Price shown is Base Rent. Residents are required to pay: At Application: Admin Fee ($150.00/unit); Application Fee ($50.00/applicant, nonrefundable); At Move-in: Security Deposit (Refundable) ($500.00/unit); Monthly: Pest Control ($2.00/unit); Stormwater/Drainage (usage-based); Utility-Billing Admin Fee ($5.35/unit); Trash-Hauling (varies); Natural Gas-3rd Party (usage-based); Electric-3rd Party (usage-based); Water (usage-based); Sewer (usage-based); Renters Liability Insurance-3rd Party (varies). Please visit the property website for a full list of all optional and situational fees. Floor plans are artist's rendering. All dimensions are approximate. Actual product and specifications may vary in dimension or detail. Not all features are available in every rental home. Please see a representative for details.
The leasing office is officially open at The Island
Contact us today to schedule a tour! The Island Life awaits. Retreat to modern luxury at The Island Residences at Carlson Parkway.
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.
Special offer
The Island Residences
501 Carlson Pkwy, Minnetonka, MN 55305
(1)
- Special offer! Price shown is Base Rent, does not include non-optional fees and utilities. Review Building overview for details.
Apartment building
Studio-3 beds
Pet-friendly
Covered parking
In-unit dryer
Available units
Price may not include required fees and charges
Price may not include required fees and charges.
$1,922+·Studio, 1 bath
UnitSqftBase rentAvailable
612$1,9229/26/2025
$2,004+·1 bed, 1 bath
UnitSqftBase rentAvailable
719$2,0048/16/2025
$2,020+·1 bed, 1 bath
UnitSqftBase rentAvailable
752$2,0208/23/2025
752$2,0278/30/2025
$3,078+·2 bed, 2 bath
UnitSqftBase rentAvailable
1,139$3,0789/6/2025
$3,388+·2 bed, 2 bath
UnitSqftBase rentAvailable
1,156$3,3888/16/2025
What's special
Lounge
Round up your crew
This building features a lounge. Only 14% of buildings in Minnetonka have this amenity.
Office hours
| Day | Open hours |
|---|---|
| Mon - Fri: | 10 am - 6 pm |
| Sat: | 10 am - 5 pm |
| Sun: | Closed |
Property map
Tap on any highlighted unit to view details on availability and pricing
Use ctrl + scroll to zoom the map
Facts, features & policies
Building Amenities
Community Rooms
- Business Center: Conference Room and Business Center
- Club House: Clubroom with Demonstration Kitchen
- Conference Room: Private Conference Room
- Fitness Center: Fitness and Yoga
- Lounge: Fire Pit, Grilling Lounge and Outdoor Kitchens
Other
- In Unit: In-Unit Washer and Dryer
- Sauna
- Swimming Pool: Outdoor Terrace with Lap Pool
Outdoor common areas
- Sundeck: Outdoor Terrace with Lap Pool
Security
- Controlled Access
Services & facilities
- Bicycle Storage: Bike Storage and Workshop
- Guest Suite: Guest Suite for Residents' Visitors
- On-Site Management
Unit Features
Appliances
- Dryer: In-Unit Washer and Dryer
- Range: Energy Star Stainless Gas Range
- Washer: In-Unit Washer and Dryer
Cooling
- Air Conditioning
Flooring
- Tile: Tile Flooring
Other
- *in Select Units
- Designer Roller Shades
- Environmentally Friendly
- Hard Surface Counter Tops
- Individual Climate Control
- Island Kitchen
- Large Closets
- Led & Fluorescent Lighting
- Linen Closet
- Pantry
- Vaulted Ceiling
Policies
Lease terms
- Available months 6, 9, 12
Pets
Cats
- Allowed
- 2 pet max
- $200 pet deposit
- $75 monthly pet fee
- Restrictions: We welcome 2 pets per apartment home. There is a $250 non-refundable pet deposit (which includes up to 2 pets). Monthly charge for one pet $50. Monthly charge for two pets $75. Aggressive breeds are prohibited. Please contact our leasing office for complete Pet Policy.
Dogs
- Allowed
- 2 pet max
- $200 pet deposit
- $75 monthly pet fee
- Restrictions: We welcome 2 pets per apartment home. There is a $250 non-refundable pet deposit (which includes up to 2 pets). Monthly charge for one pet $50. Monthly charge for two pets $75. Aggressive breeds are prohibited. Please contact our leasing office for complete Pet Policy.
Parking
- covered: Covered Heated Parking
- Garage: Temperature Controlled Garage
Special Features
- *restrictions Apply
- Cabanas And Spa
- Canoe, Kayak & Paddleboard Landing
- Canoe/kayak Landing
- Club Room And Entertainment Kitchen
- Communal Fire Pit
- Direct Access To I-394 And I-494
- Dog Run/dog Paths
- Natural Island Setting On The Lake
- Natural Setting
- Onsite Scenic Walking Paths
- Pet Friendly
- Pet-friendly Areas & Pet Spa*
- Poolside Outdoor Kitchen
- Proximity To Lake Minnetonka And Wayzata Bay
- Proximity To Office
- Running Trails
- Surrounded By Water
- Walking Paths Tied Into Carlson Center
- Wi-fi In Common Areas
- Wine Storage And Private Tasting Room
Reviews
5.0
5.0
| May 22, 2018
Property
Great - very nice property
Management
Very nice and friendly
Wow, we're glad you had such a wonderful experience with us! Jamie W., Community Manager
Neighborhood: 55305
Areas of interest
Use our interactive map to explore the neighborhood and see how it matches your interests.
Travel times
Nearby schools in Minnetonka
GreatSchools rating
- 7/10Birchview Elementary SchoolGrades: K-5Distance: 0.9 mi
- 7/10Wayzata Central Middle SchoolGrades: 6-8Distance: 1 mi
- 9/10Wayzata High SchoolGrades: 9-12Distance: 5.4 mi
Market Trends
Rental market summary
The average rent for all beds and all property types in Minnetonka, MN is $2,143.
Average rent
$2,143
Month-over-month
-$28
Year-over-year
+$243
Available rentals
58
Frequently asked questions
What is the walk score of The Island Residences?
The Island Residences has a walk score of 11, it's car-dependent.
What is the transit score of The Island Residences?
The Island Residences has a transit score of 24, it has minimal transit.
What schools are assigned to The Island Residences?
The schools assigned to The Island Residences include Birchview Elementary School, Wayzata Central Middle School, and Wayzata High School.
Does The Island Residences have in-unit laundry?
Yes, The Island Residences has in-unit laundry for some or all of the units.
What neighborhood is The Island Residences in?
The Island Residences is in the 55305 neighborhood in Minnetonka, MN.
What are The Island Residences's policies on pets?
A maximum of 2 cats are allowed per unit. To have a cat at The Island Residences there is a required deposit of $200. This building has monthly fee of $75 for cats. A maximum of 2 dogs are allowed per unit. To have a dog at The Island Residences there is a required deposit of $200. This building has monthly fee of $75 for dogs.
Does The Island Residences have virtual tours available?
Yes, 3D and virtual tours are available for The Island Residences.
