Letter From The Developer
To Prospective Buyers of Keowee Mountain:
My name is Richard M. Sepler and I am the 83 old owner/developer of Keowee Mountain located in the upstate of South Carolina. Keowee Mountain consists of approximately 700 acres of which approximately 250+ acres have been developed. 150 residential lots have been sold.
The finished unsold lots total 74 with the Pickens County valuation of $2,570,000.00. * My valuation is $2,960,000.00. A recent sale of Lots 1, 2, 2a in Phase 5 sold and closed for $134,000.00. There is a pending sale of Lot 2, Phase 6 for $114,000.00. There are 4 lots in negotiations totaling in price of $165,000.00.
Waterfront, water view and mountain view lots are the most popular sellers.
The entrance gate is finished and valued at $200,000.00.
The Clubhouse is finished, furnished and valued at $1,000,000.00.
The maintenance building is finished and is valued at $100,000.00.
The miscellaneous equipment, vehicles and etc. is valued at $50,000.00.
The vacant land/planned/unplatted and unfinished is +/-500 acres and is valued at $5,000,000.00.
The total valuation exceeds $10,000,000.00. The above property is being offered for sale at $2,600,000.00 (26%).
We are proceeding non-stop to develop Phase 5 with 10 mountain view lots at $60,000.00 each for $600,000.00. Additional Phase 5 lots will be sold at $600,000.00.
In addition Phase 6 will consist of 2 lakefront lots for sale. One lot as previously stated has sold for $114,000.00. The 2 lake lots are valued to sell at $100,000.00 each for $200,000.00 and 2 water view lots at $45,000.00 each for a total of $290,000.00 in Phase 6. The total anticipated sales revenue is approximately $1,500,000.00 less development costs of $300,000.00 for a net of $1,200,000.00.
Please visit the website at www.keoweemountain.com.
If you are interested in buying Keowee Mountain please contact me.
My age makes me a motivated Seller.
RICHARD M. SEPLER