20 ELLIOTT Street
Cambridge, Ontario
20 bed • Multi-family
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.
Price History
Property
- Lot Size
- 0.73 acres
Schools
Elementary
- Central Public School0.6 km
Public · Waterloo Region DSB · 255 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 38% met the provincial standard
- St Andrew's Public School0.7 km
Public · Waterloo Region DSB · 335 students
- Stewart Avenue Public School0.9 km
Public · Waterloo Region DSB · 510 students
Grade 3 reading: 52% met the provincial standard · Grade 6 math: 55% met the provincial standard
Secondary
- Glenview Park Secondary School0.9 km
Public · Waterloo Region DSB · 1055 students
Grade 10 literacy: 85% met the provincial standard
- Monsignor Doyle Catholic Secondary School1.8 km
Catholic · Waterloo CDSB · 1115 students
Grade 10 literacy: 92% met the provincial standard
- Galt Collegiate and Vocational Institute1.8 km
Public · Waterloo Region DSB · 960 students
Grade 10 literacy: 83% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N1R
- Population
- 42,928
- Private dwellings
- 18,081
- Median age
- 40.8
- Average household size
- 2.5
- Median household income
- $77,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Cambridge · last 12 months
- Median sold price
- $675,000
- Homes sold
- 1,255
- Median days on market
- 19
- Sale-to-list price
- 100.6%
Based on 1,255 recorded sales of multi-family properties in Cambridge over the last 12 months.
Location
Mortgage Calculator
$259,800
Estimated Monthly Payment
$6,382
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $6,382/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $325/mo
Estimates only. Consult a financial advisor.
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