Property Overview
This 1956 one-storey home at 1793 King Edward Street in Winnipeg's Brooklands neighbourhood presents a specific and straightforward opportunity. Its key appeal lies in the land itself. The 5,053 sqft lot is notably larger than many in the immediate area and ranks above average for both the street and the broader Brooklands community. This contrasts with the home's living area of 672 sqft, which is quite compact. The assessed value is correspondingly low, reflecting the modest building.
The property would primarily suit a buyer looking for a land play—someone interested in the potential of the lot over the existing structure. This could include investors, builders, or handy individuals planning a future renovation or rebuild who are comfortable starting with a very basic home. It's a pragmatic choice for those focused on location and lot size, with the understanding that the current house offers minimal space.
Frequently Asked Questions
1. Is this a teardown property?
While not explicitly marketed as such, the data suggests it's a strong candidate. The very small living area and low assessed value relative to the lot size indicate the primary value is in the land, not the existing structure.
2. How does the lot size compare to a standard city lot?
The lot is a notable feature. At over 5,000 sqft, it is larger than the average lot in Brooklands and on King Edward Street itself, offering more outdoor space or future development flexibility than many nearby properties.
3. What does the low assessed value mean?
The low municipal assessment primarily reflects the value of the current building, which is small and dated. It should not be mistaken for a likely sale price, which will be influenced more by current market demand for land in the area.
4. Could this be a good rental property?
In its current state, its rental appeal would be limited due to the very small size. Any rental scenario would likely depend on significant renovation to improve livability or would be considered a temporary measure by an investor planning future development.
5. What is the neighbourhood like for new construction or major renovations?
Brooklands is a mature neighbourhood with a mix of older and updated homes. The above-average lot size for the area is a positive factor for any construction project, but potential buyers should always consult the City of Winnipeg's zoning bylaws and application processes for new builds or major additions.