For Sale: Walker MLS# 7021063
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Property Description
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
Listing Status:
Active
Contingency:
None
List Price:
$1,215,000
Property Type:
Commercial
City:
Walker
Garage Spaces:
6
County:
Cass
Year Built:
1950
State:
MN
Property Style:
1 Story
Zip Code:
56484
Subdivision Name:
Commercial Clubs 1st Add
Exterior
Stories:
One
Garage Spaces:
6
Air Conditioning:
Wall Unit(s)
Foundation Size:
5,233 ft2
Handicap Accessible:
Other
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Detached Garage
- Parking Lot
Road Frontage:
- City Street
- State Road
Roof Details:
- Age 8 Years or Less
- Asphalt
Lake & Waterfront
Waterfront View:
Lake
Waterfront:
Lake View
Lake Bottom:
- Excellent Sand
- Gravel
- Hard
Lot & Land
Acres:
1.5
Geolocation:
47.100676, -94.574705
Inclusions:
Building, Business
Lot Dimensions:
365 x 188 x 201 x 272
Zoning:
Business/Commercial
Schools
School District:
693
District Phone:
2185474201
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$3,477
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,534
Income
Annual Gross Income:
$150,058
Rent
Annual Net Income:
$86,533
Units
Total Units:
14
Miscellaneous
Current Use:
- Commercial
- Hotel/Motel
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Coldwell Banker Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.