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$258,000

  • Sold
  • Closed
  • Multi-Family
  • 5 Total Beds
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Excellent investment opportunity in the heart of Hobart! This 5-unit property offers a mix of one-bedroom and efficiency apartments, plus a larger 3-bedroom unit, all with strong rental history. With a total living area of 2,738 sq. ft. and on-site basement storage/common area, the property is both functional and efficient. Off-street parking available for tenants. Conveniently located near downtown Hobart, schools, shopping, and Lake George. A solid income-producing property ready to generate immediate cash flow for an investor!

Full Property Details for 642 Water St

General

  • Sold For: $258,000
  • Taxes: $4,321 (2023)
  • Status: Closed
  • Type: Multi-Family
  • Source: GNIAR
  • MLS ID: 829278
  • Added to Site: 95 day(s) ago

Interior

  • Number of Rooms: 16
  • Interior Features: Other
  • Fireplace: Yes
  • Number of Fireplaces: 1
  • Appliances: Dryer, Washer, Refrigerator, Range

Rooms

Bathrooms

  • Total Bathrooms: 6
  • Full Bathrooms: 4
  • 3/4 Bathrooms: 2

Bedrooms

  • Total Bedrooms: 5

Exterior

  • Exterior Features: Private Yard

Parking

  • Parking Features: On Street

Location

  • County: Lake
  • Township: Hobart
  • Subdivision: Geo & Wm Earles
  • Driving Directions: From Main Street in downtown Hobart, head west on 6th Street (next to Dairy Queen). Turn left onto Water Street. Property will be on the right.

Heating & Cooling

  • Heating Type: Baseboard, Common, Unit Control, Hot Water

Structural Information

  • Year Built: 1905

Lot Features

  • Lot Size (Acres): 0.169
  • Lot Size (Sq. Ft.): 7,361.64
  • Lot Features: Back Yard

Financial Considerations

  • Tax Amount: $4,321
  • Tax Year: 2023
  • Terms: Cash, VA Loan, FHA, Conventional

Disclosures and Reports

  • Legal Description: Geo & Wm Earles 2nd Sub all lot 11 blk 7& lot 12 blk 7
  • Property ID: 450932302006000018

Listed by VIA Realty
Sold by McColly Real Estate

Listing agent

— 642 Water St —

  • VIA Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 642 Water St

School District:Hobart School City
NameGradesDistance
Hobart High School
2211 East 10th Street, Hobart, IN 46342
8-121.4 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 642 Water St

Date
Details
Price
Change
Source
11/27/2025
Sold
$258,000
-7.82%
MLS
10/13/2025
Listed
$279,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by VIA Realty
Sold by McColly Real Estate

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Price Reduced near 642 Water St

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6395 Valleyview Ave, Portage, IN 46368 - Photo 1 Price Reduced
-$5,000 (-1.85%)
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6395 Valleyview Ave  Portage, IN 46368

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5191 Marquette Rd, Portage, IN 46368 - Photo 1 Price Reduced
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Recent Sales near 642 Water St

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803 Water St, Hobart, IN 46342 - Photo 1 Sold
$234,900

803 Water St  Hobart, IN 46342

  • Single Family
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  • 3
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  • 3
    Total Baths
  • 1,301
    Sq. Ft.
Listed by Listing Leaders
Sold by Realty Executives Premier
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    Sq. Ft.
Listed by BS Realty Services Indiana LLC
Sold by McColly Real Estate

642 Water Street, Hobart, IN 46342 (MLS# 829278) is a Multi-Family property that was sold at $258,000 on November 27, 2025. Want to learn more about 642 Water Street? Do you have questions about finding other Multi-Family real estate for sale in Hobart? You can browse all Hobart real estate or contact a Coldwell Banker agent to request more information.