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Oak Hills Manor

Oak Hills Manor

820 Civic Heights Dr  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 1.77
Number of Units: 48
County: Anoka

Description

Michel Commercial is pleased to present Oak Hills Manor, a 48-home active adult apartment community located in Circle Pines, Minnesota. The property offers well-maintained homes with convenient amenities including garage parking and laundry facilities on each floor. Oak Hills Manor is situated within a stable North Metro community with close proximity to retail, healthcare services, and everyday conveniences. Oak Hills presents a compelling opportunity, having recently exited its affordable housing program and allowing new leases to be set at full market rate rents and removing the requirement to cater only to residents 55 or older—driving immediate revenue upside. The property offers both stable cash flow and strong long-term appreciation potential.

Location

Located in Circle Pines within Anoka County, Oak Hills Manor benefits from a well-connected North Metro location. The property is positioned near Highway 10 and Interstate 35W, providing convenient access to Minneapolis, Saint Paul, and surrounding employment centers. Residents are just minutes from grocery stores, restaurants, pharmacies, and retail options in nearby Blaine and Lexington, while local parks and community amenities contribute to a comfortable and accessible living environment.

Highlights

Recent Exit From Affordable Housing Program With Strong Upside
The property has recently exited its affordable housing program, allowing new leases to be set at full market rental rates—creating immediate revenue growth potential. Existing residents with leases signed prior to January 1, 2026 are subjected to 60% AMI rent limits through 2028.

Strong Occupancy
Oak Hills Manor Apartments has historically maintained strong occupancy levels driven by steady demand for senior-oriented housing in the surrounding community. The property’s convenient location near healthcare services, retail amenities, and transportation corridors supports a consistent tenant base and stable rental income.

Strong Submarket Fundamentals
The North Metro submarket has moved beyond its recent wave of new deliveries, with supply moderating and vacancy declining from prior peaks. As absorption stabilizes and future development remains limited, the market is returning to balance. This improving supply-demand dynamic positions well-located assets like Oak Hills Manor to benefit from steady renter demand and long-term suburban growth.

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