# 502 Monroe/ 251 Locust, Valparaiso, IN 46383

> **TL;DR:** 6bd/5ba multi-family, $499,890, built 1880. Est. $2,166/mo. Listed 143 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $499,890 |
| Bedrooms | 6 |
| Bathrooms | 5 full |
| Year Built | 1880 |
| Lot Size | 8,712 sqft (0.20 acres) |
| Stories | 2 |
| Property Type | Multi-Family (Apartment) |
| Status | For Sale |
| Days on Market | 143 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,166 |
| **Total** | **$2,166** |

## Property Highlights

- Built in 1880
- 0.20 acre lot
- 2 stories

## Description

### Agent Description
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

## Location

- **Address:** 502 Monroe/ 251 Locust, Valparaiso, IN 46383
- **County:** Porter
- **Neighborhood:** Center 004 Banta's Add,OS,Powells & etc0
- **Coordinates:** 41.465652, -87.05467
- **Google Maps:** https://www.google.com/maps?q=41.465652,-87.05467

## Listing Agent

- **Name:** Steve Likas
- **Brokerage:** McColly Real Estate
- **Phone:** 2193133785
- **Email:** stevelikas@gmail.com

## Primary Photo

![502 Monroe/ 251 Locust - Primary Photo](http://lh.rdcpix.com/5338e5e1e7170b4c8d86839cf621dadal-f3213312503r.jpg)

*68 total photos available on [listing page](https://www.propertysimple.com/listing/502-monroe-251-locust-valparaiso-in-46383-n831022)*

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**MLS#:** 831022 | **Updated:** 2026-04-25
**Source:** listhub

*Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/502-monroe-251-locust-valparaiso-in-46383-n831022)

---

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