Property Overview: 1161 Grosvenor Avenue, Crescentwood, Winnipeg

Key Characteristics & Appeal

This property is defined by its substantial, 9,086 sqft lot, which places it in the elite top 2% for land size on Grosvenor Avenue. The land itself is the primary feature, offering rare potential for expansion, gardening, or outdoor living in a coveted inner-city neighbourhood. The one-and-a-half storey home, built in 1920, presents a classic character footprint with an unrenovated basement and detached garage. Its living space (2,035 sqft) and assessed value are comfortably average for the desirable Crescentwood area, suggesting the price is driven significantly by the lot rather than a modernized interior.

The appeal lies in a "blank canvas" opportunity on a premier street. It suits a specific buyer: someone seeking a character home in a mature, established neighbourhood who values space and potential over immediate move-in readiness. It’s ideal for a long-term visionary—whether that’s a family planning future additions, an individual wanting a sprawling urban garden, or a buyer comfortable with a project to tailor the home to their tastes over time. The value proposition is securing a landmark-sized property in a location where such lots are exceptionally rare.

Frequently Asked Questions

1. Is the home in move-in condition?
The listing notes the basement is unrenovated. Given the home's age (1920) and the focus on lot size in the data, buyers should anticipate a property that likely requires updates, making a thorough inspection essential.

2. Why is the lot size so significant?
At over 9,000 sqft, the lot is more than 65% larger than the average Crescentwood property. This isn't just about a big yard; it provides tangible options for future additions, building a new garage, or creating extensive outdoor living spaces that are simply not possible on standard lots.

3. How does the assessed value relate to the likely sale price?
The home last sold for $478,000 in late 2022, close to its current $480,000 assessed value. In a stable market, this can indicate a realistic baseline. However, the premium lot size in this location may influence the final sale price based on buyer demand for land.

4. What are the less obvious considerations with such a large, older property?
While the space is a major asset, consider the ongoing maintenance for an older home and a large property (e.g., landscaping, potential for older wiring or plumbing). The unrenovated basement also warrants checking for moisture management and foundational integrity.

5. Who would this property not suit?
It is likely not a match for buyers seeking a low-maintenance, turn-key home or those unwilling to undertake renovations. The value here is in the long-term potential of the land and the character of the neighbourhood, not in immediate modern convenience.