Charlottesville Investment Properties | Rentals,Flips,Commercial & Land

Real Estate Investing In The Charlottesville Area

Table Of Contents :

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

3Bedroom(s)
2Bathroom(s)
32Picture(s)
1,843Sqft
This MOVE-IN READY 3 bedroom, 2 bath home is set on a corner lot (.45+/- acres) within the Jefferson Village neighborhood of Northern Albemarle County. Located right off of Proffit Road and convenient to Hollymead Town Center, Charlottesville/Albemarle Airport, UVA's Discovery Park, and NGIC.
$420,000

156 SPRING MOUNTAIN RD, CHARLOTTESVILLE, Virginia 22902

Residential

4Bedroom(s)
2Bathroom(s)
36Picture(s)
1,922Sqft
TIMELESS & VERSATILE builder's custom "Copperstone" design offers 1st floor family room/Master. You will love the connecting French door accented SunRoom with access to the oversize rear deck. Generous amount of storage including detached 80 SqFt storage shed.
$430,000

1112 RUGBY RD, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
3Bathroom(s)
43Picture(s)
3,811Sqft
Everyone knows this classic Charlottesville home! It has been fully renovated and taken down to studs. Everything is new - framing, insulation, windows, drywall, hardwood floors, all fixtures and finishes, roof, 2 new HVAC units, and top of the line Nivan tankless water heater. This well appointed home features a large kitchen with high end Viking appliances and an awesome 10' island.
$1,749,000

2527 HYDRAULIC RD, CHARLOTTESVILLE, Virginia 22901

Residential

2Bedroom(s)
1Bathroom(s)
14Picture(s)
860Sqft
Bring your toolbox, the unit has just been painted but is ready for new carpet and the kitchen and baths could be updated. Come by and check it out. First floor unit, great natural light, assigned parking. Included in the monthly fee is gas for heat and hot water, water and sewer, trash and basic cable. Solomon Court is well located.
$145,000

500 CRESTWOOD DR, CHARLOTTESVILLE, Virginia 22903

Residential

2Bedroom(s)
2Bathroom(s)
1,547Sqft
This beautiful University Village home located on the 5th Floor with stunning Views of Blue Ridge Mountains from every room! Great design provides Living Room with Fireplace, Study/Library with Built-in Shelving, Dining Room, Kitchen, Spacious Owner's Suite, 2nd Bedroom, 2nd Full Bath, Laundry Room, Hobby/Storage Room lots of closet space and Balcony.
$499,900

2953 SCOTTSVILLE RD, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
3Bathroom(s)
2,451Sqft
"Can you say a Paradise!" This is a very unique, move in ready, well built Home with a location that can't be beat! A great future investment for the ages! Rock solid Brick Home located on 10 acres, divided into 3 separate tax map parcels. The view of Carters Mountain from the big back deck is relaxing and timeless! House has 3 bedrooms 3 full baths.
$599,000

814 SWEDE ST, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
1,907Sqft
ast chance for a FALL MOVE-IN! This Caroline END HOME is under construction in conveniently located Berkmar Overlook. Featuring maintenance-free main-level living with a 2-car garage, and included patio! Plus, an open-concept spacious great room and gourmet kitchen featuring a large island, granite counters, white cabinets, stainless steel appliances, and luxury vinyl plank flooring.
$466,430

305 PATON ST, CHARLOTTESVILLE, Virginia 22903

Multi-family

1,800Sqft
Over/Under investment opportunity in the heart of the city! Convenient to Uva hospital and downtown, off-street parking, some recent improvements, consistent rental history. Can be sold separately or with MLS#6632222.
$389,000

1025 GROVE ST, CHARLOTTESVILLE, Virginia 22903

Multi-family

1,514Sqft
Over/Under investment opportunity in the heart of the city! Convenient to Uva hospital and downtown, ample off-street parking, some recent improvements, consistent rental history. Can be sold separately or with MLS632223.
$359,000

1661 MERIDIAN ST, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
2Bathroom(s)
1,508Sqft
Super cute AND renovated 3 bed/2 full bath home in the popular Belmont neighborhood. New kitchen, two new full baths. The full basement has a separate entrance from driveway, a finished rec room and full bath as well as unfinished space for storage/workshop.
$415,000

50 STONE MILL CT, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
2Bathroom(s)
31Picture(s)
1,771Sqft
Wonderful spacious home with 3 bedrooms and 2 1/2 baths on over 1/3 of an acre. The lot is very private and mostly wooded with open rear yard and paved driveway. This home offers an open living room with a wood-burning fireplace. Large kitchen with plenty of cabinets and countertop space plus a built-in desk.
$439,900

1025 SAINT CLAIR AVE, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
3Bathroom(s)
1,663Sqft
Darling cape cod meets modern living. A thorough, comprehensive renovation/remodel that left nothing untouched. Home has had a stunning transformation including exterior improvements of new hardiplank siding, roof, double hung windows, waterproofing, driveway, trex deck.
$592,000
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