107 Minnesota Ave E - Apartments FOR SALE


Walker, MN 56484
$1,215,000 USD
218-330-2667
107 Minnesota Ave E, Walker, MN for Sale
$1,215,000 USD
Apartments - FOR SALE
1/1
null | 7% Cap Rate

107 Minnesota Ave E
Walker, MN 56484


OVERVIEW

Exceptional investment opportunity in Walker, Minnesota overlooking the shores of Leech Lake. This fully remodeled 14-unit apartment property offers immediate income potential with a cap rate over 7%, along with making it one of northern Minnesota's most desirable lake destinations. The unit mix includes one spacious 3-bedroom, 1-bath apartment, ten 1-bedroom, 1-bath apartments, and three efficiency units. All units have been recently renovated, delivering modern finishes, updated interiors, and turnkey appeal for both long-term tenants and short-term guests. Three units are currently operating as Airbnb rentals, creating diversified revenue streams and strong seasonal income potential driven by year-round tourism. The property's elevated setting provides scenic lake views and easy access to Walker's vibrant downtown, known for its local shops, dining, marina access, and recreational opportunities. Residents and guests enjoy proximity to boating, fishing, snowmobiling, and trail systems that make this region a consistent draw for visitors. Located just a short drive from Park Rapids and Nevis, the property benefits from steady regional traffic and a strong vacation rental market anchored by Leech Lake's reputation as a premier outdoor destination. The extensive remodel reduces immediate capital expenses while positioning the asset for stable cash flow and long-term appreciation. Ideal for investors seeking a turnkey, mixed-use rental strategy in a high-demand lake market, this property combines location, modernization, and income diversity in one compelling package.

FOR SALE DETAILS

PRICE

$1,215,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

14

PRICE/UNIT

$86,786

CAP RATE

7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

-

APN/PARCEL ID

96-351-0611

ASK ABOUT THIS PROPERTY

Dan JewellColdwell Banker Residential BrokerageMore Info
218-330-2667

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Dan JewellColdwell Banker Residential BrokerageMore Info
218-330-2667

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.