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502 Monroe/ 251 Locust Valparaiso, IN $ 499,899
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$ 499,899 Get more info
502 Monroe/ 251 Locust
$ 499,899
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Share Save

502 Monroe/ 251 Locust

Valparaiso, IN, 46383
$ 499,899
Bedrooms6 Baths5.0

Monthly Estimate*

$ 3,119

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Multi-Family Home for sale in Valparaiso, IN

for $499,899 with 6 bedrooms and 5 full baths. This home was built in 1880 on a lot size of 0.2.

Excellent Investment Opportunity in Valparaiso! Don't miss this great chance to own a 5-unit income property in the heart of Valparaiso! This solid two-story brick building offers classic curb appeal, reliable rental potential, and long-term value. The property features five separate units, providing steady income and flexibility for investors or owner-occupants. Each unit is well-maintained with functional layouts, and tenants enjoy convenient on-site parking plus a two-car garage for added storage or rental potential. Located close to downtown Valparaiso, shopping, restaurants, schools, and major highways, this property offers excellent accessibility and strong rental demand. Whether you're expanding your portfolio or looking to start your investment journey, this is a turnkey opportunity with consistent cash flow and room to grow

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Multi-Family Active

Price

$ 499,899

Bedrooms

6

Full Bath

5

Property Type

Multi-Family

Taxes

$ 10,022

Style

Apartment

Lot Size

0.2

Year Built

1880

Town/City

Valparaiso

County/Region

Porter

MLS | Web ID

831022
Features
Interior
Interior Amenities Other
Fireplace Y/N N
Above Grade Finished Area 3166
Total Bedrooms 6
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General
Sewer Public Sewer
Heating Baseboard Natural Gas Hot Water
Utilities Electricity Connected Water Connected Sewer Connected Natural Gas Connected
Appliances Range Refrigerator
Garage Spaces 2
Patio/Porch Features Front Porch
Security Features Smoke Detector(s)
Pets Allowed Number Limit Yes
Year Built 1880
View Neighborhood
Township Center
Levels Two
Property Subtype Apartment
Tax Year 2025
County Porter
New Construction N
Property Type Residential Income
Subdivision Name Center 004 Banta's Add OS Powells & etc0
Garage Y/N Y
Rent Includes Gas Water Trash Collection Sewer
Full Baths 5
Status Active
Directions Lincolnway to Locust south to Monroe. Building at the south east corner of Monroe and Locust.
City Valparaiso
High School District Valparaiso
Lot Size Square Feet 8712
Listing Terms Cash Conventional
Tax Annual Amount 10022.16
Standard Status Active
Legal Description Woodhulls Add Lot 4 BLK 16
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Exterior
Exterior Amenities None
Parking Features Driveway On Street
Lot Features Corner Lot
Water Source Public
Lot Size Acres 0.2
Lot Size Source Assessor
Waterfront Y/N N
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* Excluded Features
List By
Steve Likas

Listing Agent

Mccolly Real Estate

Broker

stevelikas@gmail.com

Email

Affordability Calculator

$3,954
Per Month
79%
21%
0%
Monthly Principal & Interest
$3,119
Monthly Property Taxes
$835
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4001713 Elementary School
4001707 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
12/9/2025$499,899 0.00% Price Down
11/20/2025$499,900 Listed Price

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502 Monroe/ 251 Locust, Valparaiso, IN, 46383 is a Multi-Family Home for sale at $499,899 with a lot size of 0.2. 502 Monroe/ 251 Locust has 6 bedrooms, 5.0 baths, and was built in 1880. The property's zip code is 46383 which is in Valparaiso, IN

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