20 Elliott Street, Cambridge, ON
Property Highlights
Welcome to this remarkable land located in the coveted neighborhood of Cambridge. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $1,299,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Premium 271.92 x 161.72 ft lot size
- Efficient water radiators heating
Description
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.
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Pricing & Value Insights
Data-driven valuation for 20 Elliott Street, Cambridge, ON N1R 2J2
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About Purchasing a Home in Cambridge, ON
For a property listed at $1,299,000 in Cambridge, the legal minimum down payment is $259,800 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $22,455 for this transaction. As this listing is in Cambridge (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $22,455.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.