- Two best friends and roommates are terrified by the vengeful spirits dwelling in their apartment. Based on the novel published by Kobunsha and written by Nanami Kamon.
- Kim White is a young woman about to start her college education and has decided to move into a newly rented apartment with her best friend, Izzy. Kim's parents, however, are not at all supportive of this idea, owing to Izzy's past history with drugs and cases of overdose, and they warn their daughter that they would not keep any contact with her if she does actually move in. She ignores them and goes inside where she and Izzy meet Ronan, the landlord of the apartment who gives them a tour and tells them to stay out of the basement. Kim and Izzy are mesmerized by a large stained-glass window depicting medieval knights killing each other. Kim also sees a small but noticeable hole on the wall of her room and tries to cover it up by hanging a mirror over it. This does not work, as the mirror either keeps tilting or falls to the ground. Izzy finds an amulet in the hole and begins wearing it, at the same time she begins sleepwalking.
As Kim reaches college late on her orientation day but the tour guide Ian, gives her a private tour. They bond over their shared passion for journalism. Kim decides to write a paper in her course on Izzy's life but doesn't ask permission from her before doing so. One night Kim is woken up by a fluttering noise and sees a crow slither into the hole in her wall, which has now grown and somewhat resembles a decomposing wound. She had also earlier found a heavy metal music box with the names of a couple written inside it, and now, on this very night, Izzy walks into her room holding the music box in her hand, with blood spilling down from her head. Kim takes care of her and keeps her company that night, and Izzy seems to be normal again the next day. Her sleepwalking episodes continue and get even scarier when she walks down into the basement one night and Kim has to bring her back.
Kim had often seen the landlord, Ronan, watching them and behaving strangely. She finds him in their apartment one day staring at the stained glass. He reprimands them harshly for having gone down to the basement. Kim shares all this and also Izzy's sufferings with Ian, and he suggests she investigate the history of the building. Together they read up on the internet about a bank manager named Liam McNally who had murdered his pregnant wife, Karen, before killing himself in apartment 203. They realize those are the names inscribed inside the music box that Izzy had carried around during her sleepwalking. Kim meets up with Milton Briggs, the janitor who had reported the murder so many years ago, and the man reveals that the baby survived. Ian does his own research into the images present on the stained-glass mural in apartment 203, and he connects them to Celtic pagan symbols and finally to the Irish mythology figure Morrigu, who often appears in the form of a crow and symbolizes death.
Meanwhile, Izzy stumbles across Kim's paper about her and angrily confronts her before storming out. Kim rips open the hole on the wall, and a shriveled-up, nasty old hand from a dead body falls out of it. Ronan enters the apartment and abducts Kim, revealing that he is the baby that survived, and the amulet Izzy wore belonged to his mother. The curse chooses its victim through the necklace with the cursed amulet, and compels them to kill both others and themself, but Izzy had been successfully resisting, likely due to her resilience from her troubled past. Ronan has decided to take matters into his own hands out of fear that Morrigu will come after him if she does not get her offerings.
Ian meanwhile rushes to Kim's apartment where he is killed by a possessed Izzy. Kim manages to escape Ronan before finding Ian's body and following Izzy into the basement as she herself is pursued by Ronan. He manages to catch up to her but before he can kill Kim he is possessed and turns the gun on himself. Izzy shifts between her real self, who asks for Kim's help, and her possessed self, who grins and laughs scarily, and asks Kim to kill her. Kim tries to refuse, and Izzy attacks her, but just as she is about to finish her off, Kim rips off the cursed amulet from Izzy's neck. The two friends now walk up to their apartment with the intention of breaking down the stained-glass window, but are spooked by hundreds of crows flying right outside their window in an eerie manner. Kim does finally gather up the courage to shatter the window by throwing the dead-body hand that had earlier fallen out of the hole in the wall. The two quickly escape the apartment, and Izzy rushes her friend to the hospital, where she is treated for her physical wounds. Right at the end the camera moves back into the empty apartment 203 and closes in on the hole in the shattered glass window. In pitch darkness, a faint figure of Morrigu herself makes an appearance.
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