The Island Residences
501 Carlson Pky,
Minnetonka,
MN
55305
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Total Monthly Price
$1,648 - $3,591
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Bedrooms
Studio - 3 bd
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Bathrooms
1 - 2 ba
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Square Feet
595 - 1,457 sq ft
Highlights
- Waterfront
- Sauna
- Cabana
- Pool
- Walk-In Closets
- Deck
- Spa
- Office
- Controlled Access
Pricing & Floor Plans
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Unit 303price $1,723square feet 612availibility Now
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Unit 132price $1,693square feet 595availibility Apr 8
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Unit 232price $1,648square feet 595availibility Apr 28
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Unit 116price $2,054square feet 719availibility Mar 21
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Unit 316price $2,019square feet 719availibility Apr 22
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Unit 335price $3,135square feet 1,156availibility Now
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Unit 135price $3,161square feet 1,156availibility Apr 18
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Unit 320price $2,936square feet 1,145availibility Apr 4
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Unit 429price $2,891square feet 1,124availibility May 18
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Unit 107price $3,526square feet 1,457availibility Now
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Unit 508price $3,591square feet 1,457availibility Now
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Unit 308price $3,526square feet 1,457availibility May 9
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Unit 303price $1,723square feet 612availibility Now
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Unit 132price $1,693square feet 595availibility Apr 8
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Unit 232price $1,648square feet 595availibility Apr 28
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Unit 116price $2,054square feet 719availibility Mar 21
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Unit 316price $2,019square feet 719availibility Apr 22
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Unit 335price $3,135square feet 1,156availibility Now
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Unit 135price $3,161square feet 1,156availibility Apr 18
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Unit 320price $2,936square feet 1,145availibility Apr 4
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Unit 429price $2,891square feet 1,124availibility May 18
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Unit 107price $3,526square feet 1,457availibility Now
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Unit 508price $3,591square feet 1,457availibility Now
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Unit 308price $3,526square feet 1,457availibility May 9
Fees and Policies
The fees listed below are community-provided and may exclude utilities or add-ons. All payments are made directly to the property and are non-refundable unless otherwise specified. Use the Cost Calculator to determine costs based on your needs.
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Utilities & Essentials
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Utility - Billing Administrative FeeAmount to manage utility services billing. Charged per unit.$5.56 / mo
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Utility - WaterUsage-Based (Utilities).Amount for provision and consumption of water Charged per unit.Varies / moDisclaimer: 49 Utility apportionment is allocation: number of occupants in unit.Read More Read Less
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Utility - Natural Gas - Third PartyUsage-Based (Utilities).Amount for provision and consumption of natural gas paid to a third party. Charged per unit. Payable to 3rd PartyVaries / mo
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Utility - Electric - Third PartyUsage-Based (Utilities).Amount for provision and consumption of electric paid to a third party. Charged per unit. Payable to 3rd PartyVaries / mo
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One-Time Basics
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Due at Application
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Administrative FeeAmount to facilitate move-in process for a resident. Charged per unit.$150
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Application FeeAmount to process application, initiate screening, and take a rental home off the market. Charged per applicant.$50
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Due at Move-In
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Security Deposit (Refundable)Amount intended to be held through residency that may be applied toward amounts owed at move-out. Refunds processed per application and lease terms. Charged per unit.$500
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Due at Application
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Dogs
Max of 2Restrictions:
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Cats
Max of 2Restrictions:
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Pet Fees
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Pet FeeMax of 1. Amount to facilitate authorized pet move-in. Charged per unit.$250
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Covered
Comments
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Electric Vehicle Parking
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Parking FeeMax of 1. Amount for electric vehicle space; reserved or pay-per-use station. May be subject to availability. Charged per rentable item.$150 / mo
Comments -
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Storage Unit
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Storage FeeMax of 1. Amount for usage of optional storage space. May be subject to availability. Charged per rentable item.$130 / mo
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Access/Lock Change FeeAmount to change or reprogram access to rental home. Charged per unit.$100 / occurrence
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Renters Liability Only - Non-ComplianceAmount for not maintaining required Renters Liability Policy. Charged per unit.$15 / occurrence
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Returned Payment Fee (NSF)Amount for returned payment. Charged per unit.$30 / occurrence
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Intra-Community Transfer FeeAmount due when transferring to another rental unit within community. Charged per unit.$500 / occurrence
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Lease Buy OutAmount agreed upon by resident to terminate lease early and satisfy lease terms; additional conditions apply. Charged per unit.200% of base rent / occurrence
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Access Device - ReplacementAmount to obtain a replacement access device for community; fobs, keys, remotes, access passes. Charged per device.$100 / occurrence
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Utility - Vacant Processing FeeAmount for failing to transfer utilities into resident name. Charged per unit.$17.42 / occurrence
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Access Fee - After HoursAmount for access to rental home after business hours. Charged per unit.$50 / occurrence
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Insufficient Move-Out Notice FeeAmount for not providing notice to move-out as required by lease. Charged per unit.100% of base rent / occurrence
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Late FeeAmount for paying after rent due date; per terms of lease. Charged per unit.7.99% of base rent / occurrence
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Utility - Vacant Cost RecoveryUsage-Based (Utilities).Amount for utility usage not transferred to resident responsibility any time during occupancy. Charged per unit.Varies / occurrence
Property Fee Disclaimer: Total Monthly Leasing Price includes base rent, all monthly mandatory and any user-selected optional fees. Excludes variable/usage-based utilities and services, deposits, and required one-time fees due at or prior to move-in or at move-out. The total price varies on selected options, third-party rates, and other variable factors, including usage-based rates. Security Deposit may change based on screening results, but total will not exceed legal maximums. Some items may be taxed under applicable law. Some fees may not apply to rental homes subject to an affordable program. All fees are subject to application and/or lease terms, which may be requested prior to applying. Prices and availability subject to change. Resident is responsible for damages beyond ordinary wear and tear. Resident may need to maintain insurance and to activate and maintain utility services, including but not limited to electricity, water, gas, and internet, per the lease. Utilities included in rent: None. Pets: Pet breed and other pet restrictions apply. Rentable Items: All Parking, storage, and other rentable items are subject to availability. Final pricing and availability will be determined during lease agreement. See Leasing Agent for details.
Details
Lease Options
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6 - 12 Month Leases
Property Information
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Built in 2015
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174 units/5 stories
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LEED certified Silver
Matterport 3D Tours
Select a unit to view pricing & availability
About The Island Residences
Retreat to The Island Residences at Carlson Center, a stunning, 5 story Class A apartment community in Minnetonka. We are uniquely nestled within a secluded and serene natural oasis of lush greenery bounded by water on all sides. In our well-appointed alcove and one to three bedroom apartment homes, our residents and guests will enjoy the trails and trees surrounding the property, heated underground parking, and the surrounding lake views. . We offer first-class amenities including a clubroom, an onsite guest suite, coffee lounge with WiFi, sauna and spa, and a fitness center that will include world-class strength training and cardiovascular equipment with individual televisions, a stretching area, and free weights. The community will also provide direct access to outdoor amenities, including waterfront views, a pool deck featuring an outdoor grilling lounge and kitchen, fire pit and an exquisite lap pool.
The Island Residences is an apartment community located in Hennepin County and the 55305 ZIP Code. This area is served by the Wayzata Public School District attendance zone.
Unique Features
- *In Select Units
- *Restrictions apply
- Bike Storage and Workshop
- Cabanas and Spa
- Canoe, Kayak & Paddleboard Landing
- Canoe/Kayak Landing
- Club Room and Entertainment Kitchen
- Communal Fire Pit
- Conference Room and Business Center
- Designer Roller Shades
- Direct Access to I-394 and I-494
- Dog Run/Dog Paths
- Energy Star Stainless Gas Range
- Energy Star® Stainless Gas Range
- Environmentally Friendly
- Fire Pit, Grilling Lounge and Outdoor Kitchens
- In-Unit Washer and Dryer
- LED & Fluorescent Lighting
- Natural Island Setting on the Lake
- Natural Setting
- Onsite Scenic Walking Paths
- Outdoor Terrace with Lap Pool
- Pet Friendly
- Pet-Friendly Areas & Pet Spa*
- Poolside Outdoor Kitchen
- Proximity to Lake Minnetonka and Wayzata Bay
- Proximity to Office
- Running Trails
- Secured Bicycle Storage
- Surrounded by Water
- Walking Paths Tied into Carlson Center
- Wi-Fi in Common Areas
- Wine Storage and Private Tasting Room
Community Amenities
Pool
Fitness Center
Laundry Facilities
Elevator
Clubhouse
Controlled Access
Recycling
Business Center
Property Services
- Package Service
- Laundry Facilities
- Controlled Access
- Maintenance on site
- Property Manager on Site
- Recycling
Shared Community
- Elevator
- Business Center
- Clubhouse
- Lounge
- Conference Rooms
Fitness & Recreation
- Fitness Center
- Sauna
- Spa
- Pool
- Bicycle Storage
- Walking/Biking Trails
Outdoor Features
- Sundeck
- Cabana
- Grill
- Waterfront
- Dog Park
Apartment Features
Air Conditioning
High Speed Internet Access
Walk-In Closets
Refrigerator
- High Speed Internet Access
- Wi-Fi
- Air Conditioning
- Heating
- Tub/Shower
- Wheelchair Accessible (Rooms)
- Kitchen
- Oven
- Range
- Refrigerator
- Office
- Workshop
- Walk-In Closets
- Deck
Head out of Minneapolis on Interstate 394 towards the far west suburbs and feel your shoulders begin to relax as you reach a lush community boasting leisure days on the lake and tree-lined streets. West Minnetonka offers beauty and recreation in every season. Sailboats and water-skiers greet you in the summer, gorgeous fall colors reflect off the lake in autumn, frosted trees announce winter, and spring rolls in with green buds and sparkling blue water.
West Minnetonka follows along the eastern shores of Lake Minnetonka, which has over 125 miles of shoreline ideal for hiking, relaxing, and water sports. Woodlands, parks, beaches, and trails delight nature lovers and exercise fanatics. Life here is slow paced and lake-centric, whether you have lakefront property or have to travel a few miles to get there. Most residents commute to Minneapolis for work, but many businesses thrive right in the suburbs with no commute necessary.
Learn more about living in West MinnetonkaCompare neighborhood and city base rent averages by bedroom.
| West Minnetonka | Minnetonka, MN | |
|---|---|---|
| Studio | $1,359 | $1,369 |
| 1 Bedroom | $1,558 | $1,655 |
| 2 Bedrooms | $1,952 | $1,994 |
| 3 Bedrooms | $2,408 | $2,416 |
- Package Service
- Laundry Facilities
- Controlled Access
- Maintenance on site
- Property Manager on Site
- Recycling
- Elevator
- Business Center
- Clubhouse
- Lounge
- Conference Rooms
- Sundeck
- Cabana
- Grill
- Waterfront
- Dog Park
- Fitness Center
- Sauna
- Spa
- Pool
- Bicycle Storage
- Walking/Biking Trails
- *In Select Units
- *Restrictions apply
- Bike Storage and Workshop
- Cabanas and Spa
- Canoe, Kayak & Paddleboard Landing
- Canoe/Kayak Landing
- Club Room and Entertainment Kitchen
- Communal Fire Pit
- Conference Room and Business Center
- Designer Roller Shades
- Direct Access to I-394 and I-494
- Dog Run/Dog Paths
- Energy Star Stainless Gas Range
- Energy Star® Stainless Gas Range
- Environmentally Friendly
- Fire Pit, Grilling Lounge and Outdoor Kitchens
- In-Unit Washer and Dryer
- LED & Fluorescent Lighting
- Natural Island Setting on the Lake
- Natural Setting
- Onsite Scenic Walking Paths
- Outdoor Terrace with Lap Pool
- Pet Friendly
- Pet-Friendly Areas & Pet Spa*
- Poolside Outdoor Kitchen
- Proximity to Lake Minnetonka and Wayzata Bay
- Proximity to Office
- Running Trails
- Secured Bicycle Storage
- Surrounded by Water
- Walking Paths Tied into Carlson Center
- Wi-Fi in Common Areas
- Wine Storage and Private Tasting Room
- High Speed Internet Access
- Wi-Fi
- Air Conditioning
- Heating
- Tub/Shower
- Wheelchair Accessible (Rooms)
- Kitchen
- Oven
- Range
- Refrigerator
- Office
- Workshop
- Walk-In Closets
- Deck
| Monday | 10am - 6pm |
|---|---|
| Tuesday | 10am - 6pm |
| Wednesday | 10am - 6pm |
| Thursday | 10am - 6pm |
| Friday | 10am - 6pm |
| Saturday | 10am - 5pm |
| Sunday | Closed |
| Colleges & Universities | Distance | ||
|---|---|---|---|
| Colleges & Universities | Distance | ||
| Drive: | 16 min | 10.0 mi | |
| Drive: | 16 min | 10.5 mi | |
| Drive: | 19 min | 11.3 mi | |
| Drive: | 21 min | 14.1 mi |
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by GreatSchools.org © 2026. All rights reserved.
Transportation options available in Minnetonka include Target Field Station, located 10.8 miles from The Island Residences. The Island Residences is near Minneapolis-St Paul International/Wold-Chamberlain, located 20.4 miles or 30 minutes away.
| Transit / Subway | Distance | ||
|---|---|---|---|
| Transit / Subway | Distance | ||
|
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Drive: | 16 min | 10.8 mi |
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Drive: | 17 min | 10.8 mi |
| Drive: | 17 min | 10.9 mi | |
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Drive: | 17 min | 11.0 mi |
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Drive: | 18 min | 11.4 mi |
| Commuter Rail | Distance | ||
|---|---|---|---|
| Commuter Rail | Distance | ||
|
|
Drive: | 17 min | 11.0 mi |
|
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Drive: | 25 min | 18.1 mi |
|
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Drive: | 31 min | 20.6 mi |
|
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Drive: | 34 min | 22.3 mi |
| Drive: | 35 min | 24.1 mi |
| Airports | Distance | ||
|---|---|---|---|
| Airports | Distance | ||
|
Minneapolis-St Paul International/Wold-Chamberlain
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Drive: | 30 min | 20.4 mi |
Time and distance from The Island Residences.
| Shopping Centers | Distance | ||
|---|---|---|---|
| Shopping Centers | Distance | ||
| Walk: | 16 min | 0.8 mi | |
| Drive: | 4 min | 1.2 mi | |
| Drive: | 3 min | 1.4 mi |
| Parks and Recreation | Distance | ||
|---|---|---|---|
| Parks and Recreation | Distance | ||
|
Parkers Lake Park
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Drive: | 6 min | 1.9 mi |
|
West Medicine Lake Park
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Drive: | 9 min | 4.2 mi |
|
Plymouth Creek Park
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Drive: | 9 min | 4.2 mi |
|
East Medicine Lake Park
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Drive: | 10 min | 5.3 mi |
|
French Regional Park
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Drive: | 13 min | 5.7 mi |
| Hospitals | Distance | ||
|---|---|---|---|
| Hospitals | Distance | ||
| Drive: | 16 min | 9.2 mi | |
| Drive: | 19 min | 11.6 mi | |
| Drive: | 20 min | 11.9 mi |
| Military Bases | Distance | ||
|---|---|---|---|
| Military Bases | Distance | ||
| Drive: | 29 min | 19.7 mi |
The Island Residences Photos
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The Island Residences
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Living
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Models
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Studio
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The Island Residences at Carlson Center - Crystal - 1 Beds - 1 Baths - 595 Sq. ft.
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Studio
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The Island Residences at Carlson Center - Cooks - 1 Beds - 1 Baths - 612 Sq. ft.
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1 Bedroom
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Dutch
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While The Island Residences does not provide in‑unit laundry, on‑site laundry facilities are available for shared resident use.
Utilities are not included in rent. Residents should plan to set up and pay for all services separately.
Parking is available at The Island Residences. Fees may apply depending on the type of parking offered. Contact this property for details.
The Island Residences has studios to three-bedrooms with rent ranges from $1,648/mo. to $3,591/mo.
Yes, The Island Residences welcomes pets. Breed restrictions, weight limits, and additional fees may apply. View this property's pet policy.
A good rule of thumb is to spend no more than 30% of your gross income on rent. Based on the lowest available rent of $1,648 for a studio, you would need to earn about $65,902 per year to qualify. Want to double-check your budget? Calculate how much rent you can afford with our Rent Affordability Calculator.
The Island Residences is offering Discounts for eligible applicants, with rental rates starting at $1,648.
Yes! The Island Residences offers 6 Matterport 3D Tours. Explore different floor plans and see unit level details, all without leaving home.
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
What is a Sound Score Rating?
A Sound Score Rating aggregates noise caused by vehicle traffic, airplane traffic and local sources.
501 Carlson Pky
Minnetonka, MN 55305