Updated Multifamily
For Sale
$595,000
3811 Restwood Road, Circle Pines, MN 55014
Residential Income, Circle Pines, MN
Property Size3,328 SF
Lot Size0.35 Acres
Price / SF$178.79
Days on Market154
Property Features for 3811 Restwood Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 8, Bedroom 5, Bedroom 7, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 4
Parking features
Driveway, Parking Lot
Subdivision
Ottes Add To Lexington
Lot features
Tree Coverage - Light
High school district
Centennial
Directions
Hwy 35 W north to Lake Drive. Exit going East about 1 mile to Restwood. This is the corner Cowboy Jack's is on. Go east one block to 3811. First 4 plex on the left.
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 Agency:
Counselor Realty
(952) 921-0911
Listed By:
Thomas L. Simonsen
(763) 390-3017
Added: May 21
Changed: Oct 16
Last Checked: Oct 21 at 9:06PM
MLS# 7077994
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.
Built in 1984, this 3,328-square-foot multifamily property sits on a 0.35-acre parcel. Exterior improvements include updated siding and windows. Inside, the apartments have refreshed kitchens, flooring, and paint; each has two bedrooms and one bathroom. Separate water heaters serve the units, while an oil-fired common boiler provides building heat. Parking is available in front on an asphalt lot.
The property is about one mile east of I-35W via Lake Drive, within walking distance of shopping and a few blocks from Lexington City Park.
The property is about one mile east of I-35W via Lake Drive, within walking distance of shopping and a few blocks from Lexington City Park.
Key Highlights
- 3,328‑square‑foot building on 0.35 acres
- Each unit has two bedrooms and one bathroom
- Updated siding and windows; unit kitchens, flooring, and paint have been refreshed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,982
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,640
$759.6K
Cap Rate 7%
$542,600
$542.6K
Cap Rate 9%
$422,022
$422.0K
Market Conditions
NOI Build-Up for 3,328 SF
Gross rent
$74.3K $22.32/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$69.1K $20.75/SF
− OpEx
−$31.1K −$9.34/SF
NOI
$38.0K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,640
Cap Rate 7%
$542,600
Cap Rate 9%
$422,022
Alternative Uses
Best Use
Apartment 5plus
$542.6K
$474.8K – $633.0K
NOI $37,982 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.4K
$808.9K – $1.08M
NOI $64,709 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 55014, MN
28,603
Population
11,163
Households
2.6
Avg Household Size
40
Median Age
36%
College-Educated
95%
High-School Grad
20.3 sq mi
ZIP Area
1,409
Density / Sq Mi
$98,952
Median Household Income
$50,744
Median Earnings
$1,553
Median Rent
$324,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Unit interiors feature refreshed kitchens, flooring, and paint, with separate water heaters serving each apartment.
Where is this multifamily property located?
The property is located at 3811 Restwood Road Circle Pines, MN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,328‑square‑foot building on 0.35 acres; Each unit has two bedrooms and one bathroom; Updated siding and windows; unit kitchens, flooring, and paint have been refreshed
