14-Unit Value-Add Opportunity | 100% Occupied | Month-to-Month Upside | Columbia Heights MN
Tyler Street Apartments presents a rare opportunity to acquire a fully stabilized 14-unit multifamily asset in the heart of Columbia Heights, Minnesota.
This two-building portfolio has maintained 100% occupancy for over three consecutive years with only a single tenant turnover, which was re-leased immediately without downtime. The majority of tenants have been in place over two years and pay market-responsive rents, with the asset currently generating $182,557 in annual gross income.
The property has been operated with discipline and owner-pride: current ownership has successfully implemented rent increases across the portfolio while maintaining strong tenant relationships and a clean operating record. Operating expenses have remained consistent and predictable year-over-year, and insurance premiums have held steady for two consecutive renewal cycles.
Recent capital improvements eliminate near-term capex risk and include:
New roof on both buildings (2021)
New electrical meters on both buildings
New boilers in both buildings
The Value-Add Opportunity: With the majority of leases currently on month-to-month terms, a new owner has immediate flexibility to bring rents to market. Current average rent of $1,058 per unit sits below in-place rents achieved in comparable units, representing a straightforward path to NOI growth without major renovation or repositioning.
Financials, rent roll, and full due diligence package available upon request. Showings will be done upon a submitted offer.
Investment highlights
100% occupancy maintained for 3+ consecutive years
14 units across two fully stabilized buildings
Single turnover in ownership tenure; re-leased with zero downtime
Majority of leases on month-to-month terms, offering immediate rent growth flexibility
Clean, predictable T12 expenses with 2 years of stable insurance premiums
New roof on both buildings (2021)
New boilers in both buildings
New electrical meters on both buildings
Majority of tenants in place over 2 years with stable payment history
Long-term tenant base signals continued stability; month-to-month structure preserves new-owner flexibility
For sale by owner
$1,395,000
4628 Tyler St NE, Columbia Heights, MN 55421
16beds
9,534sqft
MultiFamily
Built in 1959
-- sqft lot
$-- Zestimate®
$146/sqft
$-- HOA
What's special
Two-building portfolio
- 20 days |
- 465 |
- 29 |
Listed by:
Property Owner (612) 643-1226
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 16
- Bathrooms: 14
- Full bathrooms: 14
Interior area
- Total interior livable area: 9,534 sqft
Property
Lot
- Size: 0.35 Acres
Details
- Parcel number: 253024330148
Construction
Type & style
- Home type: MultiFamily
Materials
- Wood
Condition
- New construction: No
- Year built: 1959
Community & HOA
Location
- Region: Columbia Heights
Financial & listing details
- Price per square foot: $146/sqft
- Tax assessed value: $1,204,500
- Annual tax amount: $22,279
- Date on market: 6/17/2026
Estimated market value
Not available
Estimated sales range
Not available
$1,460/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/17/2026 | Listed for sale | $1,395,000+71.2%$146/sqft |
Source: Owner Report a problem | ||
| 7/30/2004 | Sold | $815,000+13.2%$85/sqft |
Source: Public Record Report a problem | ||
| 8/20/2003 | Sold | $720,000+82.3%$76/sqft |
Source: Public Record Report a problem | ||
| 2/10/2000 | Sold | $395,000$41/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $22,279 +16.7% | $1,204,500 -2.7% |
| 2024 | $19,097 +30.8% | $1,237,300 +8.4% |
| 2023 | $14,602 -6.7% | $1,141,500 +17% |
| 2022 | $15,644 -7.6% | $975,600 +5.4% |
| 2021 | $16,924 +12% | $926,000 +6.2% |
| 2019 | $15,115 +16.8% | $871,700 +23.7% |
| 2018 | $12,938 +6.6% | $704,800 +10.4% |
| 2017 | $12,133 +10.8% | $638,600 +16.4% |
| 2016 | $10,950 -3.2% | $548,800 |
| 2015 | $11,309 +11.7% | $548,800 -4.7% |
| 2014 | $10,125 -22% | $575,700 |
| 2013 | $12,974 +15% | -- |
| 2012 | $11,282 +1.5% | -- |
| 2011 | $11,120 -10.5% | -- |
| 2010 | $12,423 +25.8% | -- |
| 2008 | $9,876 +2.6% | -- |
| 2007 | $9,625 -4% | -- |
| 2006 | $10,022 +12.4% | -- |
| 2005 | $8,918 +32.5% | -- |
| 2004 | $6,732 +17.1% | -- |
| 2003 | $5,751 -1.7% | -- |
| 2002 | $5,849 -5.6% | -- |
| 2001 | $6,194 | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 55421
Nearby schools
GreatSchools rating
- 3/10Highland Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 3/10Columbia AcademyGrades: 6-8Distance: 0.3 mi
- 6/10Columbia Heights Senior High SchoolGrades: 9-12Distance: 0.3 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Minnesota
- Anoka County
- Columbia Heights
- 55421
- 4628 Tyler St NE
Nearby cities
Nearby zip codes
Other Columbia Heights Topics
- Apartments for Rent in 55421
- Houses for Sale in 55421
- Houses for Rent in 55421
- 55421 Real Estate
- Columbia Heights Condos
- Houses for Sale in Columbia Heights
- Newest Listings in Columbia Heights
- Columbia Heights Home Values
- Columbia Heights Real Estate Agents
- Columbia Heights Refinance
- Columbia Heights Mortgage Rates



