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$499,896 -$1 (0%) Price Reduced

  • For Sale
  • Active
  • Multi-Family
  • 6 Total Beds
  • 2 Car Garage
  • Updated 1 day ago
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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

Full Property Details for 502 Monroe/ 251 Locust

General

  • Price: $499,896
  • Taxes: $10,022 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: GNIAR
  • MLS ID: 831022
  • Updated: 1/15/2026
  • Added to Site: 58 day(s) ago

Interior

  • Interior Features: Other
  • Appliances: Range, Refrigerator

Rooms

Bathrooms

  • Total Bathrooms: 5
  • Full Bathrooms: 5

Bedrooms

  • Total Bedrooms: 6

Exterior

  • Exterior Features: None

Parking

  • Garage Spaces: 2
  • Parking Features: Driveway, On Street

Location

  • County: Porter
  • Township: Center
  • Subdivision: Center 004 Banta's Add, OS, Powells & etc0
  • Driving Directions: Lincolnway to Locust south to Monroe. Building at the south east corner of Monroe and Locust.

School Information

  • High School District: Valparaiso

Heating & Cooling

  • Heating Type: Baseboard, Natural Gas, Hot Water

Structural Information

  • Year Built: 1880

Lot Features

  • Lot Size (Acres): 0.2
  • Lot Size (Sq. Ft.): 8,712
  • Lot Features: Corner Lot

Financial Considerations

  • Tax Amount: $10,022.16
  • Tax Year: 2025
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: Woodhulls Add Lot 4 BLK 16
  • Property ID: 64 09 24 456 001 000 004

Listed by McColly Real Estate

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Listing agents

— 502 Monroe/ 251 Locust —

  • McColly Real Estate

  • McColly Real Estate

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

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with our affiliated in-house agency

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 502 Monroe/ 251 Locust

School District:Valparaiso Community Schools
NameGradesDistance
Central Elementary School, Valparaiso, IN
653 Hayes Leonard Road, Valparaiso, IN 46385
K-52.1 mi
Benjamin Franklin Mid School
605 Campbell Street, Valparaiso, IN 46385
6-80.8 mi
Valparaiso High School
2727 Campbell Street, Valparaiso, IN 46385
9-122 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 502 Monroe/ 251 Locust Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/15/2026
Price Reduced
$499,896
—
MLS
1/06/2026
Price Reduced
$499,897
—
MLS
12/29/2025
Price Reduced
$499,898
—
MLS
12/09/2025
Price Reduced
$499,899
—
MLS
11/19/2025
Listed
$499,900
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by McColly Real Estate

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502 Monroe/ 251 Locust, Valparaiso, IN 46383 (MLS# 831022) is a Multi-Family property with units containing 6 bedrooms and 5 full bathrooms. 502 Monroe/ 251 Locust is currently listed for $499,896 and was received on November 19, 2025. Want to learn more about 502 Monroe/ 251 Locust? Do you have questions about finding other Multi-Family real estate for sale in Valparaiso? You can browse all Valparaiso real estate or contact a Coldwell Banker agent to request more information.

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