$ 7,600,000
6308 JEFFERSON MILL RD Scottsville, VA 24590
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$ 7,600,000
Est. payment /mo
Active
6308 JEFFERSON MILL RD Scottsville, VA 24590
289.4 Acres Lot
UPDATED:
09/26/2024 11:14 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID VAAB2000600
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $4,259
Tax Year 2023
Lot Size 289.400 Acres
Acres 289.4
Property Description
Introducing a unique opportunity to purchase a community of nine single-family homes and five finished lots in Albemarle County with an additional eleven lots permitted by-right. The property is included within the 5,000 acres comprising Mount Ida Reserve. Each home and lot are located within minutes of the Tasting Room & Tap House at Mount Ida Reserve and downtown Charlottesville, the Farms at Jefferson Mill is a beautiful neighborhood of colonial homes situated on over 250 acres of rolling hills with extensive road and river frontage. The homes are thoughtfully constructed with similar footprints for easy management. Each home lot boasts hardi-plank siding, 2,100 -3,000 square feet of living space, 4-5 bedrooms, 3.5-2.5 baths, attached 2 car garage, 20 x 12 deck and an 1,100 square foot unfinished walk-out basement roughed in for an additional bedroom and bathroom. In addition to the nine existing homes, the assemblage offers five additional buildable lots plus another eleven development rights on the remainder of the acreage for a total of 25 potential homes that can be constructed by-right. Existing infrastructure (underground electric and fiber) are in place. The Farms at Jefferson Mill can be operated as a single-family home community or managed as a short- or long-term rental community to serve the more than 50,000 annual guests of Mount Ida Reserve. Historically, long-term rentals generate an annual income of $228,000, while short-term rentals have proven to be more profitable, with recent annual earnings of $288,000. The demand for short-term rentals is remarkably consistent, with weekends generating $3,000 per stay. Coupled with this income, the additional by-right development offers extensive upside for a rarified investment opportunity.
Location
State VA
County Albemarle
Zoning RA
Exterior
Waterfront N
Water Access N
Garage N
Building
Sewer Septic Exists
Water Well
Schools
School District Albemarle County Public Schools
Others
Tax ID 123000000034C7
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
Listed by Daniel M Heider • TTR Sotheby's International Realty