3 Luker Circle, Selma, AL

17.41% return

SP: $474,900

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Property Description

INSANE OPPORTUNTIY!!!

Don't miss this unbeatable investment. 15 homes and a triplex on 9 acres, total of 18 units. Solid brick high quality construction, beautiful terrazzo floor on every house! Separate electric, water and trash meters, tenants pay all utilities. Central heat and air. City water and sewer. PROPERTY WILL GENERATE A 17%+ NET RETURN ON INVESTMENT!!! OVER $100K IN VALUE ADD!!! Do not miss out on this opportunity!!!

Property management and financing is available.

Property Information

Listing statusActive
Property typeMulti Family
Total units18
Total bedrooms54
Total bathrooms29.5
Building size25,371 sq. ft.
Lot size8.9 acres
Year built1965

CountyDallas County
Subdivision
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral

Property Financial Summary

Sale price$474,900
Estimated rehab¹$50,000
Total investment$524,900

TypeProforma
After repair value$624,900
Potential profit$100,000

Gross income (annually)$136,200
Operating expenses (annually)$44,802
Net income (annually)$91,398
Gross return25.95%

Gross income (monthly)$11,350
Operating expenses (monthly)$3,734
Net income (monthly)$7,616
Net return17.41%

Property Income & ExpensesMonthlyAnnual

Income

House 1
Unit House #1: 3 bed / 2 bath$650/month$7,800/year
House 10
Unit House #10: 3 bed / 1 bath$600/month$7,200/year
House 11
Unit House 11: 3 bed / 2 bath$650/month$7,800/year
House 13
Unit House #13: 3 bed / 2 bath$650/month$7,800/year
House 14
Unit House #14: 3 bed / 2 bath$650/month$7,800/year
House 15
Unit House #15: 3 bed / 1.5 bath$600/month$7,200/year
House 16
Unit House #16: 3 bed / 2 bath$650/month$7,800/year
House 17
Unit House #17: 3 bed / 2 bath$650/month$7,800/year
House 19
Unit House #19: 3 bed / 2 bath$650/month$7,800/year
House 2
Unit House #2: 3 bed / 2 bath$650/month$7,800/year
House 20
Unit House #20: 3 bed / 2 bath$650/month$7,800/year
House 6
Unit House #6: 3 bed / 1 bath$600/month$7,200/year
House 7
Unit House #7: 4 bed / 1 bath$650/month$7,800/year
House 8
Unit House #8: 3 bed / 1 bath$600/month$7,200/year
House 9
Unit House #9: 3 bed / 1 bath$600/month$7,200/year
Triplex 5
Unit 3: 3 bed / 2 bath$650/month$7,800/year
Unit 4: 2 bed / 1 bath$550/month$6,600/year
Unit 5: 3 bed / 2 bath$650/month$7,800/year
Total$11,350/month$136,200/year

Expenses

Property Taxes$383/month$4,600/year
Insurance (estimated)$850/month$10,202/year
Maintenance reserve$2,000/month$24,000/year
Lawn care$500/month$6,000/year
Total$3,734/month$44,802/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.