Property Overview
This is a compact, 522-square-foot condominium located at 11-1462 Pembina Highway in Winnipeg's Crescent Park neighbourhood. Built in 1959, it is notably smaller and older than most comparable properties in the area and across the city. Its assessed value is significantly below local averages, reflecting its vintage and modest size. The unit last sold in 2016.
Key Characteristics & Appeal
The primary appeal of this property lies in its accessibility and affordability within a major urban corridor. It represents a low-barrier entry point into the Winnipeg market, particularly suited for first-time buyers, investors, or downsizers with a tight budget who prioritize location over space. Its position on Pembina Highway offers unmatched convenience for transit and access to amenities, services, and major routes like Bishop Grandin Boulevard.
This condo would suit a pragmatic buyer who views real estate as a utility—a place to live with minimal overhead—rather than a spacious home. It’s a practical choice for someone who spends little time at home or who prefers to invest their resources in experiences rather than property maintenance and high carrying costs. The very low assessed value also suggests potentially manageable property taxes, which is a key, though less obvious, financial advantage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the area average?
The assessed value is based on the property's specific characteristics, primarily its small size (522 sq ft) and older building age (1959), which place it well below the norms for the neighbourhood and city.
2. What type of lifestyle does this condo support?
It supports a low-maintenance, efficient lifestyle ideal for a single occupant or couple. It's best for those who are comfortable in compact living spaces and who value location and affordability above interior square footage.
3. Are there any concerns with a building from 1959?
While the building is older, a prospective buyer should investigate the condo corporation's reserve fund study, maintenance history, and any recent special assessments. Understanding the financial health of the building is crucial for a property of this age.
4. How does the ranking system ("Top 100%") work?
These rankings compare this specific unit against similar properties. For example, a "Top 100%" rank for living area means it falls at the very bottom of the comparison range—it is smaller than 100% of comparable listings, indicating it is among the smallest units available.
5. What should I consider regarding its location on Pembina Highway?
You'll have exceptional convenience for transportation and shopping. However, be prepared for potential traffic noise and a streetscape environment rather than a quiet, residential feel. Consider visiting at different times to gauge the noise level.