Property Overview: 726 Berkley Street, Winnipeg
Key Characteristics & Appeal
This home presents a compelling opportunity defined by its exceptional lot and solid value. Its primary appeal lies in the nearly half-acre (21,979 sqft) property, which ranks in the top 2% of the Betsworth neighbourhood for size. This vast, private outdoor space is a rare find in the city and offers immense potential for gardening, recreation, or future expansion. The house itself is a modest, renovated one-storey bungalow with 873 sqft of living space, which is notably above average for the area. A key feature is the renovated basement, adding functional living space.
The property suits two main types of buyers: those seeking a blank-canvas lifestyle property where the land is the primary asset, and value-conscious buyers looking for a solid, updated home in a well-established neighbourhood. Its strong rankings for lot size and living area against local and city-wide comparisons highlight a property that offers more substance than its 1970s bungalow exterior might suggest. It’s ideal for someone who prioritizes private outdoor space over a large interior or a brand-new build.
Frequently Asked Questions
1. What does a "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. A buyer should inquire about the quality of the renovation, whether it includes a proper bathroom or kitchenette, and if it has legal secondary suite potential.
2. Why is the lot size so significant?
At nearly 22,000 sqft, the lot is exceptionally large for Winnipeg. This not only provides unparalleled privacy and yard space but also represents a long-term asset. It could allow for additions like a large garage, workshop, or even subdivision in the future, subject to city zoning.
3. There's no garage. How does that impact value and use?
The lack of a garage is a trade-off for the enormous lot. Buyers should factor in the cost and feasibility of adding a detached garage or carport, which the property size easily accommodates. For some, the opportunity to build a customized outbuilding is a plus.
4. The assessed value hasn't changed since the 2021 sale. What does this mean?
The stable assessment suggests the 2021 sale price was aligned with market value at that time and that major, value-adding renovations haven't occurred since. It indicates a predictable property tax outlook but underscores that any offer should be based on a current market evaluation.
5. The home's living area is above average, but it's a one-storey. How is the layout?
With 873 sqft plus a renovated basement, the home likely offers good main-floor living space for a bungalow. Prospective buyers should verify the room count and layout on the main floor to ensure it meets their needs, as the total area includes the below-grade basement space.