4877 Island View Drive Located on the highly sought-after "Island" of Lake Minnetonka, this rare lakefront property offers 80 feet of south-facing shoreline on picturesque Phelps Bay. The home is not quite move-in ready and presents a prime opportunity for investors, builders, or homeowners looking to bring their vision to life. Whether you're planning to renovate and resell, remodel and enjoy, or tear down and build new, this property offers endless potential. With the right updates and design, this lakeshore retreat can truly shine. It could serve as a summer getaway, long-term rental, or luxury dream home. The seller is including a full survey, site specifications, architectural renderings, and a proposed layout for a future build. A rare lakeside shed at the water’s edge is also included, providing convenience and added value. This is a blank canvas on one of Lake Minnetonka’s most desirable shorelines—offering flexibility, upside, and the chance to create something truly special.