5340 Pennsylvania Street Merrillville, IN $ 430,000
5340 Pennsylvania Street
$ 430,000
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5340 Pennsylvania Street

Merrillville, IN, 46410
$ 430,000
Bedrooms8 Baths4.0

Monthly Estimate*

$ 2,648

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Multi-Family Home for sale in Merrillville, IN

for $430,000 with 8 bedrooms and 4 full baths. This home was built in 1964 on a lot size of 0.27.

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.

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Multi-Family Active

Price

$ 430,000

Bedrooms

8

Full Bath

4

Property Type

Multi-Family

Taxes

$ 3,018

Style

Quadruplex

Lot Size

0.27

Year Built

1964

Town/City

Merrillville

County/Region

Lake

MLS | Web ID

839563

Features
Interior
Interior Amenities Entrance Foyer
Fireplace Y/N N
Above Grade Finished Area 3596
Total Bedrooms 8
Total Baths 4
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General
Sewer Public Sewer
Heating Forced Air
Appliances Gas Range Refrigerator
Security Features Carbon Monoxide Detector(s) Smoke Detector(s)
Pets Allowed Number Limit
Year Built 1964
Township Ross
Levels Two
Property Subtype Quadruplex
Tax Year 2025
County Lake
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Southlands 03
Garage Y/N N
Rent Includes Sewer Water Trash Collection
Full Baths 4
Status Active
Directions From Broadway head east on 54th Ave to Pennsylvania St. Turn north onto Pennsylvania St and continue to 5340 Pennsylvania St Merrillville IN 46410. Property will be on the right.
City Merrillville
High School District Merrillville
Lot Size Square Feet 11761.2
Listing Terms Cash Conventional
Tax Annual Amount 3018
Lease Considered Y/N N
Standard Status Active
Legal Description SOUTHLANDS 3RD SUBDIV. ALL L.5 BL.32 N.3FT. L.6 BL.32
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Exterior
Exterior Amenities Private Yard
Parking Features Paved
Lot Features Back Yard Paved
Water Source Public
Total Parking 10
Lot Size Acres 0.27
Lot Size Source Assessor
Waterfront Y/N N
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* Excluded Features
List By
Keisha Dooley

Listing Agent

Property Boss

Broker

kdooley774@gmail.com

Email

Affordability Calculator

$2,899
Per Month
91%
9%
0%
Monthly Principal & Interest
$2,648
Monthly Property Taxes
$252
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4001600 Elementary School
4001681 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/26/2026$430,000 Listed Price

Map


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5340 Pennsylvania Street, Merrillville, IN, 46410 is a Multi-Family Home for sale at $430,000 with a lot size of 0.27. 5340 Pennsylvania Street has 8 bedrooms, 4.0 baths, and was built in 1964. The property's zip code is 46410 which is in Merrillville, IN