Wayzata Bay Residence is a new, luxury multi-family rental property at 358 Central Avenue, located east of the Landing Hotel in Wayzata and just steps away from downtown restaurants and retail. The building boasts stunning views of Lake Minnetonka.

In just two weeks, IDP collaborated with the owners and other local partners to convert the former condominium building to four luxury apartments. IDP’s ability to move quickly resulted in the immediate leasing of all four apartments.

This unique luxury property filled a market need in the community where there was previously a shortage of luxury rental properties.

The building contains four 1,300 square-foot units with two bedrooms and one-and-a-half bathrooms. Each includes a south-facing deck overlooking Lake Minnetonka and two tuck-under garage spaces.

As part of the transition, the building was extensively remodeled, with a new roof, copper gutters, and upgraded cedar shake siding, improving its overall curb appeal. On the inside, IDP enhanced each of the units with upgraded flooring, new appliances, backsplashes, lighting, and interior finishes.

Through its in-depth market knowledge and the project’s unique site characteristics, this will further bolster IDP’s ownership along Lake Street in downtown Wayzata.