Investment Overview

Marcus and Millichap is please to present the Crawford Crossing Apartments in Louisville, KY. The offering is being considered on an open-bid basis and offered free and clear of existing debt. Crawford Crossing contains 30 units, all of which are Two-Bedroom, Two-Bathroom floor plans. Eighteen (18) units are Two Bedroom x Two Bathroom which are 900 square feet, and twelve (12) units are Two Bedroom x Two Bathroom ‘Deluxe’ which are 1,025 square feet. The property consists of three total buildings and four detached garage spaces on site. The 2011, all-brick construction presents a quality opportunity to obtain a low-maintenance community within a booming, primary midwestern market. The apartment homes feature their own private exterior entrances, washer & dryer connections, LVP flooring, vaulted ceilings on second story units. The property also includes surface parking, standalone garages available for rent, and a central gazebo with common area grilling stations available for tenant use. LOCATION Located just off Dixie HWY on Louisville’s southwest side, Crawford Crossing’s immediate location offers appealing facilities including dozens of retailers within walking distance of the property. Within a two-mile radius of the Property, average submarket vacancy is 6.3% while submarket rent growth year-over-year in Q2, 2025 is 3.4 percent and is estimated to maintain consistent rent growth of mid-three percent through 2027 (Costar.) More regionally, The Louisville MSA multifamily market continues to demonstrate resilience with positive rent growth and occupancy solidly in the mid 90% range. Although development activity surged in 2024 absorption has kept pace, helping maintain stable fundamentals. Importantly, Louisville remains an affordable rental market; moderate cost of living and comparatively lower home prices are drawing renters and investors alike, supporting long-term occupancy and demand. THE OPPORTUNTIY Offered at an attractive basis $113,000 per unit and an in-place CAP rate of 6.50 percent, Crawford Crossing can be acquired significantly below replacement cost with positive leverage day-one. Modeled to a seven-year hold period, the IRR is estimated at 17.6 percent and equity multiple is estimated at 2.7. Market average rent for Two-Bedrooms is approximately $1,185 while Crawford Crossing’s average Two-Bedroom rent is only $1,104, suggesting rental upside of approximately $171 per month.