Four-Unit Multifamily
4656 Polk Street NE, Columbia Heights, MN 55421
For Sale
$447,500
Pending
Residential Income, Columbia Heights, MN
Property Size3,021 SF
Lot Size0.14 Acres
Days on Market50
Property Features for 4656 Polk Street NE
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
on-site laundry
dedicated storage unit
Building Details
Year built
Roof type
Buildings
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Myrna L Bourcy · License #214074
(952) 829-2900
Added: Sep 21
Changed: Oct 28
Last Checked: Nov 9 at 6:06AM
MLS# 7140735
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1960 multifamily property contains four apartments within 3,021 square feet on a 0.14-acre parcel. The unit mix includes one studio and three two-bedroom units. A stucco and brick exterior, shingle roof, hot-water heating, and a driveway provide durable building features and on-site access. Each apartment has a dedicated storage unit, while updated electric panels provide separate service for the units. Laundry facilities are located on site, and the property is fully occupied.
Situated in Columbia Heights, the property is near bus lines, local shopping, restaurants, and everyday amenities. Off-street parking is available through the driveway, with additional street parking nearby. The combination of a compact four-unit layout, established occupancy, and practical resident features supports continued multifamily use.
Situated in Columbia Heights, the property is near bus lines, local shopping, restaurants, and everyday amenities. Off-street parking is available through the driveway, with additional street parking nearby. The combination of a compact four-unit layout, established occupancy, and practical resident features supports continued multifamily use.
Key Highlights
- Four‑unit property with one studio and three two‑bedroom apartments
- 3,021 square feet on a 0.14‑acre parcel
- Fully occupied with rental income in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,416
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$748,320
$748.3K
Cap Rate 7%
$534,514
$534.5K
Cap Rate 9%
$415,733
$415.7K
Market Conditions
NOI Build-Up for 3,021 SF
Gross rent
$57.3K $18.96/SF
− Vacancy
−$3.8K −$1.27/SF
EGI
$53.5K $17.69/SF
− OpEx
−$16.0K −$5.31/SF
NOI
$37.4K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$748,320
Cap Rate 7%
$534,514
Cap Rate 9%
$415,733
Alternative Uses
Best Use
Multifamily LT 5
$534.5K
$467.7K – $623.6K
NOI $37,416 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$492.6K
$431.0K – $574.7K
NOI $34,479 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$839.1K
$734.3K – $979.0K
NOI $58,740 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - One studio and three two-bedroom apartments include on-site laundry and individual storage.
Where is this quadplex located?
The property is located at 4656 Polk Street NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $447,500.
What are key features of this property?
This property features: Four‑unit property with one studio and three two‑bedroom apartments; 3,021 square feet on a 0.14‑acre parcel; Fully occupied with rental income in place
