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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Land

10Picture(s)
21.29Acre
In Today's Busy World - Live to unwind & enjoy nature on this Cul-de-sac lot. Blandemar Farm Estates is one of the most beautiful & serene neighborhoods in the East coast. Gently rolling roads, glistening lake, stunning mountain views & peaceful nature are all offered in this upscale community.
$440,000

BLANDEMAR DR, CHARLOTTESVILLE, Virginia 22903

Land

8Picture(s)
23.90Acre
In Today's Busy World - Live to unwind & enjoy nature on this peaceful mountain top. Blandemar Farm Estates is one of the most beautiful & serene neighborhoods in the East coast. Gently rolling roads, glistening lake, stunning mountain views & peaceful nature are all offered in this upscale community.
$390,000

Lot 4 DAVENTRY LN, CHARLOTTESVILLE, Virginia 22911

Land

15Picture(s)
2.11Acre
Proffit Ridge is an established, distinctive Albemarle County neighborhood offering a unique combination of stately, classic homes in a neighborhood setting while offering individual privacy as well! 2-7 acre parcels, steps from Baker-Butler Elementary & moments from the extensive amenities of Hollymead Town Center. Location offers quick access to the airport & all points north.
$195,000

ARLANDA LN, CHARLOTTESVILLE, Virginia 22911

Land

3Picture(s)
2.01Acre
2.01 acre building lot just off Proffit Road. Property has been perked for a 3 bedroom home. Fully wooded. Creek runs through property. Conveniently located off Rt. 29 North in Albemarle.
$92,500

EDNAM DR, CHARLOTTESVILLE, Virginia 22903

Land

1Picture(s)
1.54Acre
Wonderfully large 1.5+ acre building lot in Ednam Forest. Build your dream home on this elevated, wooded lot located in a great community, minutes from UVA and within walking distance to Boar's Head.
$289,500

218 WATER ST, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
3Bathroom(s)
32Picture(s)
3,602Sqft
This extraordinary penthouse condo is the embodiment of city living in Charlottesville. The floor to ceiling windows have northern views over the Historic Downtown Mall as well as southern views of the Blue Ridge Mountains. With 3,748 square feet of customizable interior space, this “core and shell” unit leaves no limits but your imagination in design.
$2,130,000

218 WATER ST, CHARLOTTESVILLE, Virginia 22902

Residential

4Bedroom(s)
3Bathroom(s)
47Picture(s)
4,580Sqft
See Downtown Charlottesville as it was meant to be seen, from the premium penthouse of The Residences at 218. Boasting southern facing 270 degree views, over 4,500 square feet of interior space, and unparalleled 2,063 square feet of outdoor living space on the terrace, suite 802 makes it easy to imagine your new Downtown luxury lifestyle.
$2,872,800

977 WOODLANDS RD, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
2Bathroom(s)
31Picture(s)
3,349Sqft
Remarkably large parcel located conveniently to Charlottesville and the University of Virginia as well as the shopping conveniences and airport on 29 North. Exceptional Blue Ridge views, charming farm house (in need of restoration), pond, and Jumping Branch, a clear stream traversing the property. Under VOF easement, but with divisions into already predetermined parcels.
$4,400,000

512 RIDGE ST, CHARLOTTESVILLE, Virginia 22902

Multi-family

9Picture(s)
1,511Sqft
Fantastic Development/Investment Potential, currently has existing over/under duplex on Ridge Street and the extra land attached is ideal for future possible construction of new apartments or townhomes. Shown by appointment only, no visits to property without agent knowledge or permission. . Access off of city street.
$1,250,000

0 RAGGED MOUNTAIN DR, CHARLOTTESVILLE, Virginia 22903

Land

25Picture(s)
3.02Acre
Build your dream home in the sought after Ragged Mountain Farm neighborhood. Ivy Creek runs along one side of the property- a great place for your picnic table in the woods! Open yard for play and gardening. Located near all Charlottesville's amenities with quick access to UVA.
$365,000

329 CARRSBROOK DR, CHARLOTTESVILLE, Virginia 22901

Land

1Picture(s)
1.50Acre
Established Carrsbrook subdivision. Rare opportunity to build your dream home in this desirable community in an excellent location with very few restrictions. This is a slightly elevated lot of 1.5 acres which is gently rolling and partly wooded. Public water and sewer available.
$116,000

13 OLD BALLARD FARM LN, CHARLOTTESVILLE, Virginia 22901

Land

3Picture(s)
3.21Acre
Only one lot available in the sought after Old Ballard Farm subdivision! Lovely 3.21 acre lot with 650 feet of stream frontage. Old Ballard Farm features 23 single-family homesites ranging from two to four acres, offering wooded and pastoral views. Old Ballard Farm homes start around $900,000 and it is one of the few new home communities in the Meriwether Elementary school system.
$329,000
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