20 Elliott Street Cambridge, Ontario N1R 2J2

$1,500,000

Open House Saturday March 14th 11am - noon. Income-Producing Multi-Residential Opportunity with Major Redevelopment Potential – Downtown Galt Welcome to 20 Elliott Street, a rare large-format investment property set on approximately 0.73 acres overlooking historic Downtown Galt and the Grand River. Originally built in 1901 and operated as The Hilltop Manor, this former nursing home has been converted into 20+ individual residential rooms, providing immediate income potential while offering significant opportunities for value-add repositioning. The substantial character building offers multiple pathways for investors, including continued rooming income, reconfiguration into bachelor, one-bedroom or two-bedroom apartment suites, student housing, or condos, ideally positioned within walking distance of the University of Waterloo School of Architecture. The expansive ¾-acre site with approximately 271 feet of frontage and full municipal services is a rare offering within Cambridge’s urban core. Located in a mature neighbourhood overlooking the Grand River and steps from Downtown amenities, the property sits within an area the City has identified for future residential intensification, where conversion from institutional uses to residential forms are supported. Investors may choose to generate income while exploring future redevelopment possibilities, which could include mid-rise residential, stacked townhouses, or other higher-density residential forms (subject to planning approvals). Properties combining existing income, large urban land scale, and long-term redevelopment potential are exceptionally rare in Downtown Galt’s rapidly evolving urban core. (id:49269)

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https://www.realtor.ca/real-estate/29442144/20-elliott-street-cambridge