Dundee Hill AVA Vineyard

Highly-ranked small vineyard in the heart of Oregon’s “Hot Spot”

Click photos for larger images

	Site This 5 acre parcel with 4.5 acres of tightly spaced Pinot noir is located in the heart of Oregon’s prized Pinot noir country. It is owned and was developed by renowned Oregon pacesetter Gary Andrus of Archery Summit and Gypsy Dancer fame. A recent bottling, the Gypsy Dancer 2005 A & G Vineyard, was ranked a 95 from the Wine Enthusiast (see rating) and designated a “Cellar Selection.”
	Land The offering consists of a total of 5 acres with 4.5 planted to Pinot noir, starting in 1998. The vines are planted on a 1 meter by 1.2 meter spacing with the goal of providing high quality fruit with normal or slightly above normal yields. The vines are irrigated, planted on phylloxera resistant rootstock and consist of 667, 777, 115 and Pommard clones to produce complexity. The land is south sloping from 540’ elevation down to 480’ and, typical of the Dundee Hill, is comprised of Jory soil, a deep red silty-clay loam over volcanic basalt. The fruit has gone into Gypsy Dancer wines and a previous owner’s private bottling, so the vineyard hasn’t kicked out a meaningful P&L. For the last 3 years, the yields have ranged between 9 and 12.5 tons, or 2-2.78 tons per acre. The wine mentioned above is selling out for $60/bottle. The 100x rule of thumb would produce per ton value of $6,000, or $12,000 to $16,680 per acre. Depending upon the time of closing, the buyer can reimburse the seller for current year cultural costs and have the crop, or the seller will keep the current year’s crop and a buyer can take possession upon harvest.
	Improvements There is a modest 1,232 sq. ft. house with attached garage, three bedrooms and one bath; built in 1976, with some updates. The good news is there isn’t a lot of value tied up in the house. Currently, it rents for $850/month. A strong well feeds a 3,500 gallon cistern. All but the homesite footprint and roadways are planted to grapes.
	Zoning The owner believes the parcel is zoned Rural Residential and cannot be further divided. A winery could only be allowed with conditional use permit. This is being verified. Location The property is at 9653 NE Keyes Lane, Dundee, OR 97115. From Dundee, take Worden Hill Road, (the route to Erath, Lange, Torii Mor and many more wineries), turn right on Fairview Road, right again on Red Hills Road, follow about .2 miles to turn left on Keyes Lane; second property on the left. Do not disturb the tenants. Price $700,000. Tenants must have minimum 30-day notice. Depending upon the time of closing, the buyer can reimburse the seller for current year cultural costs and have the crop, or the seller will keep the current year’s crop and a buyer can take possession upon harvest.