135 W 57th Avenue, Merrillville, IN 46410
- $565,000
- 8
- BD
- 4
- BA
- Sold Price
- $565,000
- List Price
- $584,900
- Status
- CLOSED
- MLS#
- 837842
- Closing Date
- May 22, 2026
- Year Built
- 1968
- Days On Market
- 25
- Bedrooms
- 8
- Bathrooms
- 4
- Township
- Ross
Property Description
Fully brick 4-unit investment opportunity offering strong cash flow potential with value-add upside. Each unit features 2 bedrooms, 1 bathroom, and approximately 1,080 square feet with identical, functional layouts. One unit has been updated with additional improvements throughout the property, while current rents remain below market, providing immediate upside for investors. The building sits on a corner lot just minutes from a main corridor with shopping, dining, and everyday conveniences. Each unit includes a private rear balcony and an attached garage space accessed through a drive-down basement, a rare amenity that adds tenant appeal and retention. The property includes a mix of long-term and newer tenants, offering both stability and opportunity for rental growth. Tenants are responsible for their own heat and electric, while the owner covers water, sewage, and common utilities, keeping operations straightforward. This is a solid addition to any portfolio with strong fundamentals, desirable unit sizes, and built-in potential to increase returns.
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Additional Information
- Acres
- 0.49
- Taxes
- $8,189
- Water
- Public
- Heating
- Forced Air
- Appliances
- Dryer, Washer, Refrigerator, Gas Water Heater, Gas Range
- Agent Name
- Drake Phillips
Listing courtesy of Drake Phillips from Better Homes and Gardens Real.
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