The Colchester Five

Investment Overview

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.

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