Valparaiso, IN 46383 502 Monroe/ 251 Locust

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Presented By: Steve Likas with McColly Real Estate - (219) 663-3835;
  • MLS# 831022
  • 11/18/2025
  • Get pre-approved
  • Request Tour
  • Request Info
  • Beds • 6
  • Baths • 5
  • Garage • 2

Home Details

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
Presented By: Steve Likas with McColly Real Estate - (219) 663-3835;

Interior Features for 502 Monroe/ 251 Locust

Bedrooms

Total Bedrooms6

Other Interior Features

Above Grade Finished Area3166
Fireplace Y/NNo
Interior AmenitiesOther

General for 502 Monroe/ 251 Locust

AppliancesRange, Refrigerator
CityValparaiso
CountyPorter
DirectionsLincolnway to Locust south to Monroe. Building at the south east corner of Monroe and Locust.
Full Baths5
Garage Spaces2
Garage Y/NYes
HeatingBaseboard, Natural Gas, Hot Water
High School DistrictValparaiso
Legal DescriptionWoodhulls Add Lot 4 BLK 16
LevelsTwo
Listing TermsCash, Conventional
Lot Size Square Feet8712
New ConstructionNo
OwnerPaysGas, Water, Trash Collection, Sewer
Patio/Porch FeaturesFront Porch
Pets AllowedNumber Limit, Yes
Property SubtypeApartment
Property TypeResidential Income
Rent IncludesGas, Water, Trash Collection, Sewer
Security FeaturesSmoke Detector(s)
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameCenter 004 Banta's Add, OS, Powells & etc0
Tax Annual Amount10022.16
Tax Year2025
TownshipCenter
UtilitiesElectricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
ViewNeighborhood
Year Built1880

Exterior for 502 Monroe/ 251 Locust

Exterior AmenitiesNone
Lot FeaturesCorner Lot
Lot Size Acres0.2
Lot Size SourceAssessor
Parking FeaturesDriveway, On Street
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Vennessa Sumler

Price $499,900
MLS#831022
List Date 11/18/2025
Property Type Multi-Family
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