Known as Mount Ida, Virginia’s most expensive home offers plenty of potential—for $55 million.

The property in Scottsville includes an amazing 2,928 acres and the existing structures.

“Essentially, Mount Ida is a contiguous tract of land that is special in a lot of ways. It doesn’t have any conservation easements, which really gives the property a broad stroke for any type of development,” says listing agent Daniel Heider, with TTR Sotheby’s International Realty.

At the end of a private and historic road, the property features two large manor houses, stables, entertainment lodges, and much, much more.

The sellers have poured $100 million into the property, bringing Wi-Fi to every part of the property, updating mechanicals, and adding structures and amenities, including a go-kart track, according to Heider.

“It is the most breathtaking tract of land available in the Commonwealth of Virginia, which is why it’s one of the most expensive. But truly, at the end of the day, it’s a great value based on what’s been invested there,” he says.

Other highlights include a 250-seat restaurant, a large vineyard, and a tasting room, as well as a craft beer brewery that uses barley from a 7-acre barley field.

“Everything conveys with the $55 million price: the farm equipment, the furniture in the house, everything with the exception of a few personal family items,” Heider explains.

The 12,000-square-foot main manor house “has the vineyard and the water in front of it with a big fountain. While it’s historic, it has been completely renovated and modernized. It is really the headliner of the entire offering,” the agent says.

The smaller manor house is named Mount Pleasant and dates to the Thomas Jefferson era. The red-brick exterior features a Jeffersonian porch with stately columns.

“This is a private family compound that very recently started to allow weddings, built the tasting room, and started a little bit more of a commercial venture,” Heider says. “Its main purpose has always been to serve just one private family. It’s not a primary residence, but more of an incredible family retreat and compound.”

The estate used to be owned by Bernard Arnault, the third-richest man in the world and chairman and CEO of LVMH Moët Hennessy Louis Vuitton.

“It’s just like a Virginia countryman’s fantasy. You’ve got anything that you could possibly want: horseback riding, hunting, shooting, boating, wine, beer, cuisine, architecture, history, unique provenance, mountain views,” Heider says. “It’s a jewel. We call it the crown jewel of the commonwealth.”

Besides the wine and events business, another revenue-generating part of the property is a portfolio of 19 rental units on the outskirts of the acreage.

Since the land has no restrictions, Heider says a new owner could come in and add to it.

The buyer will be “someone who values the level of stewardship that has been invested over the years that my client has owned the property and the level of detail that he’s maintained. You don’t find anything at Mount Ida that squeaks or is rusted. There is a ton of flexibility.”

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