0 Pepin Drive
Newport City, VT 05855

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Details for 0 Pepin Drive, Newport City VT 05855

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! Listed by Nick Maclure & Dan Maclure of Century 21 Farm & Forest.