Property Overview: 2-1462 Pembina Highway, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, no-frills property on Pembina Highway. Built in 1959, its key characteristic is its exceptionally low price point, with a recent sale and assessed value near $12,000. At 532 square feet, the living area is significantly smaller than most comparable homes in the city, neighbourhood, and along the street. The data indicates it has no basement, garage, or pool.
Its primary appeal lies in its function as a minimal-capital entry point into the Winnipeg market. It suits a very specific buyer: an investor looking for a low-cost addition to a portfolio, someone seeking the absolute least expensive path to property ownership, or a buyer with plans for a complete rebuild. Its location on a major arterial road offers high visibility and convenience for commercial or mixed-use potential, which is a less obvious angle for such a small unit. It is not suited for those seeking move-in-ready comfort, space, or traditional residential amenities.
Section 2: Frequently Asked Questions
1. What exactly is this property?
Based on the address format ("2-1462") and the listing of multiple units at the same address (e.g., 1-1462, 5-1462), this is almost certainly a single unit within a larger multi-suite building, likely a condominium or a housing co-operative.
2. Why is the price so low?
The price reflects the property's age, very small square footage, lack of additional features (like a basement or garage), and its ranking well below averages for assessed value in all comparison categories.
3. What are the monthly fees?
This listing does not include condo or co-op fee information. This is a critical question for any interested buyer, as monthly fees can significantly impact affordability and would need to be obtained directly from the seller or property manager.
4. Is this a good investment?
As a pure real estate holding, its value is in its land and location on Pembina Highway. The building itself adds little value. Its investment potential would depend on future development plans for the site, the financial health of the building (if a condo), or its income-generating potential relative to the ultra-low purchase price.
5. What does the "ranking" data mean?
The rankings show how this property compares to others. For example, "Top 99%" for Year Built means it is older than 99% of comparable listings, placing it in the bottom 1%. This consistent pattern across metrics confirms it is an outlier in terms of age, size, and value.