106 Colborne Street

Welcome to the heart of Elora, a charming village nestled within Centre Wellington. This historic detached bungalow, located at 106 Colborne Street, Centre Wellington, boasts an impressive investment potential, making it a prime house for sale in Centre Wellington . With three bedrooms and a single bathroom, this home is not only a comfortable living space but also a remarkable opportunity for those looking to invest in a high-demand area.

Situated on a generous 139 x 66 feet corner lot, this property is strategically positioned just a stone's throw from the bustling downtown area. The location of 106 Colborne Street, Centre Wellington, offers an exceptional chance for savvy investors to build a legacy or take advantage of the increasing density in the area. The house for sale in Centre Wellington presents various options for development, including the potential to sever the large parcel into two distinct lots, allowing for the construction of either two detached or semi-detached dwellings. This could significantly maximise your return in a town with limited inventory.

For those considering a more ambitious project, demolition of the existing structure may be permissible with the required approvals. This would free up the entire site for the construction of a luxurious custom home, complete with an Accessory Dwelling Unit (ADU). While you work through your development plans, the existing three-bedroom, one-bathroom home at 106 Colborne Street, Centre Wellington, offers immediate cash flow or the option for comfortable owner-occupancy.

Built in 1886, this house is rich in original charm, featuring high ceilings, hardwood floors, and large windows that flood the space with natural light. Although the home is unfurnished, it provides a blank canvas for new owners to personalise. The property also includes a detached garage and a full, unfinished basement, providing ample storage space and potential for further development. The furnace was updated in 2014, minimising immediate capital expenses for prospective buyers.

This house for sale in Centre Wellington is not just a home; it is a shovel-ready development site backed by data and a professional feasibility study that outlines a clear path to significant profit. The demand for housing in Elora is driven by its desirable location, and this corner lot is ideally situated for both short-term and long-term tenants or future buyers seeking the quintessential Elora lifestyle. Residents can enjoy leisurely strolls to the renowned Elora Mill Hotel and Spa, dine at unique local restaurants, browse charming boutiques, and access the scenic Cataract Trail and Elora Gorge within mere minutes.

In addition to its prime location, the property benefits from central air conditioning, municipal water, and sewer services, ensuring a comfortable living experience. While there is no pool or fireplace, the house offers a private driveway with parking space for two vehicles, adding to its convenience.

As you consider the possibilities that this house for sale in Centre Wellington offers, remember that the value lies not only in the home itself but also in the land and the potential for future development. The 106 Colborne Street, Centre Wellington property is a rare find in a market where opportunities like this are becoming increasingly scarce.

Seize the chance to invest in this historic home and its exceptional location before this opportunity slips away. Whether you choose to move in, rent it out, or embark on a development project, the possibilities are abundant. This house for sale in Centre Wellington truly represents a unique investment opportunity in one of Ontario's most picturesque villages.

Elora and Salem, nestled within the picturesque City of Centre Wellington, offer a charming blend of rural tranquillity and vibrant community life. Elora, renowned for its stunning natural beauty, features the breathtaking Elora Gorge, where the Grand River winds through dramatic cliffs, providing ample opportunities for outdoor activities such as hiking and kayaking. The quaint village boasts a rich history, evident in its well-preserved 19th-century architecture, boutique shops, and artisanal eateries that create a welcoming atmosphere. Salem, a smaller hamlet nearby, complements this with its serene landscapes and close-knit feel, making it an ideal retreat for those seeking a peaceful lifestyle while remaining connected to the cultural and recreational offerings of the surrounding area. Together, Elora and Salem encapsulate the essence of community living, where nature and heritage harmoniously intertwine.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Elora Public School, situated just 0.7 km away, offering a public elementary education from Junior Kindergarten to Grade 8 under the Upper Grand District School Board, with a school rating of 6.2. Another nearby option is St. Mary Catholic School, located only 0.5 km from the property, which provides a Catholic education in English for grades JK to 8, although it currently has a school rating of 0. For younger children, James McQueen Public School is 4.1 km away, offering a public French-language education for grades JK to 2, but it has not received a rating. The proximity to these schools enhances the appeal of the property, providing families with accessible educational options for their children. Whether you prefer public or Catholic education, this area offers a range of choices to suit different preferences and needs.