Property Overview: 1136 Grosvenor Avenue, Crescentwood
Key Characteristics, Appeal & Ideal Buyer
This is a classic two-storey home built in 1941, situated on a generous, approximately 4,853 sqft lot in the established Crescentwood neighbourhood. Its key characteristic is a clear contrast: it offers a sizable parcel of land in a prime area, paired with a more modestly sized living space of 1,208 sqft. The home features a detached garage and a renovated basement.
The primary appeal lies in its location and land value. The lot size is above average for the immediate street and neighbourhood, presenting a significant opportunity for expansion, renovation, or simply enjoying ample outdoor space in a sought-after area. While the living area is currently smaller than many neighbouring homes, this positions the property as a potential "value-add" project. It suits buyers looking for an entry point into a prestigious neighbourhood, those interested in a custom renovation or addition to create their ideal home, or investors who recognize the underlying value of the land. It’s less suited for buyers seeking a large, move-in-ready property without any project plans.
Frequently Asked Questions
1. Is the assessed value an accurate reflection of the market price?
Likely not directly. The assessed value is for taxation purposes and is significantly lower than typical Winnipeg home prices. The market price will be determined by recent sales of comparable properties, the home's condition, and the high demand for lots in Crescentwood.
2. What does "renovated basement" entail?
The listing notes a renovated basement, but specifics on the finish quality, permits, and the nature of the renovation (e.g., cosmetic vs. structural, added bathroom or kitchenette) are not provided. This is a key detail to investigate during a viewing or by requesting documentation.
3. Given the smaller living area, what is the potential for an addition?
The large lot is a major asset here. There appears to be physical space for a lateral or rear addition, subject to local zoning bylaws, setback requirements, and heritage designations if applicable in Crescentwood. A pre-purchase consultation with an architect or builder is highly recommended.
4. How does the 1941 construction date affect the property?
While the home is newer than many on the street (ranking in the top 21%), it still requires careful attention to aging components. A thorough inspection for the roof, wiring, plumbing, and insulation is essential. The upside is that it may have undergone some updates over the years that even older homes haven't.
5. The last sale was in 2021 for $38,800. Why is it being sold again so soon?
This is an important question. The 2021 sale price is unusually low and does not reflect a standard market transaction. It may have been a private sale between parties, a transfer of title, or a sale "as-is" for land value. The current listing will be priced according to the current market.