Property Overview: 284 Larsen Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-storey home built in 1925, situated on a generously sized lot in the Chalmers neighbourhood. Its key appeal lies in its land value and potential, rather than its current living space. The 3,299 sqft lot is notably larger than most on its street and in the local area, offering above-average outdoor space for the location. The home itself is modest at 660 sqft with an unrenovated basement and a detached garage, reflecting its value as an entry-point property or a land play.
The property suits two primary types of buyers. First, it’s a practical entry point for a first-time buyer, handyperson, or investor comfortable with a smaller footprint and the opportunity to gradually improve the home. Second, and less obviously, it appeals to those who see long-term value in land. In a city where lot sizes are generally shrinking, securing a larger parcel in an established neighbourhood can be a strategic move, whether for future expansion, redevelopment, or simply for the luxury of more private outdoor space.
Its assessed value is consistent with the immediate area, suggesting it’s priced for its current state. The appeal is grounded in practicality, affordability, and the latent potential of the land itself.
Section 2: Frequently Asked Questions
1. Is the basement finished or usable for storage/living space?
No, the basement is noted as not renovated. Buyers should budget for any desired improvements and investigate its condition for basic storage or utility use.
2. How does the lot size compare to nearby properties?
The lot is 3,299 sqft, which is larger than the average for both Larsen Avenue and the broader Chalmers neighbourhood. This is one of the property's standout features.
3. What type of neighbourhood is Chalmers?
Chalmers is an established, older Winnipeg neighbourhood. The property's metrics (like year built and assessed value) are typical for the area, indicating a stable, mature community.
4. The living area seems small. How does it compare?
At 660 sqft, the living area is below average for the street, neighbourhood, and city. This confirms the home is a compact, efficient layout, emphasizing the property's value as a land-holding or a very modest starter home.
5. The last sale was in 2019 for $16,500. What does that indicate?
This was likely a nominal or non-arms-length transaction, not reflecting a typical market sale. The current assessed value of $18,900 provides a more relevant municipal valuation benchmark for the property in its present condition.