Property Summary: 2194 Portage Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-storey home in Winnipeg's Birchwood area, built in 1949. Its defining feature is an exceptionally large, nearly 28,000 sqft lot, placing it in the top 2% of its neighbourhood and the top 1% city-wide for land area. This offers rare potential for expansion, gardening, or outdoor recreation within city limits. The house itself is modest at 1,058 sqft with an unrenovated basement, suggesting it’s a candidate for updates or represents a value-focused entry point.
The appeal lies in a unique value proposition: a property with premium land size at a working price point. It suits two primary buyer types. First, the long-term visionary or builder seeking a large canvas for a future dream home or significant addition. Second, the practical buyer who prioritizes generous outdoor space and location over a turn-key interior, willing to renovate over time. A less obvious perspective is its potential as a multi-generational compound, where the vast lot could accommodate a secondary dwelling. Its strong rankings for past sale price in the area also indicate it’s in a desirable micro-location within Birchwood.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, but may lack modern finishes. Buyers should budget for potential updates and include a thorough inspection for moisture, insulation, and foundational integrity.
2. With no garage, what are the options for vehicle parking?
The property listing does not specify driveway details. This is a key question for the seller or a viewing, as on-street parking or the potential to add a driveway or garage on the large lot will be important considerations.
3. How does the 2021 sale price compare to today's value?
The property sold for $500,000 in late 2021, a price that ranked very highly locally at the time. This historical data points to the property's desirability, but current market conditions must be assessed for an accurate present valuation.
4. Are there any restrictions on subdividing such a large lot?
This is a critical question. While the lot size is unusually large, subdivision is subject to City of Winnipeg zoning bylaws, minimum lot size requirements, and utility access. Due diligence with the city's planning department is essential.
5. The home's age and assessed value seem low relative to the lot. What should I consider?
The assessed value is primarily for tax purposes and reflects the existing structure. The market value will account for the land's premium potential. Focus inspection efforts on major age-related systems: roof, plumbing, electrical, and heating, as these could represent significant upcoming investments.