Property Overview & Key Characteristics
This is a classic, well-situated single-family home in the established Varsity View neighbourhood. Its primary appeal lies in the combination of a substantial, mature lot and a solid location within the city. The property sits on an exceptionally large lot of over 15,000 sqft, which ranks in the top 2% of all properties in Winnipeg for land size. This offers rare potential for expansion, gardening, or simply enjoying generous private outdoor space in a central area. The home itself is a modest 831 sqft bungalow from 1959 with a finished basement and a detached garage.
The property would best suit a specific type of buyer: those who value land and location over a large or modern house. It's an ideal candidate for a long-term hold, appealing to builders or investors eyeing future development potential, or to homeowners willing to live in a smaller footprint while investing in a premier lot. Its strong rankings for lot size and assessed value within its community suggest it's a property built on a valuable asset, even if the existing structure is dated and smaller than average for the area. This isn't a move-in-ready dream home; its appeal is more foundational and strategic.
Frequently Asked Questions
1. What is the true value proposition here?
The value is overwhelmingly in the land. You are purchasing one of the largest residential lots in Winnipeg in a mature, sought-after neighbourhood. The house, while livable, is secondary to the long-term asset of the property itself.
2. Is this a teardown candidate?
Given the age and relatively small size of the home compared to the lot, it is a prime candidate for a significant renovation or complete redevelopment in the future. The large lot provides uncommon flexibility for expansion or rebuilding within zoning bylaws.
3. How does the age of the home affect things?
Built in 1959, major original systems (like plumbing, electrical, or the roof) may be at or beyond their typical lifespan. A thorough inspection is crucial to understand the condition and any needed updates, which should be factored into any offer.
4. The lot is huge, but what about maintenance?
A 15,000 sqft lot requires considerable upkeep—mowing, landscaping, and snow removal. This is a significant time or financial commitment compared to a standard city lot.
5. Why have the previous sales been so close together (2016 and 2017)?
The quick resale could be due to many neutral factors (investor flip, change in owner circumstances) or could hint at an issue discovered after purchase. It underscores the importance of detailed inspections and reviewing all available property history.