301-494 Beliveau Road E

Property Overview & Key Characteristics

This property at 301-494 Beliveau Road E is a compact, 675 sqft unit built in 1970. Its primary appeal lies in its exceptionally low financial barrier to entry, evidenced by an assessed value of just $17,900. The standout feature is its location within the Lavalee neighbourhood, where it ranks in the top 1% of properties on its street and the top 0% within both the neighbourhood and the entire city of Winnipeg for lot size or land area. This suggests it is part of a larger, well-situated parcel of land.

The unit itself is modest, with no basement, pool, or garage. Its living area is smaller than many comparable listings, placing it in the top 10% for size on its street, but this is relative to a mix of property types. The appeal is squarely for the value-focused buyer or investor seeking a minimal holding cost in a statistically top-ranked location. It would suit a pragmatic first-time buyer looking for the lowest possible entry point into the market, an investor considering the land value potential of the larger property complex, or someone seeking a minimal, low-maintenance footprint without compromising on a premier locational ranking.

Frequently Asked Questions

1. What does the "top 1% in same street" ranking actually mean?
This ranking is for "Land Area." It indicates that this unit's share of the total land for the property at 494 Beliveau Road E places it in the 99th percentile compared to other properties on Beliveau Road. This doesn't mean the unit itself is large, but that it is part of a sizable land parcel.

2. With such a low assessed value, what are the likely condo or maintenance fees?
The provided data does not include monthly fee information. For a property of this age and value, it is crucial to inquire about the status certificate and the monthly fees, which could be a significant factor in the total monthly cost and may cover amenities or major repair reserves.

3. Who might this property not be suitable for?
It would likely not suit buyers needing space for a family, those desiring a detached home with a private yard and garage, or anyone uncomfortable with a very compact living space or potential higher density living typical of a multi-unit building.

4. The year built is 1970. Should I be concerned about major repairs?
The building is over 50 years old. While the low assessed value reflects this, a key question is how major repairs and replacements (like roofing, windows, or building systems) have been managed and funded by the condominium corporation, which would be detailed in the reserve fund study.

5. Why are the comparable listings so different in size and value?
The "similar assessed value" listings are matched solely on price point, not on unit type or size. The "nearby" and "for reference" listings show a mix of property types (detached homes, other condos) in various neighbourhoods, highlighting that this unit's value proposition is uniquely its low cost and high land-ranking location, not its square footage.