Property Overview
This is a compact, 340-square-foot condominium unit located at 4-1462 Pembina Highway in Winnipeg's Crescent Park neighbourhood. Built in 1959, it is notably one of the smallest and lowest-assessed properties in its immediate area and city-wide comparisons. Its most recent recorded sale was in January 2020 for $90,000. The appeal lies squarely in its function as a minimal-maintenance entry point into the Winnipeg housing market. It suits a very specific buyer: someone seeking the absolute lowest-cost ownership option, such as a first-time buyer on a tight budget, an investor looking for a basic rental unit, or someone wanting a pragmatic, no-fuss personal space. Its location on a major arterial road like Pembina Highway offers high convenience for transit and amenities, but comes with the expected trade-offs of noise and less residential tranquility. A thoughtful perspective is that a property of this scale and price represents pure utility—it’s less about lifestyle and more about securing an asset with minimal financial overhead.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 100%") actually mean for this property?
It means this unit ranks at the very bottom of its comparison groups for size and assessed value. For example, being "Top 100%" and ranked 1121 out of 1121 for living area on its street indicates it is the smallest among those comparable properties.
2. Who would this property be most suitable for?
It is best suited for budget-focused first-time buyers prioritizing ownership over renting, or for investors seeking a low-cost rental property. Its small size and minimal upkeep make it impractical for most families or those who work from home.
3. Are there any concerns with a building from 1959?
While the building has been maintained, its age suggests potential for older building components. A thorough inspection and review of the condominium reserve fund study are essential to understand the financial health of the corporation and plan for future special levies.
4. What are the pros and cons of the Pembina Highway location?
The major pro is unparalleled convenience to buses, shops, and services. The significant con is exposure to constant traffic noise, which affects livability and can be a factor in resale value.
5. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes, which is a financial advantage for the owner. However, it is also a direct reflection of the unit's very small size and the building's age and location.