5340 Pennsylvania Street, Merrillville, IN 46410
- $420,000
- 8
- BD
- 4
- BA
- Sold Price
- $420,000
- List Price
- $430,000
- Status
- CLOSED
- MLS#
- 839563
- Closing Date
- Aug 31, 2026
- Year Built
- 1964
- Days On Market
- 97
- Bedrooms
- 8
- Bathrooms
- 4
- Township
- Ross
- Subdivision
- Southlands 03
Property Description
Back on the market at no fault to the seller. 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 7/31/2026 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.
/u.realgeeks.media/kimberlysutgroup/Best_in_the_region_bsb_png.png)
Additional Information
- Acres
- 0.27
- Taxes
- $3,018
- Water
- Public
- Heating
- Forced Air
- Appliances
- Gas Range, Refrigerator
- School District
- Merrillville
- Agent Name
- Keisha Dooley
Listing courtesy of Keisha Dooley from Property Boss.
Selling Office: Estate Squared Away.The content relating to real estate for sale and/or lease on this Web site comes in part from the Internet Data eXchange (IDX) program of the Northwest Indiana REALTORS® Association Multiple Listing Service (NIRA MLS). and is communicated verbatim, without change, as filed by its members. This information is being provided for the consumers’ personal, noncommercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing or leasing.
The accuracy of all information, regardless of source, is deemed reliable but is not warranted, guaranteed, should be independently verified and may be subject to change without notice. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. Featured properties may not be listed by the office/agent presenting this information.
NIRA MLS MAKES NO WARRANTY OF ANY KIND WITH REGARD TO LISTINGS PROVIDED THROUGH THE IDX PROGRAM INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. NIRA MLS SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THESE LISTINGS.
Listings provided through the NIRA MLS IDX program are subject to the Federal Fair Housing Act and which Act makes it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.
NIRA MLS does not knowingly accept any listings that are in violation of the law. All persons are hereby informed that all dwellings included in the NIRA MLS IDX program are available on an equal opportunity basis.
Copyright 2026 NIRA MLS - All rights reserved. 800 E 86th Avenue, Merrillville, IN 46410 USA.
ALL RIGHTS RESERVED WORLDWIDE. No part of any listing provided through the NIRA MLS IDX program may be reproduced, adapted, translated, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or any information storage and retrieval system, or otherwise, without the prior written permission of NIRA MLS. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking. If you believe any NIRA MLS listing contains material that infringes your copyrighted work, please Click Here to review our DMCA policy and learn how to submit a takedown request.