NOT LISTED FOR SALE

1007 Elizabeth Dr Valparaiso, IN 46383

10 Beds
10 Baths
3,900 Sq Ft
6,273 Sq Ft Lot

Last Sold May 31, 2024

Last sale price $755,000 $194 Per Sq Ft

11 Days on Market

Highlights

  • Corner Lot
  • No HOA
  • Forced Air Heating and Cooling System
  • Thomas Jefferson Elementary School Rated A
  • 1-Story Property
  • Concrete Flooring

About This Home

As of May 2024

Rare opportunity!! This 5-unit townhouse package in the wonderful town of Valparaiso, IN is the investment opportunity you've been looking for. Each unit is occupied, and the current gross income is $75,000 annually. Each townhome has 2 large bedrooms,1 and a half bathrooms, a finished basement, and have been tastefully updated. This property has been well maintained and cared for by professionals over the past several years, which is an ideal situation for post-acquisition. Almost no utility bills! Tenants pay for their own gas, electric, water, and sewer utility bill, while the landlord pays for trash. Each townhome can be separately parceled out, which adds another interesting option for the future. This investment property currently sits at a true 6.0% cap rate, and projects to be a 7.3+% after a few simple moves. Reach out for detailed data, and to schedule a viewing of the property now!

Last Agent to Sell the Property

Tariq Suboh

Ellsbury Commercial Group LLC License #RB20000815 Listed on: 04/16/2024

Co-Listed By

Farris Gosea

Ellsbury Commercial Group LLC License #RB20000951

Last Buyer's Agent

Nicole Milford

Compass Indiana, LLC License #RB14052457

Compass Indiana, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,973

Year Built

  • Built in 1966

Lot Details

  • 6,273 Sq Ft Lot
  • Privacy Fence
  • Back Yard Fenced
  • Corner Lot

Interior Spaces

  • 1-Story Property
  • Basement
  • Laundry in Basement

Flooring

  • Carpet
  • Concrete
  • Vinyl

Bedrooms and Bathrooms

  • 10 Bedrooms

Laundry

  • Dryer
  • Washer

Parking

  • 15 Parking Spaces
  • Paved Parking

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for electricity, sewer, water
  • The owner pays for grounds care, taxes, snow removal, management
  • Assessor Parcel Number 64-10-19-102-001.000-004

Community Details

Overview

  • No Home Owners Association
  • 5 Units
  • Willowbrook Condos Subdivision

Building Details

  • Insurance Expense $2,270
  • Maintenance Expense $1,710
  • Manager Expense $3,500
  • Trash Expense $2,208
  • Gross Income $75,000
  • Net Operating Income $47,278

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,973

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1966
  • Reso Property Sub Type: Quadruplex
  • ResoLaundryFeatures: In Basement, In Unit
  • ResoLotFeatures: Corner Lot
  • ResoPoolFeatures: None
  • Road Frontage Type: City Street
  • Road Surface Type: Asphalt, Paved
  • Income And Expenses Maintenance Expense: 1710
  • Co List Office Mls Id: NRA2314
  • Subdivision Name: Willowbrook Condos
  • Above Grade Finished Sq Ft: 3900
  • Garage Yn: No
  • Unit Levels: One
  • New Construction: No
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dryer, Refrigerator, Washer, Free-Standing Gas Range
  • Interior Amenities: Ceiling Fan(s)
  • Basement: Apartment, Concrete
  • Flooring: Carpet, Vinyl, Concrete, Ceramic Tile
  • Basement YN: Yes
  • Full Bathrooms: 5
  • Half Bathrooms: 5
  • Total Bedrooms: 10
  • Below Grade Sq Ft: 3900

Exterior Features

  • Exterior Features: Private Yard
  • Fencing: Back Yard, Partial, Privacy
  • Acres: 0.144
  • Waterfront: No
  • Reso Roof: Shingle

Garage/Parking

  • Parking Features: Additional Parking, Paved, Parking Lot
  • Total Parking Spaces: 15

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Forced Air, Separate Meters, Natural Gas
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: None
  • HOA Rent Includes: None
  • Association: No

Fee Information

  • Trash Expense: 2208

Lot Info

  • Lot Size Sq Ft: 6272.64
  • Parcel #: 64-10-19-102-001.000-004

Rental Info

  • Tenant Pays: Electricity, Sewer, Water
  • Owner Pays: Grounds Care, Taxes, Snow Removal, Management

Tax Info

  • Year: 2023
  • Tax Annual Amount: 1972.96

Multi Family

  • Number Of Units Total: 5
  • Annual Gross Income: 75000
  • Insurance Expense: 2270
  • Resident Manager Expense: 3500

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/31/2024 05/31/24 Sold $755,000 -4.7% $194 / Sq Ft
04/28/2024 04/28/24 Pending -- -- --
04/16/2024 04/16/24 For Sale $792,000 -- $203 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tariq Suboh

    Seller's Agent in 2024

    Tariq Suboh

    Ellsbury Commercial Group LLC

    (219) 805-5200

    2 in this area

    61 Total Sales

    Section Image
  • Farris Gosea

    Seller Co-Listing Agent in 2024

    Farris Gosea

    Ellsbury Commercial Group LLC

    (219) 393-9177

    5 in this area

    64 Total Sales

    Section Image
  • Nicole Milford

    Buyer's Agent in 2024

    Nicole Milford

    Compass Indiana, LLC

    (630) 251-0382

    8 in this area

    455 Total Sales

    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 802226

Northwest Indiana Association of REALTORS®

Indiana Porter County Valparaiso 46383

1007 Elizabeth Dr, Valparaiso, IN

This home is located at 1007 Elizabeth Dr, Valparaiso, IN 46383 since 16 April 2024. This property was built in 1966. 1007 Elizabeth Dr is a home located in Porter County with nearby schools including Thomas Jefferson Elementary School, Thomas Jefferson Middle School, and Valparaiso High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Indiana Association of REALTORS® Copyright 2025 MuItiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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