314 W North St 5 Unit Apartment Building $400,000 ($80,000/Unit) Colchester, IL 62326

314 W North St presents an opportunity to acquire a five-unit multifamily property in Colchester, Illinois. Constructed in 2007, the property contains approximately 2,650 square feet on an 11,864-square-foot parcel and offers investors a modern residential asset with a relatively recent construction date compared to much of the area's housing inventory. The property's five-unit configuration provides income diversification across multiple residences while maintaining a manageable scale for ownership and operations.
Located within an established residential setting, the asset benefits from access to local community services, employment centers, schools, and everyday conveniences that support ongoing housing demand. The property's design and layout were developed for multifamily occupancy, offering residents comfortable living accommodations within a professionally maintained building. Its combination of multiple income-producing units and a single-site footprint may appeal to investors seeking stable residential rental opportunities in a smaller-market environment.
The property's 2007 construction contributes to its appeal by offering a more contemporary building profile than many older multifamily assets. Investors can benefit from a property that was purpose-built for residential use and positioned to serve local renters seeking quality housing options. With five residential units, a sizable lot, and an established location within Colchester, the property offers a compelling opportunity for investors focused on long-term ownership, cash flow potential, and residential asset growth.