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3rd Street Portfolio

4242 3RD ST NE Columbia Heights / Minnesota

Property Details

Price:

Property Type Multifamily

Total Lot Size: .49

Number of Units: 22

County: Anoka

Description

Michel Commercial is pleased to present the 3rd Street Portfolio, a 22-home community across two properties, located in Columbia Heights, a well-established first-ring suburb just minutes form Northeast Minneapolis. 3rd Street Portfolio is a well-kept, community situated in a quiet residential area. The properties feature mostly two- and a few three-bedroom homes with functional layouts and off-street parking. 3rd Street Portfolio offers a compelling investment opportunity backed by strong occupancy and stable inplace cash flow. With durable neighborhood appeal the property is well positioned as a stable, income-producing asset with long-term upside.

Location

4233 and 4242 is located in a primarily residential area of Columbia Heights near the Minneapolis border, offering convenient access to everyday amenities. Nearby shopping includes Central Valu Center and Columbia Square, with additional retail and dining along Central Avenue. Residents enjoy proximity to parks such as Hi-View Park, Columbia Park, and North Mississippi Regional Park, as well as nearby schools including Columbia Academy and Columbia Heights Senior High School. The property also benefits from quick access to major roadways including Interstate 694 and Highway 65, providing easy connectivity to downtown Minneapolis and the greater Twin Cities.

Highlights

Strong Occupancy
3rd Street Portfolio has benefited from consistently strong occupancy, supported by a stable tenant base and limited turnover. Its residential setting near schools, parks, and local amenities makes it an appealing option for long-term renters.

Excellent Connectivity
Ideally positioned near Highway 65 and I-694, the property offers quick access to Northeast Minneapolis and major employment hubs, enhancing both convenience and leasing velocity.

Community-Oriented Environment
Set on a quiet neighborhood street, 3rd Street Portfolio offers a calm, practical living environment with off-street parking and walkable access to everyday needs—making it a solid choice for workforce renters.

Strong Submarket Fundamentals
The Coon Rapids / Fridley / Blaine submarket experienced a notable period of new deliveries in recent years, which temporarily elevated vacancy as new units were introduced to the market. As shown in the graph, vacancy increased following this supply wave before declining as the market absorbed the new inventory. With development activity slowing and only limited future supply projected, vacancy has stabilized and the submarket is returning to more balanced conditions.

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3rd Street Portfolio