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.
Listing courtesy of Christopher Cullen, Coldwell Banker Realty
