Rare Investment Opportunity - Multi-Unit Property on 1.6 Acres in Porter CountyDiscover the potential of this unique rural property situated on 1.6 acres in desirable Porter County. Currently configured as a 3-unit income-producing property, it offers a fourth unit partially built out--ready for your finishing touches. Live in one unit while generating income from the others, or lease all four for maximum returns.Gross Annual Income - 38,400 with significant upside when the 4th unit is completed and new leases are securedFlexibility - Easily convert into a spacious single-family homestead or keep as a lucrative rental investmentLand - Expansive 1.6-acre lot with privacy and room for potential future additions or enhancementsFinancing - Owner financing may be considered with minimum of 20 100ths down.Don't miss this rare chance to own a versatile, income-generating property in a peaceful rural setting with plenty of upside. Call to schedule walk-through today.
Active
$395,000
143 N 500 W, Valparaiso, IN 46385
8beds
--sqft
Est.:
Quadruplex
Built in 1995
-- sqft lot
$365,400 Zestimate®
$--/sqft
$-- HOA
What's special
- 123 days
- on Zillow |
- 628 |
- 24 |
Zillow last checked: 7 hours ago
Listing updated: August 29, 2025 at 10:03am
Listed by:
Dennis Nichols,
Weichert, Realtors-Moke Agency 219-662-3000
Source: NIRA,MLS#: 819831

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Forced Air, Natural Gas
Appliances
- Included: Dryer, Washer, Refrigerator
Features
- None
- Basement: Finished,Walk-Out Access,Interior Entry
- Has fireplace: No
Interior area
- Finished area above ground: 4,841
Property
Parking
- Parking features: Driveway, Off Street
- Has uncovered spaces: Yes
Features
- Levels: One
- Exterior features: Private Yard
- Has view: Yes
- View description: Rural
Lot
- Size: 1.6 Acres
- Features: Back Yard
Details
- Has additional parcels: Yes
- Parcel number: 640930301002000019
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Condition
- Fixer
- New construction: No
- Year built: 1995
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
- Utilities for property: Electricity Connected, Natural Gas Connected
Community & HOA
Community
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Valparaiso
Financial & listing details
- Tax assessed value: $104,800
- Annual tax amount: $5,075
- Date on market: 4/29/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,USDA Loan,Owner Assisted,Conventional,Contract
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