5340 Pennsylvania Street, Merrillville, IN 46410

• 8 beds |
• 4 baths

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.

Listing Status:

Pending

Data Last Updated:

July 5, 2026 at 9:22PM

Listing Office:

Property Boss : (219) 801-6123

Listing Agent:

Keisha Dooley :

MLS ID:

839563

Interior

• General: Entrance Foyer
• Appliances: Gas RangeRefrigerator
• Basement: FullUnfinished
• Heating: Forced Air

Exterior

• General: Private Yard
• Parking: PavedParking spaces: 10

Construction

• General: Two

Location

• Originating MLS: nira
• School District: Merrillville
• County: Lake

Lot

• Zoning: SOUTHLANDS 3RD SUBDIV. ALL L.5 BL.32 N.3FT. L.6 BL.32451203102014000031

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: nira