495 Aberdeen Avenue

Property Overview & Key Characteristics

This property at 495 Aberdeen Avenue in Winnipeg's William Whyte neighbourhood presents a distinct opportunity. Its key characteristic is the land itself—a lot of nearly 3,000 square feet, which is notably larger than most in the immediate area and ranks within the top 10% for size across the entire city. The appeal lies squarely in this blank-canvas potential. With an assessed value significantly lower than all nearby comparable properties, it suggests a property ripe for redevelopment or a major renovation project, rather than a move-in-ready home.

It would best suit a specific type of buyer: investors, builders, or hands-on purchasers with a vision and the capability to undertake a substantial project. The value proposition is the land in a long-established neighbourhood, offering the chance to create new housing stock. A less obvious perspective is that such a low assessment on a large lot in a central urban area can sometimes indicate municipal holdings or specific conditions that require thorough due diligence. This isn't a typical residential purchase; it's a project-based investment.

Frequently Asked Questions

1. Why is the assessed value so much lower than the nearby properties?
Extremely low assessments often indicate that the primary value is in the land, not the existing structure. The building may be considered to have minimal value due to its condition, or it could be a vacant lot.

2. What does the "rank" information for the street and neighbourhood mean?
The rankings compare this property's specific metrics (like land area) against all other properties on its street, in William Whyte, and in Winnipeg. For example, its land area is in the top 24% on Aberdeen Avenue and top 10% in Winnipeg, highlighting its large lot size.

3. What type of project could be done here?
Given the large lot size, possibilities could include constructing a new single-family home, a multi-unit development (subject to zoning), or a significant renovation of any existing structure. The neighbouring properties provide a sense of the area's existing housing scale.

4. Are the "Similar Assessed Value" properties similar in type?
Not necessarily. This list groups properties with the same municipal assessed value ($5,700), which may include vacant lots, condominium units, or small homes in various neighbourhoods. It shows value equivalence, not property equivalence.

5. What are the most important next steps for a interested buyer?
Essential due diligence includes verifying the exact property status (vacant land or with a structure), reviewing all zoning bylaws and development regulations for the lot, and conducting a full title search. A site visit and consultations with the city planning department are crucial.