540 Rice Street E, Wayzata, MN 55391

$2,650,000
Property Type: Residential Bedrooms: 3 Baths: 4 Square Footage: 3,601 Lot Size (sq. ft.): 2,178 Status: Active
Current Price: $2,650,000 List Date: 1/30/2026 Last Modified: 1/30/2026

Overview

Description

Luxury Brownstone in the heart of Wayzata. Inside, the incredible finishes and materials set a tone of luxury that carries throughout every room. Custom woodwork, designer carpeting, and rich, full-slab onyx marble finishes define the interiors. The kitchen is a showpiece, featuring a dramatic backlit onyx worktop, while the powder room stuns with illuminated onyx walls. Every bathroom is fully clad in stone, with the upstairs bath offering underfloor heating for added comfort. A solid brass staircase railing with tailored runners and stair rods serves as a striking focal point on the open-concept main level. Backlit tray ceilings above the piano in the main lounge add architectural drama, complementing the multiple fireplaces and elegant design. Offering uninterrupted, year-round views of Lake Minnetonka from the rooftop, this home is a rare offering in both design and location. The expansive primary suite includes a gas fireplace, spa-style walk-through bath with soaking tub, and dual walk-in closets. A flexible lower level functions perfectly as a media room or guest suite, and a rooftop deck delivers sweeping lake views—ideal for entertaining or private relaxation. Additional features include a three-story elevator, radiant in-floor heating, and easy walkability to Wayzata’s acclaimed lakefront, dining, and shopping destinations.

Listing Details MLS# 6697633

General Property Information

Assoc Mgmt Co. Phone #
952-210-3383
Association Fee Frequency
Monthly
Association Mgmt Co. Name
Ellian Management
Common Wall
Yes
Lot Measurement
Acres
Manufactured Home?
No
Multiple PIDs?
No
New Development
No
Number of Fireplaces
2
Waterfront Present
No
Year Built
2006
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Bath Full
Yes
Bath Three Quarters
2
Bath Half
Yes
Main Floor Total SqFt
1408
Above Grd Total SqFt
2933
Below Grd Total SqFt
668
Total SqFt
3601
Total Finished Sqft
3601.00
FireplaceYN
Yes
Style
(TH) Side x Side
Foundation Size
1408
Association Fee
800
Garage Stalls
2
Lot Dimensions
58x35
Acres
0.05
Bath Quarter
0

Property Features

Accessible: Accessible Elevator Installed Air Conditioning: Central Air Amenities Unit: Balcony; Deck; French Doors; Hardwood Floors; Kitchen Center Island; Kitchen Window; Natural Woodwork; Paneled Doors; Primary Bedroom Walk-In Closet; Security System; Walk-In Closet; Washer/Dryer Hookup; Wet Bar Appliances: Cooktop; Dishwasher; Dryer; Microwave; Refrigerator; Washer Association Fee Includes: Building Exterior; Hazard Insurance; Lawn Care; Outside Maintenance; Parking Space; Snow Removal; Other Assumable Loan: Not Assumable Basement: Partial; Partially Finished Bath Description: Primary Walk-Thru; Main Floor 1/2 Bath; Upper Level 3/4 Bath; Private Primary; 3/4 Basement; Bathroom Ensuite; Separate Tub & Shower; Walk-In Shower Stall Construction Status: Previously Owned Dining Room Description: Eat In Kitchen; Informal Dining Room; Kitchen/Dining Room; Living/Dining Room Existing Financing: Conventional Exterior: Brick/Stone Family Room Characteristics: Lower Level Fencing: Partial Fireplace Characteristics: Gas Burning; Living Room; Primary Bedroom Foundation: Other Fuel: Natural Gas Heating: Forced Air; In-Floor Heating Laundry: Laundry Room; Sink; Upper Level Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Medium; Zero Lot Line Parking Characteristics: Heated Garage; Insulated Garage; Tuckunder Garage Road Frontage: City Street; Curbs; Paved Streets; Sidewalks Road Responsibility: Public Maintained Road Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Special Search: 2nd Floor Laundry; Primary Bdr Suite Stories: Two Townhouse Characteristics: End Unit Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
3100000
ListPrice
2650000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
540
Street Name
Rice
Street Suffix
Street
Street Direction Suffix
E
Postal City
Wayzata
County
Hennepin
State
MN
Zip Code
55391
Complex/Dev/Subdivision
Rice Street Brownstones Add

Assessments

Tax With Assessments
23107
Assessment Balance
0

Building Information

Finished SqFt Above Ground
2933
Finished SqFt Below Ground
668

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Square Feet
740
Heated Garage
Yes
Insulated Garage
Yes
Tuckunder Garage
Yes

Public Survey Info

Range#
22
Section#
06
Township#
117

Office/Member Info

Association
MAAR

Location, Tax and Other Information

AssocFeeYN
Yes
Legal Description
LOT 002 BLOCK 001 RICE STREET BROWNSTONES ADDN
Listing City
Wayzata
Map Page
104
Municipality
Wayzata
School District
Wayzata
School District Phone
763-745-5000
Zip Plus 4
860
Property ID Number
0611722240097
Tax Year
2025
Tax Amount
23107
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Luxury Brownstone in the heart of Wayzata. Inside, the incredible finishes and materials set a tone of luxury that carries throughout every room. Custom woodwork, designer carpeting, and rich, full-slab onyx marble finishes define the interiors. The kitchen is a showpiece, featuring a dramatic backlit onyx worktop, while the powder room stuns with illuminated onyx walls. Every bathroom is fully clad in stone, with the upstairs bath offering underfloor heating for added comfort. A solid brass staircase railing with tailored runners and stair rods serves as a striking focal point on the open-concept main level. Backlit tray ceilings above the piano in the main lounge add architectural drama, complementing the multiple fireplaces and elegant design. Offering uninterrupted, year-round views of Lake Minnetonka from the rooftop, this home is a rare offering in both design and location. The expansive primary suite includes a gas fireplace, spa-style walk-through bath with soaking tub, and dual walk-in closets. A flexible lower level functions perfectly as a media room or guest suite, and a rooftop deck delivers sweeping lake views—ideal for entertaining or private relaxation. Additional features include a three-story elevator, radiant in-floor heating, and easy walkability to Wayzata’s acclaimed lakefront, dining, and shopping destinations.
Directions
West on Wayzata Boulevard E to South on Minnetonka Avenue S. East on Rice Street E. Home is on the right.

Accessible

Accessible Elevator Installed
Yes

Air Conditioning

Central Air
Yes

Amenities Unit

Balcony
Yes
Deck
Yes
French Doors
Yes
Hardwood Floors
Yes
Kitchen Center Island
Yes
Kitchen Window
Yes
Natural Woodwork
Yes
Paneled Doors
Yes
Primary Bedroom Walk-In Closet
Yes
Security System
Yes
Walk-In Closet
Yes
Washer/Dryer Hookup
Yes
Wet Bar
Yes

Appliances

Cooktop
Yes
Dishwasher
Yes
Dryer
Yes
Microwave
Yes
Refrigerator
Yes
Washer
Yes

Association Fee Includes

Building Exterior
Yes
Hazard Insurance
Yes
Lawn Care
Yes
Outside Maintenance
Yes
Parking Space
Yes
Snow Removal
Yes
Other
Yes

Assumable Loan

Not Assumable
Yes

Basement

Partial
Yes
Partially Finished
Yes

Bath Description

Primary Walk-Thru
Yes
Main Floor 1/2 Bath
Yes
Upper Level 3/4 Bath
Yes
Private Primary
Yes
3/4 Basement
Yes
Bathroom Ensuite
Yes
Separate Tub & Shower
Yes
Walk-In Shower Stall
Yes

Construction Status

Previously Owned
Yes

Dining Room Description

Eat In Kitchen
Yes
Informal Dining Room
Yes
Kitchen/Dining Room
Yes
Living/Dining Room
Yes

Existing Financing

Conventional
Yes

Exterior

Brick/Stone
Yes

Family Room Characteristics

Lower Level
Yes

Fencing

Partial
Yes

Fireplace Characteristics

Gas Burning
Yes
Living Room
Yes
Primary Bedroom
Yes

Foundation

Other
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes
In-Floor Heating
Yes

Insurance Fee

Insurance Fee
0

Laundry

Laundry Room
Yes
Sink
Yes
Upper Level
Yes

Lot Description

Public Transit (w/in 6 blks)
Yes
Tree Coverage - Medium
Yes
Zero Lot Line
Yes

Patio, Porch and Deck Features

Deck
Yes

Restriction/Covenants

Other Covenants
Yes

Road Frontage

City Street
Yes
Curbs
Yes
Paved Streets
Yes
Sidewalks
Yes

Road Responsibility

Public Maintained Road
Yes

Sellers Terms

Cash
Yes
Conventional
Yes

Sewer

City Sewer/Connected
Yes

Special Search

2nd Floor Laundry
Yes
Primary Bdr Suite
Yes

Stories

Two
Yes

Townhouse Characteristics

End Unit
Yes

Water

City Water/Connected
Yes

Room Information

Laundry Level: Upper Third (3rd) Bedroom Dimensions: 24x13 Level: Lower Office Dimensions: 15x13 Level: Upper Living Room Dimensions: 33x19 Level: Main Deck Level: Third Dining Room Dimensions: 15x13 Level: Main Kitchen Dimensions: 15x13 Level: Main First (1st) Bedroom Dimensions: 19x19 Level: Upper Second (2nd) Bedroom Dimensions: 12x10 Level: Upper
Listing Office: Coldwell Banker Realty
IDX
Last Updated: January - 30 - 2026
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