Coldwell Banker Home Page
Skip to main contentColdwell Banker Home Page
Local Realty Service Provided By: Coldwell Banker 1st Choice
Property view
Listing view 2
Listing view 3

5340 Pennsylvania Street, 
Merrillville, IN 46410

$430,000

8

Beds

4

Baths

-

Sq Ft

Multi-Family

Pending

Listed by

Keisha Dooley

Property Boss

219-801-6123

Last updated:

June 6, 2026, 07:30 AM

MLS#

839563

Source:

Northwest Indiana AOR as distributed by MLS GRID

About This Home

5340 Pennsylvania Street

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.

Home Facts

Multi-Family

4 Baths

8 Bedrooms

Built in 1964

Price Summary

430,000

MLS #:

839563

Last Updated:

June 6, 2026, 07:30 AM

Added:

11 day(s) ago

Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

4

Structure

Structure

Year Built:

1964

Lot

Lot Size (Sq. Ft):

11,761

Finances & Disclosures

Finances

Price:

$430,000

Source:Northwest Indiana AOR as distributed by MLS GRID
Based on information submitted to the MLS GRID as of June 6, 2026. 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. IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.