Lost Lake: Lake Minnetonka Real Estate™

Lost Lake is a secluded and charming enclave within the expansive Lake Minnetonka area, located in the city of Mound, Minnesota. This hidden gem offers a tranquil lakeside living experience, making it highly appealing to homebuyers, boaters, and outdoor enthusiasts seeking a peaceful retreat with convenient access to urban amenities. The proximity to downtown Mound, with its array of shops, restaurants, and services, enhances the desirability of Lost Lake as a residential destination.  

Why Choose Lost Lake?  

Scenic beauty and lifestyle: Nestled in a no-wake channel that connects Cook's Bay to downtown Mound, Lost Lake provides a serene environment ideal for various water-based activities such as fishing, kayaking, and paddleboarding. The calm waters and lush surroundings create a picturesque setting for residents to enjoy a relaxed lakeside lifestyle.  

Prime location and accessibility: Lost Lake's strategic location offers residents easy access to major roadways and local landmarks. The Mound Harbor District, a vibrant area adjacent to Lost Lake, features amenities like the Dakota Regional Trail and a seasonal farmers market, enhancing the community's appeal. Bartlett Boulevard, a prominent thoroughfare, provides seamless connectivity to neighboring towns and essential services.  

Notable nearby bays, islands, and points: Residents of Lost Lake benefit from close proximity to other attractive locales within Lake Minnetonka, such as Cook's Bay, Harrison's Bay, and Spring Park Bay. These neighboring bays offer additional recreational opportunities and scenic vistas, enriching the overall lakeside living experience.  

Water Quality & Clarity

Lost Lake maintains good water quality, suitable for recreational activities like swimming and boating. The sheltered nature of the lake contributes to its calm and clear waters, providing an inviting environment for residents and visitors alike. Ongoing conservation efforts by local environmental groups and the community aim to preserve and enhance the lake's ecological health, ensuring its continued appeal for future generations.  

Real Estate on Lost Lake – What to Expect

Types of homes: The Lost Lake area features a variety of residential options, including modern townhomes and villas designed to maximize comfort and lake views. Notably, the Villas on Lost Lake comprise a small community of 27 units, offering residents a blend of luxury and practicality.  

Desirable property features: Properties in this area often include amenities such as private decks or patios, large windows to capture natural light, and access to communal spaces with lakeshore and deeded access to Lost Lake Bay. Additional features may include community pools, hot tubs, and cabanas with kitchen facilities, enhancing the leisure and social aspects of lakeside living.  

Real estate market trends: The demand for homes in the Lost Lake area remains steady, with properties often appealing to those seeking a low-maintenance, lake-centric lifestyle. The unique combination of modern amenities, scenic beauty, and proximity to downtown Mound contributes to the area's sustained real estate appeal.  

Schools and School District

Residents of Lost Lake are served by the Westonka Public School District, known for its commitment to academic excellence and community involvement. The district includes several highly regarded schools:  

  • Elementary Schools: Hilltop Primary School and Shirley Hills Primary School, both offering nurturing environments that foster early learning and development.
  • Middle School: Grandview Middle School, providing comprehensive education with a focus on preparing students for higher education.
  • High School: Mound Westonka High School, recognized for strong academic performance and a wide range of extracurricular activities.  


The district's dedication to educational excellence makes the area particularly attractive to families seeking quality education for their children.  

Buying or Selling on Lost Lake  

If you're considering buying or selling a property on Lost Lake, partnering with a knowledgeable local real estate expert is essential. With an in-depth understanding of the Lake Minnetonka area and a commitment to personalized service, I can guide you through every step of the process. Contact us today to explore available listings or to discuss strategies to maximize your property's value. Let's work together to make your lakeside living dreams a reality.  

Latest listings on Lost Lake:

$1,195,000
ACTIVE Status ⋅ 3 Beds ⋅ 3 Baths ⋅ 7112652 MLS ⋅ 2,439 SqFt.
Turn-key main-level living townhome in a highly sought-after Lake Minnetonka community! Designed for comfort and convenience, this open-concept home features soaring vaulted ceilings, abundant natural light, and an updated kitchen with a large center island, perfect for everyday living and entertaining. The spacious main-level primary suite offers a walk-in closet and a private spa-inspired bath complete with dual vanities, a soaking tub, and a separate walk-in shower. A dedicated main-floor laundry room adds to the ease of one-level living. Step outside to the inviting main-level patio and three-season porch with Phantom screens—an ideal space to relax, entertain, or enjoy the fresh air throughout the seasons. In-floor heat extends throughout the main level. Fully finished, heated three-car garage. Upstairs, you'll find a comfortable loft that makes an ideal second living area, along with two additional bedrooms, a full bath, an office nook, and a second three-season porch featuring Phantom screens, offering even more space to unwind. Residents enjoy exceptional association amenities, including a beautifully maintained outdoor pool and hot tub. Offering low-maintenance living in an unbeatable Lake Minnetonka location, this home truly checks every box. Move right in and start enjoying the carefree Lake Minnetonka lifestyle you've been waiting for!

5485 Lost Lake Lane, Mound

Listing courtesy of Coldwell Banker Realty.

$1,585,000
ACTIVE Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7102703 MLS ⋅ 1,842 SqFt.
Thoughtfully situated along the quiet shores of Lake Minnetonka, The Flats offer a boutique collection of modern lakefront residences designed for effortless living. Every residence at Lake Minnetonka Flats is designed for seamless indoor–outdoor living. This two bedroom plus library and 2.5 bathroom spanning 1,842 square feet of interior space is a single-level lake residence featuring the Coastal interior palette, where deep blue tones meet white oak flooring, and thoughtfully crafted modern finishes. Every detail has been carefully curated to present a seamless luxury living experience. Floor-to-ceiling windows open living spaces to the surrounding shoreline, while the covered loggia, which is expansive at 225 square feet of exterior space extends the home outdoors for year-round lakeside living. An additional front patio comprised of 600 additional exterior footage makes this unit truly unique. Each residence includes a private boat slip, heated two-car garage, large storage unit, and maintenance-free ownership along the quiet shores of Lake Minnetonka. Residences are limited to just twelve homes across three buildings. Schedule a private tour today.

2416 Commerce Boulevard Unit 102, Mound

Listing courtesy of Prudden & Company.

$2,050,000
ACTIVE Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7102701 MLS ⋅ 2,225 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2400 Commerce Boulevard Unit 201, Mound

Listing courtesy of Prudden & Company.

$1,800,000
ACTIVE Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7102698 MLS ⋅ 1,890 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2408 Commerce Boulevard Unit 202, Mound

Listing courtesy of Prudden & Company.

$1,900,000
ACTIVE Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7102689 MLS ⋅ 2,200 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2408 Commerce Boulevard Unit 101, Mound

Listing courtesy of Prudden & Company.

$829,900
ACTIVE Status ⋅ 7064657 MLS
Exceptional opportunity to acquire a well-maintained multi-tenant commercial building in the heart of Mound. This 12-unit office property offers strong in-place income with no current vacancies, making it an ideal investment for both seasoned investors and owner-operators. The property features approximately 4,800+ finished square feet across multiple levels, with a flexible layout that accommodates a variety of professional office uses. Situated on a high-visibility corridor just off Commerce Boulevard, the location provides convenient access for tenants and clients alike, with ample on-site parking and proximity to Lake Minnetonka communities. Additional upside potential exists through future rent optimization and possible leasing of storage areas in the basement.

2434 Commerce Boulevard, Mound

Listing courtesy of Compass.

$2,000,000
PENDING Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7063874 MLS ⋅ 2,200 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2400 Commerce Boulevard Unit 101, Mound

Listing courtesy of Prudden & Company.

$1,895,000
PENDING Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7042269 MLS ⋅ 2,097 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2416 Commerce Boulevard Unit A1, Mound

Listing courtesy of Prudden & Company.

$1,990,000
PENDING Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7037551 MLS ⋅ 2,225 SqFt.
Lake Minnetonka Flats is a once in a lifetime offering, where the complete privacy of a boutique residence meets lake living. A new standard of lakefront luxury, each residence features two bedrooms plus library space overlooking Lost Lake, and three bathrooms. Residents will appreciate the sense of thoughtfully designed spaces, high ceilings, and floor to ceiling windows within each floorplan ranging from 1,975 to 2,225 square feet. Expansive loggias offering sweeping views and picture framed sunsets. A dedicated boat slip on Lake Minnetonka is a standard amenity with each unit along with a private indoor garage and impressive storage unit.

2408 Commerce Boulevard Unit 201, Mound

Listing courtesy of Prudden & Company.

$1,350,000
PENDING Status ⋅ 3 Beds ⋅ 3 Baths ⋅ 7024356 MLS ⋅ 2,680 SqFt.
Luxurious Lake Minnetonka townhome! Arguably the most desirable property in the community, being one of the largest with 3 bedrooms + office, soaring 18' ceilings, three car garage, a true laundry room, lakeside paver patio, and deck with electric screen! Premier south-facing open-concept end-unit in impeccable condition and is better than new construction! Custom built, and new high end remodel top-to-bottom with no expense spared! Designer finishes with excellent attention to detail. Walls of windows fill the home with natural light! Soak in the incredible jaw-dropping views from every room! Spectacular vaulted ceilings with smooth finish. Main level living, with no stairs at entry and garage. Two living rooms and two dining rooms. Hot water heated floors across the main level. Quartz counters throughout. New kitchen features a large center island, stainless steel appliances, Thermador refrigerator, Fisher & Paykel two drawer dishwasher, gas range, tile backsplash, stone sink, and soft-close hardware. Grand primary suite has dual vanity with built-in hairdryer plug-in, Kohler mirror medicine cabinets, walk-in shower, separate soaking tub, and walk-in closet. You will enjoy having the white oak flooring, built-ins with roll-outs, wet bar, California Closets, gas fireplace, humidifier, and in-floor outlets. The garage is finished, heated, insulated, epoxied, has a floor drain, and power for an electric vehicle. Steps to the updated pool, hot tub, and cabana kitchen! Secure boat slip has water and electricity, available for up to a 26’ or 30’ boat. Beautiful curb appeal, in a convenient and in demand location. An exceptionally rare opportunity! Your maintenance-free lake life awaits, schedule your tour today!

5465 Lost Lake Lane, Mound

Listing courtesy of Keller Williams Premier Realty Lake Minnetonka.

Start Your Search

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.