The Colchester Five

314 W North St is a stabilized 5-unit multifamily property with multiple income streams and future development upside, located just minutes from Macomb and Western Illinois University. The property includes five 1-bedroom, 1-bath units, each with separately metered water and electricity, allowing for efficient utility management and reduced ownership expenses. Three of the units are fully furnished with stainless steel appliances and currently leased through Airbnb, VRBO, and Furnished Finder to traveling professionals, generating elevated monthly income. The remaining two units are leased to long-term tenants. The property also features a public-facing laundromat equipped with 5 commercial washers and 5 dryers, offering an additional passive income stream. This amenity serves both tenants and local residents, with no coin collection required if operated digitally. Importantly, the lot offers space for the development of additional units, with utilities already connected and in place — providing investors a rare opportunity to expand rental income without major infrastructure costs. With consistent occupancy, flexible income sources, and value-add potential through expansion, 314 W North St offers a compelling investment in a recession-resistant rental market.Fully leased 5-unit multifamily property with additional income from an on-site digital laundromat, located just minutes from Western Illinois University and downtown Macomb. The unit mix consists of five 1-bedroom, 1-bath apartments, three of which are currently operated as fully furnished midterm rentals catering to corporate and medical tenants. The property features separately metered water and electricity, reducing owner expenses, and a coinless laundromat system with 10 washers and 10 dryers that generates passive income with minimal oversight. Professionally managed, well-maintained, and positioned in a high-demand rental corridor, this asset offers strong in-place cash flow with additional upside through continued furnished leasing.