314 W North St
- Higher-than-average rents from furnished units leased to travel nurses and corporate tenants
- Fully stabilized with a mix of midterm and long-term renters
- Supplemental income stream from modern, low-maintenance digital laundromat
- Serves a recession-resistant tenant base: university staff, healthcare workers, and insurance housing
- Minimal management overhead due to digital systems and stable tenancy
- Opportunity to optimize furnished unit pricing or expand midterm rental model
- Located in a low-vacancy submarket with limited comparable inventory
Property Description
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.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $400,000 |
| No. of Units: | 5 |
| Year Built: | 2007 |
| Lot Size: | 0.27 Acres |
| Opportunity Zone: | No |
| Price per unit: | $80,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1825 S Crawford Road
Mt Pleasant, Michigan
1825 S Crawford Road
Mt Pleasant, Michigan
1825 S Crawford Road
Mt Pleasant, MichiganBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout