5340 Pennsylvania Street
Merrillville, IN 46410
8
Bed
4
Bath
0.27Acre(Lot)
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
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedroom: 8Bathroom Information
Total Baths: 4 Full Baths: 4Room Information
Has Basement: YesInterior Features
Entrance Foyer Appliances: Gas Range, Refrigerator -
Heating & Cooling
Heating: Forced Air WaterSource: Public
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Building Information
Year Built: 1964 -
Exterior Features
Private Yard
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Lot Information
Lot Description: Back Yard, Paved Lot Square Feet: 11761.2 Lot Acres: 0.27Property Information
Property Type: Residential Income Sub Type: Quadruplex
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Tax Information
Tax Legal Description: SOUTHLANDS 3RD SUBDIV. ALL L.5 BL.32 N.3FT. L.6 BL.32 Annual Tax: $3018 Tax Year: 2025 Parcel Number: 451203102014000031
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Parking Information
Total Parking: 10 Paved
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Utility Information
Sewer: Public Sewer Water Source: Public -
Location Information
Subdivision: Southlands 03 City: Merrillville Direction: 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.
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 8652 Madison Street, Merrillville, IN, 46410 | $324,900 | 3 | 2 | 1,733 | 1,733 SqFt |
| 7932-7934 Whitcomb Street, Merrillville, IN, 46410 | $569,000 | -- | -- | -- |
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Based on information submitted to the MLS GRID as of 07/05/2026 @ 18:20. All data is obtained from various sources and may not have been verified by the broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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ByOwner last updated this listing 07/05/2026 @ 18:20
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