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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.

Featured Listings

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Residential

4Bedroom(s)
2Bathroom(s)
2,544Sqft
Brand new home! Highly customizable custom home in great location! Detached garage with opportunity for ADU. Floor plans and renderings are examples only. You pick your finishes, appliances, floor plan. Respected local builder who offers great attention to detail and thoughtfully designed living spaces with high-end finishes throughout.
$775,000

Lot 146 PEN PARK LN, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
3Bathroom(s)
52Picture(s)
2,739Sqft
Elegant. Unique. Custom built golf front home designed and built for your lifestyle and needs. You pick your finishes, appliances, floor plan and location. Respected local builder who offers great attention to detail and thoughtfully designed living spaces with high end finishes throughout.
$905,000

1800 JEFFERSON PARK AVE, CHARLOTTESVILLE, Virginia 22903

Residential

1Bedroom(s)
1Bathroom(s)
5Picture(s)
610Sqft
Top floor Corner Condo located within walking distance to UVA Grounds/Hospital, Scotts Stadium and more......... This bright filled condo offers an open floor plan with plenty of natural light. Enjoy plenty of outdoor space on the large deck. The kitchen has newer cabinets and countertops.
$165,000

2720 MERIWETHER DR, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
3Bathroom(s)
3,375Sqft
This updated, painted brick home in the heart of Ivy and the Meriwether Lewis school district offers incredible comfort and charm. The 4 bedroom, 3 bath one-level offers a fully finished basement and is deceptively spacious. The kitchen is renovated, stylish, functional and large- with breakfast area, huge island, office work space and gas fireplace.
$595,000

1370 ALLISTER GRN, CHARLOTTESVILLE, Virginia 22901

Residential

2Bedroom(s)
3Bathroom(s)
1,925Sqft
Completely renovated and move in ready townhome in River Run. The 3-level property has a flexible floor-plan and includes a light-filled walkout basement that can easily be used as a 3rd bedroom with its own full bath and office. The main level features a lovely new kitchen with brand new appliances and additional storage.
$350,000

103 WESTMINSTER RD, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
2Bathroom(s)
2,226Sqft
Canterbury Hills beauty in Albemarle County seeking a new owner with vision! This split level home gives you 4 bedrooms, 2.5 bathrooms, and a roomy 2,226 SqFt of living space.
$380,000

1085 BLACKBURN BLUFF, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
3Bathroom(s)
51Picture(s)
3,771Sqft
Welcome to this one-owner, well-maintained, 4–5-bedroom home (5th is currently office) located in the sought after Dunlora neighborhood perfectly situated on a private wooded cul-de-sac.
$650,000

3 FOWLER CIR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
3Bathroom(s)
26Picture(s)
2,203Sqft
**UNDER CONSTRUCTION for DECEMBER DELIVERY** The BAINBRIDGE in BELVEDERE. Enjoy private wooded lots in an established neighborhood just 2.5 miles from downtown. A thoughtfully designed main level includes a well-appointed kitchen w/ gas cooking, & oversized 9’ island that overlooks the living room w/ fireplace making it perfect for entertaining.
$498,869

1586 BROAD CROSSING RD, CHARLOTTESVILLE, Virginia 22911

Residential

4Bedroom(s)
2Bathroom(s)
5Picture(s)
2,128Sqft
HOLLYMEAD home in sought after neighborhood. 4 bedrooms in excellent shape. Open floor plan includes a family room with gas fireplace and hardwood floors, living and dining room with hardwood floors. Primary suite with vaulted ceilings. Recently painted. Great location on private street in cul-de-sac. Close access to 29.
$425,000

2202 JEFFERSON PARK AVE, CHARLOTTESVILLE, Virginia 22903

Multi-family

4Picture(s)
2,560Sqft
Prime UVA-area investment property. Rental duplex in great City location -- close to I-64. and campus. Gross annual rents of $62,400. Fully rented to Summer of 2023. Both units are 5 bedroom, 2.5 bath.
$995,000

2211 BANBURY ST, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
19Picture(s)
1,125Sqft
Excellent opportunity for investment, starter home, or one-level living dream renovation w/ a great yard! This is a rare option for those who want to add their own personal touch. You will LOVE the wonderful Greenbrier location convenience. Gorgeous & walkable, this neighborhood is perfect for pets, children & chatting w/ the neighbors.
$325,000

3039 COLONIAL DR, CHARLOTTESVILLE, Virginia 22911

Residential

4Bedroom(s)
2Bathroom(s)
49Picture(s)
1,842Sqft
Quality built 4 bedroom, 2.5 bath split level home on nice lot in highly desired Jefferson Village. Partly finished walk-out basement with large family/rec room with huge hearth and fireplace. Opportunity to finish the basement to add additional bedroom. Hardwood floors on main level. Sits nicely off the subdivision road with a large shed in the rear of the property.
$375,000
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