Best Waterfront Condos near Lake Minnetonka — Boutique Luxury on Minnesota's Premier Lake
Lake Minnetonka is one of Minnesota's most coveted addresses — and waterfront condominium supply on and near the lake is intentionally and permanently limited. This guide covers the buildings that put buyers closest to the Lake Minnetonka lifestyle, from direct waterfront residences in Wayzata to lake-access communities in the surrounding west metro.
How This Market Works
Lake Minnetonka stretches across portions of six cities and dozens of bays — but waterfront condominium supply is extremely concentrated. The lake's development history, shoreline ordinances, and the premium that comes with any lakefront property have limited the number of true waterfront condo buildings to a very small handful. This scarcity is structural: it will not increase significantly, which means Lake Minnetonka waterfront condos function as a genuinely limited-supply luxury asset.
Wayzata Bay Residences represents the gold standard in this segment — a boutique 32-unit building in Wayzata's walkable village core with direct Lake Minnetonka frontage, lake views, and access to Wayzata's exceptional dining and boutique retail district. Wayzata School District 284 (rated 10/10) serves the area.
For buyers who want the Lake Minnetonka lifestyle but aren't positioned for Wayzata's price premium, Minnetonka Ridge Condominiums provides proximity (10-15 minutes to lake launches and restaurants) at a significantly lower price point within Minnetonka ISD 276.
The PRO Team's Lake Minnetonka expertise is a meaningful advantage in this market — we understand bay-specific value, dock rights, seasonal considerations, and the off-market relationships that are often required to access the best units before they're publicly listed.
Source: The PRO Team editorial review · Reviewed Q2 2026 · Data sources & methodology
Waterfront Condos — PRO Team Selection
2 buildings ranked and reviewed · Expert-curated by The PRO Team
Wayzata's premier newer-construction luxury condo — 61 residences at Lake Minnetonka's Promenade
Regatta at Wayzata Bay is ideal for executive buyers, empty nesters downsizing from large Lake Minnetonka properties, and buyers seeking the lock-and-leave luxury lifestyle steps from Wayzata's village amenities and the lake. The building's boutique size, quality finishes, and Promenade location make it one of the west metro's most coveted newer-construction condo addresses.
Established 192-unit Minnetonka community — Opus district location, Minnetonka schools, and accessible pricing
Opus Condominiums are well-suited for buyers seeking Minnetonka school district access at accessible price points, professionals working in the Opus/I-494 corridor who want to minimize commute, and investors targeting the reliable rental demand from west metro professionals and families.
What Buyers Ask
The questions that matter most when evaluating whether this market is right for you.
Yes — Wayzata Bay Residences is the premier true waterfront condo building with direct Lake Minnetonka frontage in Wayzata. It's a boutique 32-unit luxury building priced from $575,000 for one-bedroom residences to $2.9M+ for top-floor suites. Waterfront condo supply on Lake Minnetonka is extremely limited and will not increase significantly due to shoreline development restrictions — making these units a structural scarcity play in addition to a lifestyle investment.
The Lake Minnetonka condo market is one of the most supply-constrained in Minnesota. Boutique buildings with direct lake access are rare, turnover is infrequent, and demand from high-net-worth buyers, second-home purchasers, and downsizers from large Lake Minnetonka estates is consistently high. The PRO Team's relationships with current Lake Minnetonka condo owners give our clients early access to units before they're publicly listed — a significant advantage in this competitive segment.
Wayzata Bay Residences is served by Wayzata Independent School District 284, rated 10/10 and consistently among Minnesota's most acclaimed public school systems. Wayzata High School carries a perfect 10/10 rating. Minnetonka Ridge Condominiums is served by Minnetonka ISD 276, rated 9/10. Both districts are exceptional; the Wayzata ISD 284 rating is particularly strong for buyers for whom school quality is a primary decision driver.
Lake Minnetonka condo pricing reflects the combination of true scarcity (very limited supply that won't meaningfully increase), exceptional location (Minnesota's most prestigious lake address), top-rated school district access, village walkability (in Wayzata), and the lifestyle appeal of Lake Minnetonka year-round recreation. These factors create structural price support that has demonstrated resilience through multiple market cycles. The PRO Team can help buyers understand which specific buildings and unit types offer the best value within this premium market.
Yes — Wayzata Bay Residences is popular among second-home buyers from the Twin Cities metro and beyond. The building's boutique scale, Wayzata village location, and Lake Minnetonka access make it an appealing retreat. Before purchasing as a second home, The PRO Team will help you verify rental policy (if generating income during periods of non-use is relevant), HOA rules around owner occupancy, and practical considerations for seasonal use. Contact us for a detailed consultation.
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Lake Minnetonka, MN's Finest Condo Residences
From concierge buildings to lakefront penthouses, Lake Minnetonka, MN offers some of Minnesota's most sought-after luxury residences. The PRO Team delivers white-glove service from first showing to closing.
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