Investment Overview

Crawford Crossing is well positioned in the market to realize a significant increase in revenue. The property’s location, vintage, condition, and attractive unit-mix provides opportunity to bridge the gap between its nearby competitors. As shown on page 33, there is a gap of $263 per month in base rent between Crawford Crossing’s in-place average rent and the property’s potential rent, or about 30 percent in rent growth potential. In addition to rent growth opportunity, current ownership has implemented various forms of other scheduled income (water/sewer/trash income, Internet bill-back income, landscaping bill-back, and washer/dryer rental) and has captured approximately 70 percent of that, leaving an additional 30 percent for further revenue growth in other income.