$1,299,000
20 ELLIOTT Street
Beds
20
Baths
—
Sqft
—
Year
1901
Type
Multi-family
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Cambridge. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
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:65958)
- Subtype
- Multi-family
- Community
- 21 - Glenview, Lincoln, Oak
- Common interest
- Freehold
- Living area
- 5,600 square feet
- Lot size
- 0.73 acres
- Lot dimensions
- 0.73
- Parking
- 20 total
- Stories
- 2
- On market
- Mar 7, 2026
- Status changed
- Apr 22, 2026
- Annual tax
- $6,732
- Zoning
- N3
- Photos
- 29
- MLS#
- 40807254
- Area
- CAMBRIDGE
Features and systems
Parking
Basement
Heating
Cooling
Exterior
Construction
Foundation
Lot
Community
Cash on cash
-6.42%
Cap rate
3.58%
GRM
16.7
Break-even rent
$7,963
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 22, 2026.