Property Overview & Key Characteristics
This condominium at 1503-160 Tuxedo Avenue is a standout property defined by its exceptional space and premium valuation. Its primary appeal lies in its sheer size—at 2,400 sqft, it ranks in the top 4% on its street and the top 1% city-wide for living area, offering a rare condo footprint that rivals many single-family homes. This is matched by a top 1% assessed value of $1.07M, confirming its elite market position in the Edgeland neighborhood and across Winnipeg.
Built in 1984, the building is well-established, offering a mature setting. The unit’s appeal is not just in its metrics but in the lifestyle it affords: substantial interior space within a managed building, ideal for those seeking a low-maintenance residence without compromising on room to live. This property would best suit empty-nesters looking to downsize from a house without downsizing their comfort, professionals desiring a prestigious and spacious urban home, or buyers who prioritize space above newer construction finishes. It’s for someone who understands they are purchasing proven, premium square footage in a desirable location.
Frequently Asked Questions
1. What does a "top 1%" ranking for assessed value actually mean?
It means this unit’s official assessed value is higher than 99% of all residential properties in Winnipeg. This strongly indicates a premium property in terms of location, size, and perceived market value, though final sale price is determined by the market.
2. Is a 1984 building a concern?
The building is 40 years old, which is around the city-wide average. While it’s not a new build, its age is typical for many well-maintained concrete condo buildings. The focus should be on the building's reserve fund study, maintenance history, and any recent major renovations (like windows, roof, or elevators).
3. Who is responsible for exterior and grounds maintenance?
As a condominium, the corporation is responsible for the building exterior, common areas, and grounds. This is a key benefit for buyers seeking a low-maintenance lifestyle, as costs for these are covered through the monthly condo fee.
4. The last sale was in 2017 for $1.08M. What does that suggest?
It suggests long-term ownership and remarkable price stability. The fact that the current assessed value ($1.07M) is virtually identical to that sale price seven years ago indicates the property held its value consistently in a changing market.
5. Are utilities included in the condo fee?
This detail is not provided in the data. You must review the condo documents to confirm what the monthly fee covers (e.g., heat, water, common electricity) and what costs are the owner’s responsibility. This significantly impacts the total monthly cost of ownership.