Property Summary: 109-3420 Grant Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a 780 sqft condominium unit in Elmhurst, built in 1993. Its primary appeal lies in its exceptional value and competitive positioning within its immediate area. While the unit's size is modest, its strength is in its relative affordability, as evidenced by its assessed value of $188,000 and a previous sale at $175,000 in 2019. The property boasts standout rankings for its specific building within the broader community, placing in the top tier for its area. This suggests a well-maintained building that holds its value effectively against local comparables.
The unit would suit first-time buyers or downsizers seeking a low-maintenance, cost-effective entry into the Winnipeg market, particularly in the Grant Avenue corridor. It also appeals to pragmatic investors looking for a stable, income-producing property with a historically manageable price point. A less obvious perspective is that its strong "within-building" rankings indicate a sense of community and consistent upkeep that might not be as prevalent in nearby alternatives, offering intangible stability that isn't always captured by square footage alone.
Section 2: Frequently Asked Questions
1. What are the monthly condo fees, and what do they cover?
This is the most critical financial question for any condo purchase. The fees impact your total monthly cost and cover shared expenses like building insurance, maintenance, reserve fund contributions, and likely some utilities.
2. How old is the roof and major building systems?
Given the building's age (33 years), understanding the condition and replacement timeline for major capital items like the roof, windows, and heating system is essential. The health of the condo corporation's reserve fund to cover these projects is directly linked.
3. Is the unit's interior original from 1993?
The interior condition will significantly affect move-in readiness and potential immediate costs. Knowing if key elements like the kitchen, bathroom, flooring, and in-suite laundry have been updated helps assess value.
4. What is the parking situation?
The listing notes no garage. Clarify if there is a dedicated surface spot, unreserved street parking, or a secured underground lot, as this affects daily convenience and may influence insurance costs.
5. What is the renter-to-owner occupancy ratio in the building?
A higher owner-occupancy rate often correlates with greater care for the property and stability. For investors, it indicates rental competition; for owner-occupants, it suggests a more settled community.