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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

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6308 JEFFERSON MILL RD Scottsville, VA 24590

Key Details

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6308 JEFFERSON MILL RD