Property Overview & Key Characteristics
This is a compact, 532 sqft condo unit in a 1959-built building on Pembina Highway in the Crescent Park area. Its primary appeal lies in its exceptionally low financial barrier to entry, reflected in its assessed value of $12,90k. The data shows it ranks in the bottom tier for size, value, and age compared to most properties in the city, on its street, and in the immediate neighbourhood. This isn't a property for those seeking space or modern finishes; instead, it represents a pure, no-frills entry point into the Winnipeg market. It would suit a very budget-conscious first-time buyer, an investor looking for a low-cost rental unit, or someone seeking minimal housing expenses above all else. A thoughtful perspective is that such a unit offers the chance to build equity with a very small initial investment, and its location on a major transit corridor provides practical connectivity despite the older building.
Frequently Asked Questions
1. What are the monthly condo fees, and what do they cover?
This is the most critical question for a unit at this price point. The fees significantly impact the total monthly cost and value proposition. The listing data does not include this information; it must be obtained directly from the property listing or condo corporation.
2. What is the current condition of the unit and the building?
Given the building's age (1959), potential buyers should prioritize understanding the state of major building systems (roof, plumbing, windows) and the unit itself. Recent special assessments or planned renovations to the common elements would be essential to know.
3. How does the assessed value relate to the likely selling price?
The unit last sold for $12,70k in May 2023, closely aligned with its current $12,90k assessed value. This suggests a stable, low-value market for the unit, but the final price will depend on current market conditions and the details of the condo corporation's finances.
4. What is the parking situation?
Parking is often a premium on Pembina Highway. Clarifying whether the unit includes a dedicated parking spot, and if so, whether it's indoor or outdoor, is a key practical consideration.
5. What is the rental policy for the condo building?
For an investor or a buyer who may need flexibility, understanding if the building allows rentals, and if there are any caps on the number of rental units, is crucial before purchasing.