Homes in the treasured Rico Lake community don't come on the market often, but here is your opportunity to grab one. This home is one of the more spacious ones and sits on one of the community's largest lots. Views from the expansive front porch, and from other rooms, are priceless. There is a boathouse on the lake and two small outbuildings. Home is being sold as-is, no disclosure. Rico Lake is a private, gated community in Chatt Hills, a city unlike any other due to its commitment to preserving 70% of the city's land. Rico Lake was founded in the 1040s as a weekend fish camp, and it retains that unique charm today. A single lane road circles the lake and feels more like a private driveway. There is a community park along with wooded trails meandering through unique rock formations and untouched nature areas. The 30 lakefront lots are leased, so the buyer will obtain a leasehold interest in the land and fee title to the improvements. Cash sale only; no mortgages due to the leased lot. Buyer will be required to purchase one share of stock in Rico Corp at closing and become a shareholder (one of only 30). Rico Lake is tucked in the woods, but dining/social opportunities are only several miles away in Serenbe. Chatt Hills features a number of small farms with farm stands, animal experiences and goodies. The city's parks, like Cochran Mill and New Riverlands, are tops! Please contact the listing agent, who is also a shareholder, with any questions or concerns about this unique style of ownership. It isn't for everyone, but may be perfect for you! Showings are by appointment only. Rico Corporation governing documents are available to prospective purchasers upon request.
Property Details
- Interior
- Master On Main Level
- Cooling
- Ceiling Fan(s),Central Air,Electric,Heat Pump
- Heating
- Central,Electric,Heat Pump
- Cooling Features
- Ceiling Fan(s),Central Air,Electric,Heat Pump
- Bedrooms
- 2
- Bathrooms
- 1.5
- Full Baths
- 1
- Half Baths
- 1
- Bedrooms on Main Level
- 2
- View
- Lake
- Lot Features
- Sloped
- Stories
- 1
- Lot Description
- Sloped
- Exterior Features
- Dock
- Exterior Materials
- Dock
- Acres
- 1.5
- Square Feet
- 1593
- Parking Features
- Parking Pad, RV/Boat Parking
- Parking
- Parking Pad,RV/Boat Parking
- Property Type
- Purchase
- Style
- Bungalow/Cottage,Country/Rustic,Ranch
- Basement
- 1
- Basement Description
- Crawl Space,Dirt Floor,Partial,Unfinished
- Basement Finished
- 1
- Year Built
- 1960
- Foundation
- Block,Pillar/Post/Pier
- Roof
- Metal
- Sewer Information
- Septic Tank
- Utility Source
- Well
- Utility Features
- Electricity Available,High Speed Internet,Phone Available
- Appliances
- Dishwasher,Electric Water Heater,Oven/Range (Combo),Refrigerator
- Subdivision
- Rico Lake
- Community Features
- Gated,Lake,Park
- Elementary School
- Palmetto
- Middle School
- Bear Creek
- High School
- Creekside
- County
- Fulton
- Region
- Chattahoochee Hills
- Original List Price
- $345,000
- Days on Market (Cumulative)
- 18
- Taxes Annual
- $1,471
- HOA
- 1
- HOA Fees
- 1350
Location
Legal
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Provided By
Listed by Dawn Scarbrough (#SCARBROUGHDA)
Listing Office: REMAX Concierge (#RCON01)
