701-1355 Lee Boulevard

Property Overview: 701-1355 Lee Boulevard, Winnipeg

Section 1: Key Characteristics & Appeal

This condominium at 701-1355 Lee Boulevard in Fairfield Park presents a specific value proposition. Its key characteristic is its modern age, built in 2018, making it one of the newest units in its immediate area and neighborhood. This suggests newer building systems, modern finishes, and potentially lower maintenance concerns in the near term.

The appeal lies in its affordability and efficiency. With a living space of 896 sqft, it is compact yet functional, reflected in its below-average assessed value for the street but above-average value citywide. This positions it as an accessible entry point into a newer building. The unit includes a basement, offering additional storage or utility space.

This property would best suit first-time buyers or investors seeking a modern, low-maintenance property at a competitive price point. It’s also a practical fit for downsizers looking for a newer build without a large footprint. A less obvious perspective is its potential appeal to a value-conscious buyer who prioritizes the condition and age of building infrastructure over square footage, viewing the smaller size as a trade-off for newer mechanicals and building code compliance.

Section 2: Frequently Asked Questions

1. Is this a good value compared to other condos?
Citywide, its assessed value ranks in the top 26%, meaning it’s valued higher than about 74% of comparable properties. However, on its own street and in Fairfield Park, it ranks as average or slightly below average in value, indicating the price is very specific to its immediate context of newer builds.

2. How does the size compare to other homes?
At 896 sqft, the living area is below the average for both Lee Boulevard and the Fairfield Park area. It is much more aligned with the citywide average for condos, indicating a efficient, compact layout.

3. What does the sale history indicate?
The unit sold previously in 2018 and 2020. The published price ranges show stability, with sales clustering around the current assessed value of $31,100, suggesting the assessment is in line with recent market activity.

4. What are the benefits of the 2018 build year?
As one of the newest buildings on the street and in the neighborhood, it likely benefits from contemporary construction standards, newer appliances, and potentially more efficient windows and insulation, which can mean lower utility costs and fewer major repairs in the short to medium term.

5. Who handles maintenance and repairs?
As a condominium, the building’s exterior, common areas, and major structural elements are managed and maintained by the condo corporation, funded through monthly fees. Buyers should review the corporation’s financial health, reserve fund, and bylaws to understand rules and future fee stability.