Waterfront
Listed By:
TTR Sotheby's International Realty
Address
6414 Jefferson Mill Road, Scottsville, VA
Price
$ 7,600,000
Property Attributes
  • MLS#VAAB2000600
  • TypeLand
  • CountyALBEMARLE
  • CityScottsville
  • Zip24590
  • StyleMulti Residential
  • Taxes$ 4259
  • Price$ 7,600,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size289.4 Acres
Data Source:
Bright MLS
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.

Price History
4/30/2024 Listed $7,600,000

General Features

Sewer Septic Exists
Possession Immediate,Settlement
Zoning RA
Property SubType Land
Tax Year 2023
Current Use Multi Residential
Percent Ownership Fee Simple
County ALBEMARLE
Property Type Land
HOA / Comm Assn No
Water Access Y/N No
Status ACTIVE
Directions Use Google or Waze
ModificationTimestamp 2024-05-02T22:59:00
City SCOTTSVILLE
Buyer Agent Compensation 3
Lot Size Square Feet 12606264.00
Tax Assessed Value 498700.0
Waterfront Y/N No
Street Name JEFFERSON MILL
Tax Annual Amount 4259.0
Clean Green Assessed Y/N No
Price Per Sq Ft 0.6
Additional Parcels Y/N No
Vacation Rental Y/N No
Days on Market 4
Standard Status Active
Legal Subdivision The Farms at Jefferson Mill
Tax Lot 34C7
Buyer Agent Compensation Type % Of Gross

Interior Features

Street Suffix ROAD

Exterior Features

Water Source Well
Water View Y/N No
Lot Size Acres 289.40
Lot Size Units Square Feet
Lot Size Source Estimated
Navigable Water Y/N No
Water Oriented Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Land Average in 24590

Price
AVG $5.25M
$7.6M
Taxes
AVG $4,266
$4,259
Visits
AVG 205
156
Data Provided by Inside Real Estate®

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.

Download iOS Download Android

Your Agent

Sean Perkins

Sean Perkins

REALTOR® BROKER

443-998-9213

Areas We Cover

Show More...