Condo Spotlight: Chimney Ridge Condos at 3040-3080 Pembina Hwy, Winnipeg
Located on the east side of the street, from 3040 to 3080 Pembina Hwy. we find the Chimney Ridge Condos.
Year Built: ca. 1977
Chimney Ridge Condos are made up of 98 condos in 5 separate buildings. There are 2 distinct styles of units, each 1100 sq ft in size. One type is the main floor, one-level unit, and the other type is a two-story unit which is actually located ABOVE the main floor condos. This second type of condo requires the owner to walk up one flight of stairs to get to the living-room/dining-room/kitchen space, and then walk up a 2nd flight of stairs to get to the 2 bedrooms and bathroom.
Just the usual condo-restrictions, such as “No Laundry to be hung from the balcony” etc. Pets are allowed, so long as they don’t pose a nuisance to other owners.
Gross Property Taxes are currently at approx. $2115.00 per unit. Of course, as an owner who actually lives in their unit, you would qualify for the Provincial Home Owners Assistance Rebate, similar to when you own a house.
Condo fees are $210 per month, which includes snow removal, property maintenance and management fees. Owners pay for their own hydro, telephone, and water bills.
Laundry and Parking
All units have their own in-suite laundry, and units have one parking spot included. At this time (Jan 2012) no additional parking spots were available for rent, although a neighbouring condo complex WAS renting out a few stalls to owners of Chimney Ridge Condominiums.
Amenities of Chimney Ridge Condominiums
This condominium is a bare-bones condo. No pool, fitness room or other amenities, which helps to keep the condo fees nice and low. Of special note is the fact that the main floor units feature a small yard, while the upper condos have a balcony. All units have central furnace and c/air conditioners.
Located right on a bus route of Pembina Hwy, and just south of the University of Manitoba, this condo complex has become very popular with students and property investors who are looking to purchase the units and rent them out.
During the 2 yr period of 2010-2011, condos at Chimney Ridge have sold for between $170,000 and $190,000 (MLS® stats). Looking at sales in 2016, prices have remained fairly stable, with units selling btw $160K and $187K.
Townhouse condos are a great real estate investment. Here’s why. https://t.co/MS7WzwMfd3
— Zia Abbas (@condoonlycom) December 1, 2016
If you’re in the market to buy a condo, whether at Chimney Ridge Condominiums or anywhere else, please click on Condo Finder Form. If you’re thinking of selling your condo, anywhere in the city, please go to my Free Market Evaluation Form.