$584,900

beds

baths

4,320

square ft

135 W 57th Avenue

Merrillville, Indiana 46410

New / MLS #837842 / Multiple Unit (2-4) / Merrillville

Listing information updated 4/27/2026 at 6:24pm

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.

Full Features

Basement:

Interior Entry,Walk-Out Access,Storage Space

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air

Appliances:

Dryer, Washer, Refrigerator, Gas Water Heater, Gas Range

Pool:

Age:

58 Years

Roof Type:

Shingle

Parking Type:

Concrete

Parking Spaces:

Garage:

Concrete

Room Count:

Water Front:

Square Feet:

4,320

Lot Size:

0.485 Acres

Acreage:

0.485

Taxes & Assessments

Tax Amount:

$8,189

Tax Year:

2024

Location

Zip Code:

46410

City:

Merrillville

County:

Lake

Schools

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Basement:

Interior Entry,Walk-Out Access,Storage Space

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air

Appliances:

Dryer, Washer, Refrigerator, Gas Water Heater, Gas Range

Pool:

Age:

58 Years

Roof Type:

Shingle

Parking Type:

Concrete

Parking Spaces:

Garage:

Concrete

Room Count:

Water Front:

Square Feet:

4,320

Lot Size:

0.485 Acres

Acreage:

0.485

Tax Amount:

$8,189

Tax Year:

2024

Zip Code:

46410

City:

Merrillville

County:

Lake

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Listing Office: Better Homes and Gardens Real

Listing Office Phone: 219.999.8990

Disclaimer: The data relating to real estate for sale on this website comes courtesy of NIRA as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 4/27/2026 at 6:24pm. All data is obtained from various sources and may not have been verified by 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.