minutes away, The Ridge at Walnut Valley offers residents convenient access to these major job drivers and the broader economic growth of the region.
Major Regional Employers
Bowling Green is home to several large employers:
- Houchens Industries – 5,467 jobs
- Med Center Health – 3,566 jobs / 530 beds
- Warren County Public Schools – 2,565 jobs
- Western Kentucky University – 1,854 jobs
- Dart Container – 1,600 jobs
- Logan Aluminum (Russellville HQ) – 1,345 jobs
- GM Corvette Assembly – 1,345 jobs
- Fruit of the Loom HQ – 1,310 jobs
- Bowling Green Metalforming HQ – 1,251 jobs
- Henkel Corp. Laundry Manufacturing – 930 jobs
Table Information
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