Tonkaway Apartments - Large screened porches...just off Hwy 7......garages...short walk to Lake Minnetonka Tonkaway Apartments offers spacious two-bedroom apartment homes in a quiet, well cared for community. Experience laketown living at its best in historic Excelsior, with year-round festivals and events. Explore the delightful specialty shops, antique shops, and restaurants downtown. There are beautiful lakes, parks, beaches and scenic hiking trails. And it's all within walking distance for your new home at Tonkaway Apartments.