$ 7,600,000
6308 JEFFERSON MILL RD Scottsville, VA 24590
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$ 7,600,000
Est. payment /mo
Active
6308 JEFFERSON MILL RD Scottsville, VA 24590
25,286 SqFt
UPDATED:
09/26/2024 11:14 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 25,286 sqft
Price per Sqft $300
MLS Listing ID VAAB2000598
Originating Board BRIGHT
Year Built 2014
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
Interior
Hot Water Other
Heating Heat Pump(s)
Cooling Central A/C
Heat Source Central
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type Other
Garage N
Building
Sewer Septic Exists
Water Well
New Construction N
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
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