For Sale: Columbia Heights MLS# 7165627
Active
NEW!
$1,850,000
Commercial: 2 Stories
Built 1961
0.24 acres
Columbia Heights schools
MLS# 7165627
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Property Description
Two-building, 22-unit multifamily offering in Columbia Heights: 4927 and 4935 University Ave NE, with 11 units in each building and an on-site caretaker in place. The seller has completed multiple unit turnovers and renovations since mid-2025, installed a new water heater at 4935, and reset rents on several units. Monthly collections have trended up since spring 2026. Current rents run from about $900 to $1, 250 per unit, leaving room for rent growth, professional management and continued unit upgrades. Sold as-is. Buyer to verify all information, including income, expenses and insurability. Offering materials available to qualified buyers on request.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,850,000
Property Type:
Commercial
City:
Columbia Heights
Garage Spaces:
0
County:
Anoka
Year Built:
1961
State:
MN
Property Style:
2 Stories
Zip Code:
55421
Subdivision Name:
Roslyn Park
Interior
Flooring:
Carpet, Luxury Vinyl Plank
Refrigerators:
Six or More
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
4,760 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator
Parking Features:
Parking Lot
Road Frontage:
City Street
Exterior Material:
Frame
Roof Details:
Age Over 8 Years
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.24
Geolocation:
45.058186, -93.262491
Inclusions:
Building, Leases
Lot Dimensions:
160 x 130
Addl Parcels:
263024240115
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Schools
School District:
13
District Phone:
7635284500
Expenses
Annual Caretaker Expense:
$23,952
Annual Electric Expense:
$1,781
Annual Fuel Expense:
$15,180
Annual Insurance Expense:
$22,500
Annual Maintenance Expense:
$36,339
Annual Water/Sewer Expense:
$23,621
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$32,429
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$50,367
Income
Annual Gross Income:
$241,776
Rent
Annual Net Income:
$72,338
Units
Total Units:
22
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
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Listing provided by RMLS,
courtesy of Peritus Real Estate.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.