luxury farmhouse for sale Palmyra, United States

Introducing an extraordinary opportunity to own a family compound or to develop a small community of single-family homes. Riverview Farm consists of two beautiful homes each on their own lots, an additional four finished lots, and an additional two lots permitted by-right, all nestled along the Hardware River in the heart of Albemarle County. This property is ideally situated within the exclusive 5,000-acre Mount Ida Reserve, offering unparalleled proximity to Charlottesville's finest destinations. Just minutes from the world-renowned Trump Winery and the luxurious Albemarle Estate, as well as the Tasting Room & Tap House at Mount Ida Reserve, this exceptional offering seamlessly combines investment potential with the allure of Virginia wine country. Set against a backdrop of the Hardware River with views of the blue ridge mountains, Riverview Farm provides a rare blend of tranquility and convenience, situated close to downtown Charlottesville and surrounded by some of the region's most prestigious attractions. The main home offers 3,000 square feet of completely renovated space with 4 full baths and one half bath and has been thoughtfully designed for both elegance and functionality. The guest home of 2,100 square feet, offering 4 bedrooms, 2.5 baths, an attached 2-car garage, a 20 x 12 deck, and an 1,100-square-foot unfinished walk-out basement, roughed-in for an additional bedroom and bathroom. Both homes are constructed of high quality materials offering low maintenance features such as hardiplank siding and porcelain tile flooring . This cohesive design simplifies management, making the property ideal for both residential and investment purposes. Beyond the existing homes, the assemblage includes four additional buildable lots and two by-right development rights on the remaining acreage, creating a total of 8 potential homes. Existing infrastructure, including underground electric and fiber, is already in place, streamlining future development. Riverview farm offers unmatched versatility: it can be operated as a traditional single-family home community or leveraged as a short- or long-term rental investment. The location's proximity to Mount Ida Reserve, which hosts over 50,000 annual guests, ensures consistent demand for short-term rentals. Historically, short-term rentals have proven profitable, with recent earnings for weekend stays fetching $3,000 each. Coupled with the income potential, the additional by-right development presents a unique upside for an extraordinary investment opportunity.