Property Overview
This is a compact, 522 sqft property built in 1959, located at 1-1462 Pembina Highway in Winnipeg's Crescent Park area. Its key defining characteristic is its exceptionally low price point, reflected in a most recent sale price of $11.5k and an assessed value of $11.9k. The data indicates it ranks consistently below average in its immediate area and city-wide for year built, size, and value. There is no basement, garage, or pool noted.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its ultra-low barrier to entry. It represents one of the most affordable ownership opportunities in Winnipeg, suited for a very specific buyer. Its minimal carrying costs could free up capital for other investments or living expenses.
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Who It Suits: This property is a potential fit for an extremely budget-conscious, hands-on buyer looking for a minimal footprint. It could serve as a basic shelter-first investment, a tear-down candidate for future redevelopment (subject to zoning), or a strategic purchase for land value on a high-traffic corridor like Pembina Highway. It is not suited for those seeking move-in ready comfort, space, or traditional amenities.
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Thoughtful Considerations: Beyond the price, its position directly on Pembina Highway offers high visibility and potential commercial utility, though this comes with constant traffic noise. The fact that several other units share the same address suggests a possible multi-plex or condominium structure, which requires careful investigation into ownership type, fees, and bylaws. The low assessed value also implies correspondingly low property taxes, a significant ongoing financial advantage.
Section 2: Frequently Asked Questions
1. Is this a house or a condo/unit?
The listing does not specify a building type, but the addressing format (Unit 1 at a shared street number) and lack of noted land size strongly suggest it is part of a multi-unit building, like a condominium or apartment block. This must be verified.
2. Why is the price so low?
The combination of a very small living area (522 sqft), an older building (1959), and the rankings showing it is below average in every metric for its area indicate a property in basic condition with functional or cosmetic limitations. The price reflects these factors.
3. What are the monthly fees or condo charges?
This is a critical question. If it is a condominium, there will be monthly fees covering shared expenses. The listing does not mention any, so this information must be obtained directly, as fees could significantly impact the total cost of ownership.
4. Is it livable in its current state?
Given the data, it is likely in need of updates or repairs. A professional inspection is essential to understand the condition of major systems (plumbing, electrical, roof) and what immediate investments are required to make it habitable.
5. What is the potential for this property?
Potential is highly dependent on its zoning and ownership structure. Uses could range from a bare-bones personal residence to a rental property, or it may hold long-term value for eventual redevelopment of the site. All of these paths require substantial due diligence.