Introducing a unique opportunity to purchase an established, income-generating rental community of nine single-family home rentals in Albemarle County with an additional 16 homes permitted by-right. Minutes from the Tasting Room & Tap House at Mount Ida Reserve and downtown Scottsville, 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 occupies its own platted, 20-acre lot and boasts hardi-plank siding, 2,100 square feet of living space, 4 bedrooms, 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 four additional buildable lots plus another 12 development rights on the remainder of the acreage for a total of 16 additional homes that can be constructed by-right. Existing infrastructure (underground electric and fiber) are in place. The Farms at Jefferson Mill currently generates approximately $175,000 of rental revenue annually and the additional by-right development offers extensive upside for a rarified investment opportunity.
Courtesy of: TTR Sotheby's International Realty Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 6th October, 2022 3:44 AM (UTC)