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$649,900Asking Price

106 Colborne Street, Centre Wellington, ON N0B 1S0

Elora/Salem, Centre Wellington

Detached
3
Bedrooms
1
Bath
3
Parking
Day on Market

Welcome to the heart of Elora, Ontario's most picturesque village. This historic and charming 3 bedroom home has exceptional investment potential. Strategically positioned on a 69' x 138' corner lot, just steps to downtown, it offers the savvy investor an incredible opportunity to build a legacy or capitalize on high-demand density. Build, Hold, or Sever - In a high-demand, high-income market, the property's value is in the land and the density upside. A Professional Feasibility Study is available outlining a clear path to significant profit. Explore a Minor Variance or pursue R2 Rezoning to sever this large parcel into two distinct lots. This allows for the construction of two detached or semi-detached dwellings, maximizing your return in a town with tight inventory. Alternatively, demolition may be permissible (with required approvals), which frees the entire site for the construction of one large, luxury custom home plus an Accessory Dwelling Unit (ADU). While you finalize your development plans, the existing 3-bed, 1-bath home offers immediate cash flow or comfortable owner-occupancy. This 1886-built home is full of original charm: high ceilings, hardwood floors and trim, and large windows. It also features a detached garage, a dry basement with ample storage, and a furnace updated in 2014, minimizing immediate capital expenses. Move in or rent it out while you work through the planning process. Location drives demand in Elora and this corner lot is perfectly placed for tenants (both short and long term) or future buyers who want the quintessential Elora lifestyle: strolling to the famous Elora Mill Hotel and Spa, dining at unique local restaurants, browsing boutiques, and accessing the scenic Cataract Trail and Elora Gorge within minutes. 106 Colborne Street is not just a home; it's a shovel-ready development site backed by data. Capitalize on the desirability of Elora now before this opportunity is gone.

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Welcome to the heart of Elora, Ontario's most picturesque village. This historic and charming 3 bedroom home has exceptional investment potential. Strategically positioned on a 69' x 138' corner lot, just steps to downtown, it offers the savvy investor an incredible opportunity to build a legacy or capitalize on high-demand density. Build, Hold, or Sever - In a high-demand, high-income market, the property's value is in the land and the density upside. A Professional Feasibility Study is available outlining a clear path to significant profit. Explore a Minor Variance or pursue R2 Rezoning to sever this large parcel into two distinct lots. This allows for the construction of two detached or semi-detached dwellings, maximizing your return in a town with tight inventory. Alternatively, demolition may be permissible (with required approvals), which frees the entire site for the construction of one large, luxury custom home plus an Accessory Dwelling Unit (ADU). While you finalize your development plans, the existing 3-bed, 1-bath home offers immediate cash flow or comfortable owner-occupancy. This 1886-built home is full of original charm: high ceilings, hardwood floors and trim, and large windows. It also features a detached garage, a dry basement with ample storage, and a furnace updated in 2014, minimizing immediate capital expenses. Move in or rent it out while you work through the planning process. Location drives demand in Elora and this corner lot is perfectly placed for tenants (both short and long term) or future buyers who want the quintessential Elora lifestyle: strolling to the famous Elora Mill Hotel and Spa, dining at unique local restaurants, browsing boutiques, and accessing the scenic Cataract Trail and Elora Gorge within minutes. 106 Colborne Street is not just a home; it's a shovel-ready development site backed by data. Capitalize on the desirability of Elora now before this opportunity is gone.

Key Info

  • Bungalow Detached
  • 2-Car Driveway
  • 1-Car Detached Garage
  • N Queen St
  • 1100-1500 Approximate Sq Feet
  • 100+ Years Approximate Age
  • Basement: Full, Unfinished
  • 1 Kitchen
  • Forced Air Gas Heating
  • Central Air

Property

  • Lot Size 139.32 x 66.14 Feet
  • < .50 Acreage
  • Brick Exterior
  • Taxes were $4,850 in 2025
  • Possession: 30-60 Days Ideally

Details

  • No Fireplace
  • No Family Room
  • Sewers
  • Municipal Water
  •  
  • MLS #X12474931
  • Chestnut Park Realty (Southwestern Ontario) Ltd

Extras

Room Floor Dimensions Details
1 Foyer Main 14.99' x 7.58'
2 Bathroom Main 7.58' x 10.53' 4-PieceBath
3 Kitchen Main 10.53' x 9.91'
Washroom1 4-Piece Bathroom on Main Floor

Who lives here?

Elora/Salem, Centre Wellington is a west GTA neighbourhood notable for its university grads, executives and business and education, law & public sector professionals. Residents tend to be older with a significant number of kids aged 10 to 14, youth aged 15 to 19, adults aged 40 to 59 and seniors aged 70 to 74.

Families

Kids Per Family

1.0

kids per family
in the neighbourhood.

Centre Wellington  (1.0)

Singles

35% of residents are
single and loving it.

35% singles

Centre Wellington (36%)

Renters

14% of residents
are renters.

14% renters

Centre Wellington (18%)

Education

31% of residents are
university grads.

31% university grads

Centre Wellington (26%)

Income

Average Household Income

$129K

is the average household
income in the neighbourhood.

Centre Wellington  ($118K)

Professions

Professions

Sales 13%
Trades 11%
Business 9%
Government 8%
Management 8%

Immigrants

9% of residents were
born outside of Canada.

9% immigrants

Centre Wellington (10%)

Birthplace - All

UK was once home to 3.9% of immigrants.
Netherlands 1.3%
Germany 0.7%
USA 0.6%
Ireland 0.5%

3.9% from UK
All-time

Birthplace - Recent

UK was once home to 0.4% of immigrants.
USA 0.1%
Other South America 0.1%
Southern Africa 0.1%

0.4% from UK
Recent

Foreign Languages

Foreign Languages

German 2%
Dutch 1%
French 1%

Religions

Religions

Christian 76%