Property Summary: 707-1030 Grant Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a 633 sqft condominium in the established Grant Park neighbourhood, built in 1970 with a current assessed value of $160,000. Its primary appeal lies in its location and relative value within a desirable area. While the living space is compact compared to city-wide averages, the property holds a strong position within Grant Park itself, ranking well above the neighbourhood average for assessed value. This suggests you are paying for the location more than the square footage.
The unit would suit a first-time buyer, a downsizer, or an investor seeking an affordable entry into a mature, well-located neighbourhood. It’s for someone who prioritizes community and convenience over spaciousness. A less obvious perspective is that a smaller, efficiently designed space in a great area can often offer a simpler, more manageable lifestyle with lower utility and maintenance costs, freeing up resources for enjoying the neighbourhood amenities.
Section 2: Frequently Asked Questions
1. Is this unit a good value for money?
The data presents a nuanced picture. Its assessed value is above average for Grant Park condos, indicating strong desirability for the location. However, the living area is below average for the street and city. Value here is tied more to the neighbourhood than the unit's size.
2. What does the recent sold price range tell me?
The listed range (approximately $13.5k to $16.5k) appears to be an error or reflect a unique circumstance, as it is drastically lower than the $160k assessed value. This discrepancy requires clarification and underscores the importance of requesting the exact sold price history directly.
3. Who would this property not suit?
It would not suit buyers who need multiple bedrooms, dedicated workspace, or ample storage. Those prioritizing spacious, modern interiors or newer building amenities may also find it limiting.
4. How does its age (1970) affect things?
The building is older, but within its immediate Grant Park condo context, it’s actually among the newer builds. This means potential common area updates or major repairs could follow the schedule of a mid-70s building, which is an important consideration for condo fee stability.
5. What should I investigate about the condo corporation?
Given the age of the building and the significant gap between the sold price and assessed value, it is crucial to review the condo's reserve fund study, recent fee history, and minutes for any discussions about special levies or major upcoming projects.