Turtle Creek Condominimum 125 Turtle Creek Rd 18 Unit Apartment Building $4,499,500 ($249,972/Unit) 6.99% Cap Rate Charlottesville, VA 22901

Discover an exceptional investment opportunity at Turtle Creek Condominium in Charlottesville, VA. This impressive property features 18 condominium units, offering a total of 28 bedrooms and 28 bathrooms across a spacious 12,418 square feet. Listed at $4,499,500 this well-maintained brick exterior building is nestled within the desirable Turtle Creek Subdivision and presents an attractive option for investors seeking to own real estate in this vibrant area.
The property's layout includes five one-bedroom/one-bath units and three additional one-bedroom/one-bath units with solariums that can serve as versatile spaces for home offices or cozy dens. Additionally, there are six two-bedroom/two-bath units and four two-bedroom/two-bath units featuring solariums. This thoughtful design caters to diverse tenant needs while providing ample comfort and style. Each unit is equipped with heat pump heating and cooling systems, ensuring year-round climate control.
Turtle Creek offers a wealth of amenities that enhance both resident enjoyment and potential rental appeal. The onsite pool, tennis courts, and clubhouse create a community atmosphere where residents can relax and socialize. Ample parking ensures convenience for both tenants and guests alike. The estimated annual gross income of $314,340 highlights the strong revenue potential of this investment.
Located in Albemarle County, residents will appreciate the prime location just eight minutes from the University of Virginia and ten minutes from downtown Charlottesville. The property’s proximity to Stonefield Shops adds to its allure; within walking distance, you’ll find a variety of restaurants, shops, and entertainment options including movies that cater to diverse tastes.
Additionally, the monthly condo fee simplifies management by covering all exterior maintenance along with common area upkeep. With controlled expenses resulting from these fees, investors can enjoy peace of mind knowing that operational costs are predictable. Owner will sell all 18 units together, or sell some units for owner occupied buyers, or multiple unit packages to investors.
Built in the mid-1980s with contemporary style elements throughout each unit—including charming brick fireplaces—this property blends classic architecture with modern living conveniences. The inclusion of washer and dryer hookups further enhances tenant satisfaction.
In summary, Turtle Creek Condominium stands as a remarkable investment opportunity in Charlottesville's thriving real estate market. With its strategic location near key amenities and educational institutions combined with strong rental income potential and low management overhead through condo fees, this property is poised to attract savvy investors looking to capitalize on the area's continued growth and desirability.