10-1056 Grant Avenue

Property Overview

This is a compact, 533-square-foot condo unit in the well-established Grant Park neighbourhood. Built in 1964, its key characteristic is its notably low assessed value, which ranks in the bottom 3-7% compared to similar properties on its street, in the area, and across Winnipeg. The living space is also significantly below average for comparable homes. Its appeal lies squarely in affordability and location. It represents a very low barrier to entry into a central, desirable area with mature amenities. This unit would suit a first-time buyer, an investor looking for a rental property with a minimal upfront cost, or someone seeking an extremely efficient, low-maintenance lifestyle who prioritizes location over interior space.

Frequently Asked Questions

1. Why is the assessed value so much lower than other properties?
The assessed value reflects factors like the unit's smaller size (533 sq ft) and its age. In a building from 1964, the overall condition, specific unit features, and potential condo corporation financial health can all influence valuation compared to newer or larger units.

2. What are the condo fees, and what do they cover?
This is the most critical question for any condo purchase. The listing data does not include this information. You must obtain the condo corporation's budget and bylaws to understand the monthly fees, what utilities or amenities they cover, and the size of the reserve fund for future repairs.

3. Is this a good investment opportunity?
Given the low assessed value and sold price history, the potential for strong rental yield relative to the purchase price could be attractive. However, investment viability depends heavily on the condo fees, rental demand in the building, and any upcoming special assessments for major repairs.

4. How does the building's age affect living here?
A 1964 building often features more solid construction but may have older mechanical systems (plumbing, electrical). The condition of common areas and the corporation's plan for updating these elements are important. Soundproofing between units can vary in buildings of this era.

5. What was the exact recent sold price?
The public data shows a sale in August 2021 for an estimated range. For precise historical sale prices, you can request the exact figure directly from the source of this data, as they offer to provide it via email.