Property Overview: 5-954 Summerside Avenue, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This 912 sqft condominium at 5-954 Summerside Avenue presents a practical and value-oriented opportunity in the Fort Richmond neighbourhood. Built in 1979, its key appeal lies in its strong positional value within its immediate context. The living space is notably above average for similar units on Summerside Avenue itself, and its assessed value ranks well above average for the Fort Richmond area. This suggests a property that offers more space and perceived value than many of its local peers, potentially at a competitive entry point.

The unit includes a basement, which provides valuable extra storage or utility space, though it is noted as not being renovated. The building’s age indicates potential for future updates to suit personal taste. This property would likely suit a first-time buyer, an investor, or a downsizer seeking a functional, no-frills home in a established area without paying a premium for modern finishes. Its appeal is grounded in solid fundamentals—space and assessment value that outperform its direct neighbours—rather than luxury features.

Section 2: Frequently Asked Questions (FAQs)

1. What does the above-average ranking for assessed value in Fort Richmond mean?
It indicates that, according to municipal assessment, this unit’s value is higher than 88% of comparable properties in the Fort Richmond area. This can be a sign of good underlying value for the neighbourhood, but the final market price is determined by current conditions.

2. The unit has a basement. What is its condition?
The listing specifically notes the basement is “not renovated.” Buyers should budget for potential updates and include a thorough inspection to understand its current state and any moisture or maintenance considerations.

3. How recent is the sold price data available?
The last recorded sale was in August 2017. For the most accurate and recent sale price, you must request the information directly via the provided email service, as only a range is published publicly.

4. The building was built in 1979. Are there major concerns with its age?
While the building’s age is not uncommon for Winnipeg condos, it does mean prospective buyers should pay close attention to the status of major building components like the roof, windows, and mechanical systems. Reviewing the condo corporation’s reserve fund study and minutes is essential to understand future repair plans and fees.

5. There are several units at the same address (e.g., 2-954, 3-954). What does this indicate?
This is a multi-unit condominium complex, likely townhouse-style units. It’s important to understand the condo rules, the soundproofing between units, and the shared responsibilities for exterior and common elements managed by the condo corporation.