23
See all 23 photos
$430,000
Est. payment /mo
8 Beds
4 Baths
11,761 SqFt
Pending
5340 Pennsylvania ST Merrillville, IN 46410
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 11,761 sqft
Price per Sqft $36
Subdivision Southlands 03
MLS Listing ID 839563
Bedrooms 8
Full Baths 4
Year Built 1964
Annual Tax Amount $3,018
Tax Year 2025
Lot Size 0.270 Acres
Acres 0.27
Property Sub-Type Quadruplex
Property Description
Excellent investment opportunity! Fully occupied 4-unit building featuring all 2 bed, 1 bath units with strong rental demand in the area. Current rents are Unit A at 900/month (lease ending 9/30/2026), Unit B at 725/month with tenant vacating 6/30/2026 creating the perfect opportunity to update the unit and bring rents closer to market value, Unit C at 900/month (lease ending 2/28/2027), and Unit D at 975/month (lease ending 11/30/2026). Market rents for 2 bed, 1 bath units in the area are currently averaging approximately 1,000-1,200/month, offering strong upside potential for investors looking to increase cash flow over time. Based on pro forma market rents, the property has the potential to generate approximately 4,000-4,800 per month in gross rental income. Property features include a private backyard, two storage sheds, and separately metered gas and electric utilities paid by tenants. Owner currently pays water, trash, and sewage. Great opportunity for both seasoned investors and buyers looking to grow their portfolio with a value-add multifamily property.
Location
State IN
County Lake
Interior
Interior Features Entrance Foyer
Heating Forced Air
Fireplace N
Appliance Gas Range, Refrigerator
Exterior
Exterior Feature Private Yard
View Y/N true
View true
Building
Lot Description Back Yard, Paved
Story Two
Schools
School District Merrillville
Others
Tax ID 451203102014000031
Acceptable Financing NRA20260526183606430927000000
Listing Terms NRA20260526183606430927000000
Pets Allowed Number Limit
Listed by Property Boss • Keisha Dooley
NEARBY SCHOOL & BUSINESS
Realest.com