Here is a wonderful opportunity to take over a pre-existing development. Mount Vernon Estates is Act 250 permitted for 48 units with 6 being completed and sold leaving 42 units to be developed. This site offers gorgeous westerly views of Lake Memphremagog, Downtown Newport, Jay Peak & Owls Head. It is an exceptional location being less than 1 mile to the Lake, Downtown Newport, Gardner Park, the Newport Country Club and so much more. The development has infrastructure in place including a town maintained paved road, public water & sewer, underground power, telephone and cable, and stormwater systems. Land Use & Water & Waste Water Permits are on file as are the all of the condo documents. Land is held in Common as part of the association. Property has frontage on Mt. Vernon, Pepin Drive, Fern St, Richards Drive, Weaver St, and the Glen Road. Road frontage listed is estimated. At $575K and 42 units remaining, you are looking at a purchase price under $14K per unit. Opportunities such as this are few and far between!

More Info

Basic Information

Date Listed01/04/2023
StatusACT
List Price$575,000
MLS Number4940081
MLS StatusActive

Utilities

Power CompanyVT Electric
WaterPublic
ElectricOn-Site
SewerPublic
UtilitiesCable - At Site, High Speed Intrnt -Avail

Water Body

Water Body NameMemphremagog Lake
Water Body TypeLake
Water ViewYes

Location

StreetPepin Drive
TownNewport City
StateVT
Zip05855
SubdivisionMount Vernon Estates
CountyOrleans
Flood ZoneNo
DistrictNorth Country Supervisory Union
Elementary SchoolNewport City Elementary
Junior HighNorth Country Junior High
High SchoolNorth Country Union High Sch

Other

Taxes$2,314.64
Tax Yr2022-2023
SurveyedYes
ZoningRES ACLNDV MDL-00
Permit StatusState - Issued
View Count3

Property

Acreage18.6
ExposureWest
Area
- Near ATV Trail
- Near Country Club
- Near Golf Course
- Near Hospital
- Near Shopping
- Near Skiing
- Near Snowmobile Trails
Square Feet810,216
CurrentUseDevelopment Potential, Residential
Road Frontage1600
RoadsDead End, Paved, Public
Topography
- Condo Development
- Mountain View
- Recreational
- Sloping
- View
- Water View

Copyright 2023 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated June 7, 2023 10:53 PM EDT

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