1426-1496 N Kinser Pike
Bloomington, IN 47404
Crimson Crossing · Multifamily Property For Sale · 103 Units

Lee & Associates is pleased to present for sale Crimson Crossing, a well-located student housing community in Bloomington, Indiana. Situated on approximately 5.07 acres within walking distance of Indiana University’s Bloomington campus, the property offers an exceptional opportunity to acquire a value-add asset in one of the Midwest’s most stable and recognizable university markets. Crimson Crossing consists of 219 beds across 73 townhome-style units, offering a desirable unit mix tailored to student renters. The townhome configuration provides residents with a more private, residential living experience compared to traditional garden-style apartments, which has consistently driven strong leasing performance. The community features ample off-street parking, a key amenity in the immediate submarket, and is located approximately a quarter mile from Indiana Memorial Stadium, Simon Skjodt Assembly Hall, and the primary Indiana University campus shuttle hub, providing convenient access to academic buildings, athletic facilities, and campus life. Over the past two years, current ownership has invested approximately $1 million in capital improvements, strategically enhancing both the interior
finishes and major building systems. Of the 73 total units, 21 have undergone renovations. Sixteen of these units received comprehensive, top-to-bottom upgrades, including new flooring throughout the entire unit, new kitchen cabinetry, upgraded countertops, upgraded bathroom vanities, and new, upgraded appliance packages. These renovations position the units competitively within the Bloomington student housing market and
support premium rental rates. The remaining five renovated units received partial upgrades, including new flooring on the main level, new kitchen cabinetry, upgraded
countertops, and new appliance packages. In addition to the full and partial unit renovations, ownership has completed flooring replacements in 10 additional units, replaced many of the HVAC systems to improve efficiency and reliability, and upgraded appliances in numerous other units throughout the community. These improvements meaningfully reduce near-term capital expenditure needs while providing a clear path for continued value creation through further interior upgrades on the remaining classic units. Crimson Crossing represents a compelling opportunity to acquire a proven, townhome-style student housing asset with strong in-place cash flow, significant recent capital investment, and continued upside potential in a supply-constrained location adjacent to Indiana University.