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.
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : NRA837842
Price : $584,900
Bedrooms : 8
Rooms : 16
Bathrooms : 4
Half Bathrooms : 0
Year Built : 1968
Lot Area : 21,127 Sqft
Status : Active
Acres : 0.485
Property Subtype 1 : Quadruplex
Status : Active
Features
Heating System : Forced Air
Basement : Yes
Pet Policy : No
Parking : Concrete
Exterior Features : Balcony
Interior Features : Entrance Foyer
Appliances
Appliances : Dryer, Refrigerator, Washer, Gas Range, Gas Water Heater
Address Map
Country : US
State : IN
County : Lake
City : Merrillville
Street : 57th
Street Number : 135
Street Suffix : Avenue
Postal Code : 46410
Floor Number : 0
Longitude : W88° 39' 42.5''
Latitude : N41° 30' 51.5''
Directions : Broadway northbound to W 57th Ave, take 57th to corner of Adams St.