314 WEST NORTH ST
Turnkey 5-Unit Property + Operating Laundromat | Furnished Rental Potential Near WIU
Marketing description
Located just minutes from Western Illinois University, this stabilized multifamily asset offers a unique blend of corporate midterm tenants and long-term renters, creating a strong, diversified income stream in a low-vacancy submarket.
The property consists of five 1-bedroom, 1-bath units across two buildings. Three of the units are fully furnished and currently leased to traveling medical staff and corporate tenants on 30–90 day terms — commanding higher rents than standard long-term leases. The remaining two units are occupied by long-term tenants, providing consistent baseline cash flow.
The property also includes a digitally operated laundromat, equipped with 10 commercial washers and 10 dryers. The system is fully remote and coinless, eliminating the need for on-site collection and offering passive, low-maintenance supplemental income.
Investment highlights
- 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
- 5 Unit MF PLUS LAUNDROMAT WITH 10 MACHINES (COINLESS - 100% DIGITAL)
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