3811 Restwood Road, Circle Pines, MN 55014
MULTI_FAMILY - Circle Pines, MN
- Added:
- May 21, 2026
- Days on Market:
- 41
- Last Refresh:
- Jun 30 at 9:06 pm
Property Features for 3811 Restwood Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Parking Lot
- Exterior features
- Aluminum Siding
- Standard status
- Active
- APN
- 353123120015
- Size
- 3,328 SF
- Lot size
- 0.35 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8630
Utilities
- Heating system
- Oil
Building Details
- Year built
- 1984
- Building materials
- Frame
Listing agent Thomas L. Simonsen (763) 390-3017
Listing office Counselor Realty 7300 France Avenue, Suite 210, Coon Rapids, MN (952) 921-0911
Listing date May 21, 2026
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.
HighLights
- Owner‑occupied or investor building with 2 units, each with 2 bedrooms and 1 bath
- Updated siding and windows; interior updates include flooring, kitchens, and paint
- Separate hot water heaters in each unit plus a common boiler for the building
- Asphalt parking lot with lots of parking out front; driveway and parking lot parking
- Frame construction with aluminum siding; heated by oil
- Built in 1984 and located about a mile east of 35W off Lake Drive, near Lexington City Park and shopping
Overview
The property is located in Circle Pines, Minnesota, at 3811 Restwood Road. It is described as very convenient, positioned about one mile east of 35W off Lake Drive, with easy walking distance to shopping. Lexington City Park is also noted as being just a few short blocks away.
From a tenant and operator standpoint, the consistent unit layout—each with two bedrooms and a bath—supports straightforward leasing and comparable unit turnover. Updates to key interior and exterior components, along with separate hot water heaters per unit, help maintain day-to-day functionality for residents while keeping building systems organized through the common boiler.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.1k | $18.96 |
| − Vacancy | −$4.2k | −$1.27 |
| EGI | $58.9k | $17.69 |
| − OpEx | −$17.7k | −$5.31 |
| NOI | $41.2k | $12.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Circle Pines
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.170838
- Latitude
- 45.135559
