Property Overview: 103-1002 Grant Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a 760 sqft condominium in the established Grant Park neighbourhood, built in 1963. Its key characteristic is its affordability, reflected in a well-below-average assessed value. The appeal lies in its position as an accessible entry point into a desirable, central area. While the unit's size and age rank below average for its street and the city, it stands out within Grant Park itself for having more living space than many comparable local units.
This property would suit a pragmatic, value-focused buyer. It’s ideal for a first-time purchaser, an investor seeking a lower-cost rental unit, or a downsizer prioritizing location over a modern build. The buyer should be comfortable with a building from the 1960s, likely appreciating the potential for character over contemporary finishes, and must be prepared for the possibility of special assessments common to older condo corporations.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is influenced by the unit's smaller size, the building's age (1963), and potentially the condo corporation's financials or building condition. It places in the bottom 10% for value on its own street.
2. What does it mean that the living area is "above average" for Grant Park but "below average" city-wide?
Grant Park has many smaller condo units. At 760 sqft, this unit is more spacious than many in the immediate area (ranking in the top 28%), but is still considered compact compared to the typical Winnipeg home.
3. How reliable are the sold price ranges shown?
The ranges are based on public data. For the exact sold price, you must request it via email. This is a manual process to ensure accuracy, as public records can be incomplete.
4. What should I investigate about a condo building from 1963?
A thorough review of the condo corporation's status certificate is essential. Focus on the reserve fund study, any history of special assessments, upcoming major repairs (like windows, roofing, or plumbing), and the monthly fee breakdown.
5. The unit last sold in February 2023. Is that recent activity a good sign?
It indicates the property is transactable, but the reason for the quick turnaround is unknown. It underscores the importance of understanding the recent history and could be a point of discussion with your realtor.