Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of the Flats at 14th in Owensboro, KY. The property is located in a vibrant city known for its strong economic foundation and affordability, making it a promising investment opportunity. Situated just south of Parrish Avenue, the Flats at 14th benefits from close proximity to Owensboro’s key industries, including manufacturing, healthcare, and automotive sectors. Comprising 32 units across two buildings built in 1971-1972, the Flats at 14th offers a mix of (23) 1-bedroom 1- Bath units & (8) 2-Bedroom 1-bath, ensuring tenant appeal and occupancy stability. Recent capital improvements of over $630,000 include significant upgrades to HVAC systems, plumbing, flooring, and appliances, positioning the property for minimized maintenance costs and increased value. Owensboro’s submarket boasts a low vacancy rate of 4.4% against the national average of 7.8%, supported by steady economic and population growth. With average household incomes in the surrounding area ranging from $60,000 to $74,000, the property is poised for rent increases and strong cash flows. Offered at $2,285,000, the Flats at 14th provides an attractive entry point for investors seeking consisent returns and value-add potential.