UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,600 sqft
Price per Sqft $231
MLS Listing ID 40807254
Bedrooms 20
Abv Grd Liv Area 5,600
Year Built 1901
Annual Tax Amount $6,732
Lot Size 0.730 Acres
Acres 0.73
Property Sub-Type Multi Family
Source Cornerstone
Property Description
Welcome to 20 Elliott Street — a rare 0.73 (+/-) acre urban core holding overlooking historic Downtown Galt and the Grand River. Originally built in 1901 as The Hilltop Manor, this former nursing home now operates as 20+ individual residential rooms, delivering immediate income with substantial upside.
This large-format character building offers multiple high-value strategies: continue strong rooming income, reconfigure to bachelor, one- or two-bedroom units, student housing, or potential condo conversion — all within walking distance to the University of Waterloo School of Architecture.
This one of a kind site with ~271 feet of frontage and full municipal services is a standout — a scale and setting rarely available in Cambridge's urban core. Positioned in a mature neighbourhood overlooking the Grand River and steps to Downtown amenities, the property sits within a City-supported intensification area, where conversion from institutional to residential uses is encouraged.
Generate income now while advancing a future redevelopment play — potential for mid-rise residential, stacked towns, or higher-density formats (subject to approvals).
Opportunities combining cash flow, land scale, and redevelopment potential in Downtown Galt are extremely limited — this is one of them.
Location
Province ON
County Waterloo
Area 12 - Galt East
Zoning N3
Direction Ainslie to Elliott on left.
Rooms
Basement Separate Entrance, Walk-Up Access, Full, Partially Finished
Kitchen 0
Interior
Heating Natural Gas, Radiator
Cooling Wall Unit(s)
Fireplace No
Appliance Instant Hot Water
Laundry Common Area
Exterior
Parking Features Asphalt
Fence Fence - Partial
Roof Type Membrane,Shingle
Lot Frontage 271.92
Lot Depth 161.72
Garage No
Building
Lot Description Irregular Lot, Airport, City Lot, Hospital, Library, Open Spaces, Park, Place of Worship, Playground Nearby, Public Transit, Rec./Community Centre, School Bus Route, Schools, Shopping Nearby
Faces Ainslie to Elliott on left.
Story 2
Foundation Concrete Block, Poured Concrete, Stone
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 2
Structure Type Brick,Block,Stucco
New Construction No
Others
Senior Community false
Tax ID 038340051
Ownership Freehold/None
Nearby Locations
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Doug Folsetter
Sales Representative | License ID: 4729737
Sales Representative License ID: 4729737