Charlottesville Investment Properties | Rentals,Flips,Commercial & Land

Real Estate Investing In The Charlottesville Area

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Investment property demand in Charlottesville remains strong despite COVID and declining cap rates. Investors see the Charlottesville market as stable with a lot of upside for appreciation. Inventory for rentals like small multi-family properties are very low driving up prices and reducing investor cash flow potential. Charlottesville is currently seeing cap rates between 4-6% depending on the location and asset class. Class A properties in locations near the University of Virginia or the Charlottesville Downtown Pedestrian mall see caps around 4%. Class B properties needing some upgrades and being located just outside of the UVA area are currently trading at 5-6% cap rates.

Investors in the Charlottesville and Albemarle markets need to get creative to find residential investment opportunities. Inventory is very low, forcing investors to convert properties from commercial to residential use. Developers and investors are buying land to develop residential and multi-family properties. The Charlottesville office and retail market has taken a hit with more people working remotely and some businesses needing to regroup. This creates the opportunity for investors to repurpose retail and office space into residential apartments.

Local zoning offices in Charlottesville and Albemarle remain behind in processing building permits. This has increased developer carrying costs and time frames for construction. Local contractors remain backlogged and very busy with most 6 months to 2 years out for new projects. Slow permitting, busy contractors and supply chain issues are changing the way investors look at the Charlottesville and Albemarle markets. Today the investment mindset is long term hold with few investors looking for short term deals.

REAL ESTATE AS AN INVESTMENT

Making the choice to invest in residential real estate is an excellent way to diversify and grow your net worth, if it is done correctly. Besides providing a steady cash flow and amazing tax benefits, investing in real estate also provides a sense of security that is simply unmatched in other investments. Real estate is ever-accessible, appreciable, depreciable, leverageable, improvable, deductible, deferrable and stable; however, for you as an investor, the most important thing real estate can be is rentable.

BUYING RENTAL PROPERTIES

At Town Realty, we understand the rental property business from an investor’s perspective, and we have the tools you need to be successful in your pursuits. Our goal is to find you an excellent investment that promises a positive return in every area. Best of all, our team is prepared to help you every step of the way. At Town Realty we believe real estate to be the most “able” investment in today’s economy, and our proven processes lead to amazing results.

WE ARE AGENTS AND INVESTORS

With Town Realty, you are not just dealing with just a residential realtor, we are also active investors in multiple Charlottesville rental properties and have been successful in “flipping” local properties. Our Realtors will use our experience to focus on an immediate equity gain upon the acquisition of a rental property. This goal is put in place to ensure sufficient cash flow to sustain the returns you need for success. Additionally, our agents are ready and willing to help you select the right piece of real estate for your needs, as well as one that is sure to appeal to the rental market of Charlottesville at large.

HIGHER EXPECTATIONS FOR A REAL ESTATE AGENT

We always work to meet both your short-term and long-term financial needs during the acquisition process. Besides considering the base price of the property, our knowledgeable Realtors also look at things such as property taxes, maintenance costs and other factors that impact your initial investment into the residence. Further, Town’s Realty ability to provide advanced financial projections based on current market trends allows you to see the big picture before purchasing a property. This is an invaluable tool that ensures success and meets our goal to help you become a sophisticated investor and grow your financial wealth.

Whether you seek your first investment property or you are looking to expand your existing portfolio, Town’s Realty resources are unmatched. With lenders, contractors and property managers in our network, all of the information you need is at your fingertips. We share the fundamental truths of real estate investment with our clients, and we are happy to share the models that schooled investors use; together, these factors allow even novice investors to feel comfortable with the process. For seasoned real estate investors, Town’s Realty advanced analytics help you target lucrative properties in niche markets – a precious tool for the continued growth of an investment business. The unrivaled tax benefits of depreciations, deductions and exchanges await in Charlottesville’s rentable real estate market, and with Town’s Realty help, your success is immanent.

OPPORTUNITIES IN THE CHARLOTTESVILLE AREA: STUDENT RENTALS

When it comes to the rental market in Charlottesville, options are bountiful. This town is largely based around the University of Virginia, and as such, there is a high need for residential rentals to accommodate students. There are just under 24,000 students enrolled at UVA, and of this number, approximately 41 percent live on the campus. While there are some students that live at home in the area, this leaves a significant portion of the student body that is in need of off-campus rental housing. This factor alone presents a huge opportunity for the area’s real estate investors. Further, the stability of the university means that there will always be a steady flow of students – and even faculty members – looking for affordable rental housing in the University region.

Investors looking at neighborhoods around the UVA campus have numerous property options, including single-family homes, townhouses and even apartment complexes.

LIVABILITY AND A STRONG ECONOMY

Students are just one sector of the rental market in the greater Charlottesville area. This region is known for its livability, and, in fact, has received numerous accolades, including the “Most Exciting Place in Virginia” by Movoto Real Estate, the “Best College Town in America” by Traveler’s Today, one of the “Top 100 Places to Live” by Livability.com, one of “America’s Favorite Mountain Towns” by Travel + Leisure Magazine, and the list goes on. The draw of Charlottesville is undeniable, and this brings in a steady flow of new residents on a regular basis. Budding professionals and families are drawn to the stable work environment and ever-changing environment Charlottesville presents, while retirees are drawn to the scenic beauty and easy lifestyle offered by Charlottesville and Albemarle County. The great variety of residents, and the options they seek, means excellent things for the rental market in the greater Charlottesville area.

INVESTING OUTSIDE OF THE CITY

The investment properties do not end at the city lines, and renters are bountiful throughout the 29 North region, as well. In 29 North, the beauty of the country combines with fantastic access to surrounding communities and a number of the county’s most prominent employers. Big-name retailers and local shops provide employment options in the retail sectors; however, the major draws for the area include General Electric, the Defense Intelligence Agency and the National Ground Intelligence Center. There is also an airport in town that provides opportunity for residents.

Where there is employment there are incoming residents, and this gives you as a real estate investor a great chance to build your portfolio in a different, less-dense region of Albemarle County. Town’s Realty expertise in Charlottesville’s specific market trends is just one of the ways that our Realtors help you in the investment property acquisition process. Overall, it is our commitment to excellence – both ours and yours – that allows success in each and every transaction.

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Residential

10Bedroom(s)
10Bathroom(s)
33Picture(s)
4,032Sqft
Spacious 2 unit rental property near UVA and the Fontaine Research center. R-2U zoning, Currently Unit A & B are rented through July of 2023. All bedrooms include en-suite full bath. Significant investment potential. Parking is on- street and off-street adjacent to building. Call for more info and showings. The Duplex at address 2509 Plateau is also for sale by the same owner.
$800,000

107E CRESENT WAY, CHARLOTTESVILLE, Virginia 22911

Residential

4Bedroom(s)
2Bathroom(s)
19Picture(s)
2,083Sqft
FINAL STRAUSS floorplan available for late Spring '23 move-in at Proffit Road Towns, Charlottesville's newest & most affordable new home community! Featuring 4 bed, 3.5 baths, 2 car garage and rear deck all included.
$387,365

107D CRESENT WAY, CHARLOTTESVILLE, Virginia 22911

Residential

3Bedroom(s)
2Bathroom(s)
20Picture(s)
1,741Sqft
END UNIT Mozart floorplan available for late Spring '23 move-in at Proffit Road Towns, Charlottesville's newest & most affordable new home community! Featuring 3 bed, 2.5 baths, 2 car garage and rear deck all included.
$364,990

107A CRESCENT WAY, CHARLOTTESVILLE, Virginia 22911

Residential

3Bedroom(s)
2Bathroom(s)
18Picture(s)
1,581Sqft
END UNIT Beethoven floorplan available for late Spring '23 move-in at Proffit Road Towns, Charlottesville's newest & most affordable new home community! Featuring 3 bed, 2.5 baths, 1 car garage, dedicated storage section and rear deck all included.
$344,990

1514 CHERRY AVE, CHARLOTTESVILLE, Virginia 22903

Residential

2Bedroom(s)
1Bathroom(s)
28Picture(s)
960Sqft
Highly sought after, convenient Cherry Avenue location that offers quick access to UVA, downtown, Wegmans at 5th Street Station & I64. This 2-bedroom, 1-full bath rancher is an exciting opportunity for an investor or buyer open to purchasing a fixer-upper. This home is in need of renovation. Work with the existing 2-bedroom, 1-full bath floor plan or use your vision to create a new layout.
$250,000

TBD VIEWMONT CT, CHARLOTTESVILLE, Virginia 22911

Land

1Picture(s)
1.03Acre
Rare elevated lot so close to town! With easy convenience to Downtown, Martha Jefferson Hospital and I-64 this may be the ideal location for you. This lovely wooded lot is tucked in a neighborhood with solid homes, no HOA and the ideal combination of privacy and access. Bring your own builder or hold for later! A stone's throw from Ashcroft without the HOA restrictions and dues.
$179,900

5408 CORY CT, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
2Bathroom(s)
24Picture(s)
2,106Sqft
This wonderful colonial 4 bedroom, 2.5 bath home is located on a quiet cul-de-sac in the small and ultra-convenient neighborhood of Cory Farms, just minutes from local Crozet conveniences and a quick drive to Charlottesville or hop to 64.
$515,000

13 B BRINDLE LN, CHARLOTTESVILLE, Virginia 22911

Residential

3Bedroom(s)
2Bathroom(s)
24Picture(s)
1,915Sqft
Now Selling for Spring 2023 Deliveries! Introducing The Poplar Townhome in Proffit Terrace, a NEW community located near the airport, NGIC, grocery stores, schools, and restaurants on Route 29 North.
$414,880

351 QUARRY RD, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
3Bathroom(s)
37Picture(s)
2,267Sqft
Well maintained townhome close to all things C-Ville. Open floor play main level features high ceilings, gas fireplace, built in bookshelves, hardwood floors throughout, and deck. Finished basement with full bath, bonus room, and patio. Easy access to Interstate 64, Route 20, and Downtown Charlottesville. A short distance from Monticello walking trail.
$415,000

2327 JERSEY PINE RDG, CHARLOTTESVILLE, Virginia 22911

Residential

5Bedroom(s)
3Bathroom(s)
45Picture(s)
3,490Sqft
This move-in ready home located in the Riverwood neighborhood close to NGIC, CHO and tons of shopping and dining options has a lot to offer including a spacious floor plan, 2-car garage, mostly finished basement, rear deck for entertaining and more! As you enter, you are greeted by a home office space boasting a full wall of built-in shelves, a half bath, family room with a beautiful stone surroun
$565,000

13 MARIE CURIE CT, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
2Bathroom(s)
53Picture(s)
2,075Sqft
Introducing Galaxie Farm! Semi-custom homes minutes from Downtown, UVa, I-64, Wegmans, Monticello, Carters Mountain and so much more. The Chesapeake features a light-filled, open-concept kitchen and great room with vaulted ceiling, walk-in pantry, mud room, dedicated study, 3 bedrooms including a luxurious owner's suite on the main level! 2-car garage included.
$764,900

7 MARIE CURIE CT, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
4Bathroom(s)
38Picture(s)
3,136Sqft
Introducing Galaxie Farm! Semi-custom homes minutes from Downtown, UVa, I-64, Wegmans, Monticello, Carters Mountain and so much more. The Mechum features a light-filled, open-concept kitchen and great room, walk-in pantry, mud room, dedicated study, 4 bedrooms, Jack and Jill bath, luxurious owner's suite in addition to a FINISHED 3RD FLOOR REC ROOM with optional full bath. 2-car garage included.
$834,900
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