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

2Bedroom(s)
1Bathroom(s)
24Picture(s)
2,334Sqft
Owner uses this property as a second home. Sale listing active till October 31, 2022 Also listed for rent, first come first served.
$395,000

1057 HIGHLANDS DR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
22Picture(s)
1,853Sqft
Affordable, light filled, one level living in Western Albemarle. Large first floor Owner's Suite with walk in closet and first floor laundry. Open floor plan with wood burning fireplace, kitchen island and custom built in bookcases. Private patio and back yard. 3 bedrooms, 2 full baths plus a large additional Bonus Room. (19' 10" X 30') Original Owner. Needs some updating.
$349,900

1795 AVON STREET EXT, CHARLOTTESVILLE, Virginia 22902

Residential

2Bedroom(s)
1Bathroom(s)
46Picture(s)
624Sqft
The perfect completely remodeled charming bungalow in desirable Belmont neighborhood location. Owner has paid attention to detail in making this home move-in ready for new owners. Full wrap around porch to sit and enjoy your privacy. Large private fenced yard.
$400,000

4006 TOMPKINS DR, CHARLOTTESVILLE, Virginia 22911

Residential

5Bedroom(s)
3Bathroom(s)
35Picture(s)
2,743Sqft
This classic quad-level brick home looks familiar, but open the front door & you’ll find one surprise after another! Need LOTS of space? With 5 bedrooms (could be 6) & 3 bathrooms, there's room for everyone. The living, dining & family rooms are all generously sized & the kitchen is awesome: with a fun mix of retro vibe & cool updates, it will be the heart of this home.
$520,000

118 WOODLAKE DR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
1Bathroom(s)
29Picture(s)
1,428Sqft
Wonderful three bedroom and one and a half bathroom end unit townhome that is secluded from the neighborhood due to the mature trees surrounding the lot. This meticulously cared for home boasts a spacious deck and a walking path steps from the home! Fantastic location, only a few blocks away from Rt.29 with all the shopping and restaurants you could want.
$264,000

1160 MAPLE VIEW DR, CHARLOTTESVILLE, Virginia 22902

Residential

3Bedroom(s)
2Bathroom(s)
24Picture(s)
1,579Sqft
Move in ready, one Level, no steps living close to downtown, PVCC and I64. Located on a very private 0.4acre lot at the end of a cul de sac in the Willow Lake area just past the entrance to PVCC and Monticello.
$450,000

705 DRUID AVE, CHARLOTTESVILLE, Virginia 22902

Residential

2Bedroom(s)
1Bathroom(s)
6Picture(s)
1,213Sqft
Excellent potential for this mixed use lot in Belmont and within Charlottesville's strategic investment area. 1/2 block off of Avon adjacent to Brown's market with great visibility to Avon. The location directly across the street from Belmont park makes this a fantastic and unique opportunity for a multi use development which could include Retail, Office and Residential space.
$549,000

415 WHITE GABLES LN, CHARLOTTESVILLE, Virginia 22903

Residential

2Bedroom(s)
2Bathroom(s)
48Picture(s)
1,897Sqft
Location, Location, Location!! Enjoy elegant simplicity and a turn-key lifestyle living in the highly sought after White Gables community. Take in the beautifully landscaped views and privacy from the covered porch and enjoy the convenience of one level living.
$775,000

1040 STONEWOOD DR, CHARLOTTESVILLE, Virginia 22911

Residential

4Bedroom(s)
2Bathroom(s)
72Picture(s)
2,309Sqft
OPEN HOUSE SATURDAY, OCTOBER 8, 1-4PM. PRICE REDUCED!!! Personality Plus! Nestled at the end of a cul de sac in a magical 1.6 AC park-like location you'll find this charm-filled home waiting for your discovery. Warm hardwoods & inviting spaces capture your attention at every turn. Offering 4 BR, 2.5BA w/a walk-out basement, there's space for everyone.
$599,000

1952 ASHEVILLE DR, CHARLOTTESVILLE, Virginia 22911

Residential

3Bedroom(s)
2Bathroom(s)
44Picture(s)
2,376Sqft
Gorgeous 3-level townhome with bump outs and beautiful views from your private deck of the Blue Ridge Mountains in the PAVILIONS AT PANTOPS neighborhood. Short walk to Starbucks, Chick Fil A, Giant, various shops and a moment's drive from Sentara Hospital, I-64, 10 mins to Downtown/UVA. 3-bedrooms with 2 full and 2 half baths.
$398,000

2508 FONTAINE AVE, CHARLOTTESVILLE, Virginia 22903

Residential

6Bedroom(s)
2Bathroom(s)
29Picture(s)
2,444Sqft
Affordable 2 unit rental property near UVA and the Fontaine Research center. R-2U zoning, Currently Unit B is rented through July of 2023. Unit A will be conveyed vacant. Significant investment potential. Live in one unit and rent the other if you wish. Parking is off-street adjacent to building. Call for more info and showings.
$465,000

742 LOCHLYN HILL DR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
21Picture(s)
2,027Sqft
TO BE BUILT on Homesite 106 - Three bedrooms all on ONE LEVEL within close proximity of downtown in the CITY neighborhood of LOCHLYN HILL. Choose this 2,027 sf plan of living space on one floor or work with the builder to design/ build a custom plan. A full-width front porch with plenty of room for seating creates a welcoming vibe.
$799,000
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