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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

13Bedroom(s)
11Bathroom(s)
75Picture(s)
11,562Sqft
Northfield Manor is an Entertainers Dream. High Occupancy Investment; Second Home; or Live & Work from the ideal Location. The Main Home Features 8 Bedrooms Office & Spa; 9 Full Baths & The Carriage House over Garage features 3 Bedrooms 2.5 Baths; 2 Large Vehicle Bays & Private Gym. Includes a Second Buildable Lot in rear w access from Old Brook Rd.
$2,800,000

TBD RAGGED MOUNTAIN DR, CHARLOTTESVILLE, Virginia 22903

Land

13Picture(s)
185.01Acre
Two wonderful estate parcels comprised of 185.01± acres, in coveted Ragged Mountain Farm. Excellent elevated building site, complete privacy, and beautiful views. Murray/Henley/Western school district.
$1,895,000

445 WHITE GABLES LN, CHARLOTTESVILLE, Virginia 22903

Residential

2Bedroom(s)
2Bathroom(s)
3Picture(s)
2,250Sqft
NEW PREMIER RESIDENCES IN COVETED LOCATION! White Gables II is located a short stroll from an award winning Golf Course and Resort, Sports Club and well respected Country Club.
$1,079,000

TBD SECRETARYS RD, CHARLOTTESVILLE, Virginia 22902

Land

1Picture(s)
25.78Acre
Wonderful gently rolling parcel of land with just under 26 acres, 18 miles south of Charlottesville. The land is wooded (mostly hardwoods) with an elevated building site, stream/creek, total privacy, and long road frontage. Land has been perked for up to a 5-bedroom house suitable for an engineered septic system. Well drilled in 2005 with a flow of 20 gallons per minute.
$285,000

1013 LINDEN AVE, CHARLOTTESVILLE, Virginia 22903

Residential For Sale

3Bedroom(s)
2Bathroom(s)
4Picture(s)
1,706Sqft
INCREDIBLE 3BR & 2.5BA TOWNHOUSE IN LINDEN TOWN LOFTS UNDER 315K! ENJOY ROOF TOP DECK WITH VIEWS & PRIVACY. MINUTES FROM EVERYTHING CVILLE.
$314,900

2765 GELLETLY RD, CHARLOTTESVILLE, Virginia 22902

Residential

4Bedroom(s)
4Bathroom(s)
42Picture(s)
5,700Sqft
Wonderful four bedroom and four full bathroom home is equipped with everything! Two Master Bedrooms, Multiple home office spaces, INDOOR BASKETBALL/SPORTS COURT, Home Gym, and a dedicated Game Room are at the top of the list on what this home offers the next homeowner. But, not to be overshadowed, this home sits on 3 acres of private land ideal for the outdoors lover.
$789,900

2627 PENNY LN, CHARLOTTESVILLE, Virginia 22903

Land

27Picture(s)
28.04Acre
Pristine, secluded property: 15-minute drive to the center of Charlottesville; 28-acre wooded lot, with 5 theoretical development rights; 17 acres are in mature planted pines, with the balance in a mix of mature hard woods. The Black Branch crosses under Penny Lane and runs through the northwestern section of the property. The property is being sold in its entirety.
$450,000

C1 DICK WOODS RD, CHARLOTTESVILLE, Virginia 22903

Land

12Picture(s)
11.67Acre
Lot C1 on Dick Woods Road offers an fantastic home site with mountain views and fiber optic internet. This level home site offers many possibilities for the 11+ acres. Come build your dream home in this rural setting just minutes to Crozet and all the amenities Western Albemarle has to offer.
$439,900

Lot 52A REDBUD LN, CHARLOTTESVILLE, Virginia 22911

Land

2Picture(s)
2.05Acre
Lot 1 in the redbud Subdivision - subject to HOA guidelines, and covenants. Architectural Guidelines. Unimproved property: no drainfield, well or driveway. All of which is part of the lot development to receive a home. Electric is on site.
$125,000

00 YELLOW WOOD DR, CHARLOTTESVILLE, Virginia 22901

Land

22Picture(s)
145.90Acre
145.9 acres off of Old Ballard Rd. behind the Far Hills Subdivision. 83.6 acres is the Rural Preservation Tract for the Far Hills Subdivision. This land is is harvestable pine and ornamental trees. The additional 62.3+- acres is in ornamental trees. Beautiful wooded tract on a lovely high flat area with potential for views with clearing.
$2,800,000

Lot 5 PENNWOOD FARM, CHARLOTTESVILLE, Virginia 22902

Land

14Picture(s)
6.40Acre
Lovely 6.4 acre homesite with pond and pastoral views located just 10 minutes from downtown Charlottesville. Additional acreage available.
$195,000

Lot 4 PENNWOOD FARM, CHARLOTTESVILLE, Virginia 22902

Land

14Picture(s)
5.70Acre
Gorgeous 6.7 acre homesite with pond and pastoral view located just 10 minutes from downtown Charlottesville. Additional acreage available.
$225,000
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