Step into a rare and compelling investment opportunity located in the historic Old Town district of Selma. This expansive two-story single-family residence, originally built in 1880, offers over 4,600 square feet of interior living space and presents a unique chance for experienced investors, developers, or ambitious renovators to transform a fire-damaged property into a standout asset.
Properties of this size, character, and location—especially at such a low price per square foot—are becoming increasingly rare in today’s real estate market. While the home has suffered fire damage and is being sold strictly as-is, it holds immense potential for those with the vision, resources, and expertise to restore or redevelop it.
From the outset, it is important to understand that this property is not a typical move-in-ready home. It requires significant renovation and careful planning. However, for the right buyer, that challenge is precisely where the opportunity lies. The combination of size, historic charm, and location creates a foundation for a high-value transformation that could yield substantial returns.
Spanning approximately 4,606 square feet, the home offers an unusually large layout that includes three bedrooms and four full bathrooms. This configuration provides flexibility for redesign, whether you choose to maintain the existing layout or reconfigure the space to better align with modern living standards. Large homes like this can be adapted into luxury residences, multi-generational living spaces, or even income-producing properties such as short-term rentals or multi-unit conversions, subject to local regulations.
The interior features a mix of parquet, tile, and wood flooring, along with architectural elements that reflect the craftsmanship of a bygone era. Though much of the interior will require restoration due to fire-related damage, these original materials can serve as inspiration for a thoughtful renovation that blends historic character with contemporary design.
Multiple fireplaces, including an outdoor fireplace, add another layer of uniqueness to the property. Once restored, these features can become focal points that enhance both aesthetic appeal and functionality. Fireplaces are highly desirable in many markets, often associated with comfort, luxury, and timeless charm.
The home also includes attic space and additional storage areas, which can be repurposed or expanded depending on your renovation goals. High ceilings and the generous scale of the structure provide an excellent canvas for creative design, allowing for open-concept living areas, upgraded suites, or custom finishes that cater to modern buyer preferences.
Externally, the property sits on a city lot measuring approximately 8,755 square feet. While not overly large, the lot is sufficient for outdoor enhancements such as landscaping, seating areas, or even small garden spaces. The presence of balconies and covered porches further extends the living area outdoors, offering opportunities to create inviting spaces for relaxation or entertaining.
The exterior construction includes a combination of metal and wood siding, which will require inspection and potential repair or replacement. However, these materials also provide flexibility in redesign, allowing you to modernize the exterior while preserving elements of the home’s historic identity.
Utilities are already in place, including public water, sewer, natural gas, electricity, and high-speed internet availability. This is a significant advantage, as it reduces the complexity and cost of redevelopment. With the right upgrades, the property can be brought up to modern standards while maintaining efficiency and functionality.
Safety is a critical consideration for this property. Due to the fire damage, access is restricted, and all interested parties must sign a no-harm agreement prior to entering. Additionally, no children are allowed on-site for safety reasons. These precautions underscore the importance of approaching this property with a professional mindset and appropriate preparation.
From an investment perspective, the numbers are particularly compelling. With an extremely low price per square foot and a modest tax-assessed value, the property offers a low entry point relative to its size and potential. Annual property taxes are also minimal, which helps reduce holding costs during the renovation process.
For investors focused on return on investment, this property presents multiple exit strategies. A full renovation could position the home as a high-end resale property, especially if historic elements are preserved and enhanced. Alternatively, the size and layout could lend themselves to rental opportunities, whether long-term or short-term, depending on market demand and local regulations.
The location within Selma’s Old Town district adds another layer of appeal. Historic districts often attract buyers and visitors who appreciate architecture, culture, and a sense of place. Revitalization efforts in such areas can lead to increased property values over time, making early investments particularly advantageous.
For developers, this property may also offer redevelopment potential, subject to zoning and planning approvals. The lot size, combined with existing infrastructure, could support creative projects that maximize land use and profitability.
It is worth noting that properties sold as-is require thorough due diligence. Buyers should conduct inspections, review local building codes, and obtain accurate estimates for renovation costs. Working with experienced contractors, architects, and real estate professionals can help mitigate risks and ensure a successful project.
Despite the challenges, the rewards can be significant. Transforming a distressed property into a valuable asset is one of the most effective ways to build equity in real estate. By purchasing at a lower cost and investing strategically in improvements, buyers can create substantial value and achieve strong financial returns.
In addition to financial benefits, there is also the satisfaction of bringing a historic property back to life. Restoring a home from 1880 is not just a renovation project—it is an opportunity to preserve a piece of history while adapting it for modern use. This blend of past and present can result in a truly unique property that stands out in the market.
The demand for distinctive, character-filled homes continues to grow, particularly among buyers who seek alternatives to cookie-cutter new construction. By leveraging the home’s historic features and combining them with modern upgrades, you can create a property that appeals to a wide range of buyers.
Whether you are an experienced investor looking for your next project, a developer seeking a high-potential opportunity, or a buyer with a vision for restoration, this property offers a rare chance to create something exceptional.
Opportunities like this do not come along often—especially at such an accessible price point. With careful planning, strategic investment, and a clear vision, this fire-damaged estate can be transformed into a remarkable success story.
Take the next step by evaluating your goals, assembling your team, and preparing for a project that has the potential to deliver both financial rewards and lasting value. In the world of real estate, the greatest opportunities often come in the form of challenges—and this property is a perfect example of that principle in action.
Listed on Zillow