Property Overview & Key Characteristics
This is a compact, 425 sqft condominium at 5-2 Carriere Avenue in Winnipeg's Glenwood neighbourhood. Built in 1960, it is one of the older units on its street, which can sometimes mean simpler, more durable construction. Its primary appeal lies in its affordability and low carrying costs, as evidenced by its modest assessed value and past sale prices in the $9.5k-$12.5k range. The unit ranks as average or slightly below average in size and value within its immediate area, but is significantly smaller and more affordable than the typical Winnipeg home.
This property would suit a very specific buyer: someone seeking the absolute lowest possible entry point into homeownership, an investor looking for a minimal-cost rental property, or a buyer who prioritizes location and basic shelter over space. It is not suited for those needing room for a family or modern, expansive living areas.
Frequently Asked Questions
1. What are the monthly condo fees, and what do they cover?
This information is not provided in the public data. A buyer must contact the property manager or condo board directly to get the current fee amount and a detailed breakdown of what utilities, maintenance, or amenities are included.
2. Is this a good investment property?
Given the very low purchase price, the barrier to entry is minimal. Its viability as a rental depends entirely on the monthly condo fees, the rental rates for similar micro-units in Glenwood, and the building's rules regarding rentals. The potential for significant capital appreciation may be limited compared to larger properties.
3. How does the "below average" citywide ranking affect me?
While the unit is small compared to the Winnipeg average, this is reflected in its price. For the right buyer, this isn't a drawback but the source of its affordability. It means you are purchasing a functional, private space for a fraction of the cost of a standard house or larger condo.
4. The unit sold twice recently (2019, 2021). Is that a concern?
The short ownership periods could indicate investor turnover or simply personal circumstances. It's a point to investigate, but not an automatic red flag. Reviewing the condo corporation's health and minutes would be more important to uncover any underlying building issues.
5. What should I look for in a building this age?
A 1960s building may have well-built fundamentals but aging components. An inspection is crucial. Specifically, ask about the condition of major systems like plumbing and electrical, the building's envelope and windows, and the status of the reserve fund for future repairs like roof replacement or balcony repairs.