6308 Jefferson Mill Rd Scottsville, VA 24590
- Residential income homes
- 289.40 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 6308 Jefferson Mill Rd
- Year built
- 2014
- Lot size
- 289.40 lot acres
- Property type
- Residential income homes
Description
Exceptional investment opportunity in Scottsville, VA, featuring a 289.4-acre community of nine single-family homes and fifteen buildable lots (five finished, eleven permitted by-right). Built in 2014, this meticulously planned development boasts nine similar homes, each offering 2,100-3,000 square feet of living space, 4-5 bedrooms, 2.5-3.5 bathrooms, a two-car attached garage, a 20x12 deck, and an 1,100 square foot unfinished walk-out basement. Homes feature hardi-plank siding. The property is conveniently located minutes from both the Mount Ida Reserve Tasting Room & Tap House and downtown Charlottesville. Existing infrastructure includes underground electric and fiber. This property presents a unique opportunity for both long-term and short-term rental income generation. Historical data indicates annual income of $228,000 from long-term rentals and $288,000 from short-term rentals, with weekend stays averaging $3,000. The potential for additional development significantly enhances the investment's upside. The asking price is $7,600,000. This is a rare opportunity to acquire a thriving rental community with significant expansion potential within a desirable location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scottsville
- County
- Albemarle
- State
- Virginia
- Longitude
- -78.4586541
- Latitude
- 37.8595214
