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

4Bedroom(s)
3Bathroom(s)
52Picture(s)
3,014Sqft
This city home with curated modern appeal sits in the desirable Meadowbrook Heights Neighborhood on a large, privately fenced-in lot. This home is completely redesigned and fully updated! Outside, the home boasts a brand new roof, new 6" gutters, and a beautifully landscaped backyard complete with a covered porch, large deck, fireplace, patio, natural stone retaining walls, and walkways.
$725,000

531 TYREE LN, CHARLOTTESVILLE, Virginia 22901

Residential

5Bedroom(s)
4Bathroom(s)
66Picture(s)
5,221Sqft
Wonderful Arts & Crafts style home located on a quiet street in popular Belvedere neighborhood, conveniently located between the Rt 29 corridor and Downtown Charlottesville and UVA Grounds and Medical Center. Built in 2009, this 5/6 BR 4.5 BA one-owner house has been meticulously maintained and updated.
$895,000

4515 BERWYN LN, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
2Bathroom(s)
30Picture(s)
1,941Sqft
NEW CONSTRUCTION, READY FOR SUMMER MOVE-IN! Located in Spring Hill Village, you’ll enjoy all the conveniences of Charlottesville living, plus enjoy Spring Hill Village’s very own neighborhood park, dog park, picnic pavilion and fire pit, all without any Yard Work, leaving plenty of time to enjoy the surrounding mountain views.
$469,990

4 H BRINDLE LN, CHARLOTTESVILLE, Virginia 22911

Residential

4Bedroom(s)
3Bathroom(s)
26Picture(s)
1,915Sqft
2-Car Garage Townhome with Spring 2023 Delivery! The To-Be-Built Poplar features 4br/3.
$439,885

18 FOWLER CIR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
3Bathroom(s)
26Picture(s)
2,239Sqft
**END UNIT** UNDER CONSTRUCTION for SPRING DELIVERY** Belvedere is an established community centrally located to all things C’ville, just 2.5 miles from downtown yet surrounded by nature. The Bainbridge has a thoughtfully designed open floorplan including a galley style kitchen, oversized 9’ island, & great room w/ fireplace making it perfect for entertaining.
$539,900

126 DEERWOOD RD, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
36Picture(s)
1,527Sqft
ONE LEVEL LIVING and one of a kind custom built by Charlottesville's legendary master builder Harold Davis. Located two minutes to CVS, Target, Harris Teeter, restaurants and more at the Hollymead Town Center. The home has been meticulously maintained by the original owner/daughter of the builder.
$449,900

1001 HAYRAKE LN, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
3Bathroom(s)
37Picture(s)
2,730Sqft
Charming sun filled Redfields home with covered front porch, soaring vaulted ceilings and finished basement. Beautiful red oak flooring, wood burning fireplace with stone hearth, large kitchen with tons of counter space, granite countertops, tile backsplash and island. Owners suite has a large walk in closet and private bath with ceramic tile shower.
$529,000

53 GALAXIE FARM LN, CHARLOTTESVILLE, Virginia 22902

Residential

4Bedroom(s)
2Bathroom(s)
28Picture(s)
2,310Sqft
Galaxie Farm is a BRAND NEW Southside community promising Carter Mountain views just minutes from Downtown, UVa, Martha Jeff, I-64 & Wegman's. The To-Be-Built Chestnut is now available is to customize for a Summer 2023 delivery! This earth-friendly, farmhouse-style home has a generously sized kitchen with a walk-in pantry and drop zone from the attached 2 car garage for added convenience.
$699,900

110 TURTLE CREEK RD, CHARLOTTESVILLE, Virginia 22901

Residential

2Bedroom(s)
2Bathroom(s)
44Picture(s)
1,120Sqft
BEST value in Town! LOCATION is Close to EVERYTHING C'ville. On the bus line, and easy walk to Shops of Stonefield and restaurants. UVA is just a few minutes away. This FULLY RENOVATED unit, is as close to PERFECTION as you can get, FRESH Paint, Lighting Replaced with ALL LED BULBS. This Two bedroom, 1st floor condo features a WOOD BURNING fireplace.
$214,900

1659 MERIDIAN ST, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
1Bathroom(s)
15Picture(s)
1,008Sqft
Look no further! This updated raised ranch in the sought after Belmont area offers 3 bedrooms and 1.5 bathrooms and is move-in ready. The main level of this home has been completely renovated and has a large unfinished basement awaiting your preferred design. The kitchen has updated cabinets, granite countertops, new sink and fixtures. Both bathrooms have been completely renovated.
$399,000

115 WESTERLY AVE, CHARLOTTESVILLE, Virginia 22903

Multi-family

20Picture(s)
1,831Sqft
Exceptional UVA location and investment opportunity -- tucked between Fontaine Research Park and Fry's Springs/JPA, just off 250 by-pass. Two unit duplex, one unit with two bedrooms/one with three bedrooms and 1 bath are spacious and well maintained with plenty of on-street parking.
$465,000

113 WESTERLY AVE, CHARLOTTESVILLE, Virginia 22903

Multi-family

29Picture(s)
1,670Sqft
Exceptional UVA location and investment opportunity -- tucked between Fontaine Research Park and Fry's Springs/JPA, just off 250 by-pass. Two unit duplex, each with two bedrooms and 1 bath are spacious and well maintained with plenty of on-street parking.
$445,000
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