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This custom and private estate is in a prime location, within 20 miles of both the Homestead Resort in Hot Springs, VA and the Greenbrier Resort in White Sulphur Springs, WV. World class golfing, fishing, canoeing and other recreational opportunities abound, with the Jackson and James Rivers also nearby.
This beautiful English Tudor is nestled in a private setting, perched high on 100.17 gorgeous rolling acres with long range views of Covington and the surrounding mountains. The home offers 5,000± SF of elegant living area with high end architectural appointments, unseen in modern construction. This incredible home has been well preserved in mostly original condition. With 4 bedrooms, 4 full baths and 1 half bath on the first and second levels, there is ample room for a large family and friends. There are two additional bedrooms and another full bath in the partially finished attic. There is also a full bath in the unfinished basement. This fine home offers an abundance of entertainment and lounging areas throughout.
- The matching detached three bay garage with large apartment above is preserved in similar fashion to the home and is perfect for a farm manager residence or guest quarters.
- Other support structures include a 27 ft. x 24 ft. three-story barn and separate storage shed.
- Together, this choice 100 acre site and the high-quality improvements offer one of Virginia’s premier estates, ready for the new owner’s finishing touches.
- Carolton on the Ridge (circa 1929) is a regional landmark and will be offered in four parcels ranging from 6.07 acres to 39.98 acres and in any combination thereof, including as a whole 100.17 acre tract.
- This estate is located in a private, gated setting at the end of East Carolton Drive on Payne’s Ridge in Covington.
Take advantage of this incredible opportunity to own one of Virginia’s most stately properties!
Charles B. Nettleton was a successful businessman operating a thriving forest products and lumber business in Covington in the early twentieth century. He and his wife Carrie B. Nettleton had two daughters, Carolyn and Blakeslee. The garage-apartment was constructed circa 1927-28 and the family moved into the apartment when the main home was started. The main home was finished, complete with formal boxwood garden, reflecting pool and flowering trees, and the family moved into the home circa 1928-29. The Nettleton daughters were raised at Carolton on the Ridge, which was designed by the renowned firm Smithey & Tardy Architects & Engineers of Roanoke, Virginia.
Annual Taxes $4,736 (Tracts 1-4) Estimated by agent
Auction Tract 1 (Located mostly in Alleghany County, Virginia): Zoned AR Agricultural-Rural Residential
Auction Tracts 2-4 (City of Covington,Virginia): Zoning R-1 Residential
From Interstate 64 in Covington take Exit 16, follow signs for US 220 N/US 60-W and go Left on E. Madison St. Follow .9 mi. and go Left on S. Carpenter Dr. Follow .5 mi. under interstate and go Left on E. Carolton Dr. Follow .5 mi. and bear Right to stay on E. Carolton Dr. to its end. Continue through gated entrance at end of E. Carolton Dr. to Carolton on the Ridge.
Basic Terms & Conditions of The Auction
- REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 3:00 PM and sale starts at 4:00 PM, Wednesday November 20, 2019. Please bring a driver’s license for identification.
- TERMS OF SALE: All property is sold “AS IS, WHERE IS.” Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
- The property is being sold subject to seller confirmation and the sale will be confirmed at a minimum bid at or above $285,000 (plus 5% Buyer’s Premium).
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
- LEAD PAINT: The property was built prior to 1978 and may contain lead-based paint. A lead-paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint documents and information are available from Auction Company. Bidders will be provided a lead-paint disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspection after the auction sale.
- ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior communications, verbal and written, concerning this sale.
- BIDDING: The auctioneer will determine bid increments. The tracts may be bid upon individually and in any combination.
- BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium on real estate is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the contract sales price.
- DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sales price (high bid plus buyer’s premium) will be required on day of sale. The deposit is payable by cashier’s check or a pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. A personal check will be approved if, prior to or at the time of registration, the bidder presents a bank letter stating the bidder is a customer of the bank and that the checking account is in good standing.
- CLOSING DATE FOR REAL ESTATE: The balance of the purchase price is due at settlement on or before January 8, 2020.
- TRANSFER OF TITLE TO REAL ESTATE: The real estate will be conveyed by special warranty deed, free and clear of liens, and subject to all rights, reservations, covenants, conditions, easements, rights-of-way, and restrictions of record, as the same may lawfully apply to the Property, and to all matters which would be disclosed by a survey and inspection of the Property.
- FINANCING: The sale of the real estate is a cash transaction and is not conditioned upon the bidder obtaining financing. Bidders should arrange any necessary financing prior to registering to bid.
- BIDDER PACKET: A Bidder Packet with information regarding the real estate is available from the Auction Company and posted on our website at woltz.com.
- BROCHURE: The information contained in this brochure is subject to independent verification by prospective bidders. Neither the Auction Company nor the Seller assume any liability for its accuracy or any errors or omissions. Boundaries shown on aerial photographs are approximate. Please refer to survey in Bidder Packet for boundary locations.