Income-Producing Asset + Large-Scale Redevelopment Upside – Downtown Galt 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. (id:47421)
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Detailed Information
Lot
272 x 162 ft
Amenities Nearby
Airport, Hospital, Public Transit, Schools
Communication Type
Fiber
Listing Contract Date
2026-03-07
Location Description
Ainslie to Elliott on left.
Ownership Type
Freehold
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
N3
Building
Basement Type
None
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Land
Total Size
0.73 acres
Amenities
Airport, Hospital, Public Transit, Schools
Sewer
Municipal sewage system
Size of Irregular Land
0.73
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