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135 W 57th Avenue
Merrillville IN 46410 US

$584,900

Pending Listing ID 837842
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8 bed
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4.00 Bath (4 Full)
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Lot: 0.49 Acres
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Other

$584,900

Pending Listing ID 837842
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135 W 57th Avenue 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.

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Property Features

  • Facts
  • Lot Size: 0.49 Acres
  • Property Type: Residential Multi Family
  • Property Sub-type: Other
  • Features
  • Full Bathrooms: 4
  • Exterior Finish: Balcony
  • Heating Fuels: Forced Air
  • Additional Features
  • Basement

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Other
  • listprice: 584900
  • unparsedaddress: 135 W 57th Avenue
  • postalcity: Merrillville
  • stateorprovince: IN
  • country: US
  • postalcode: 46410
  • bathroomsfull: 4
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.485
  • lotsizeunits: Acres
  • lotsizearea: 0.485
  • livingarea: 0
  • livingareaunits: Square Feet
  • latitude: 41.514318
  • longitude: -87.338181
  • listagentfullname: Drake Phillips
  • listagentemail: drakephillipsrealty@gmail.com
  • listagentkey: 3yd-GNIARIN-17682
  • listagentmlsid: 17682
  • listagentpreferredphone: 2198051993
  • listagentofficephone: 2198051993
  • listofficekey: 3yd-GNIARIN-2007
  • listofficemlsid: 2007
  • disclaimer: Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: GNIARIN
  • yearbuilt: 1968
  • listingcontractdate: 2026-04-27
  • countyorparish: Lake
  • parcelnumber: 451204428001000030
  • appliances: Dryer, Washer, Refrigerator, Gas Water Heater, Gas Range
  • heating: Forced Air
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 2
  • parkingtotal: 4
  • waterfrontyn: False
  • franchiseaffiliation: Better Homes and Gardens Real Estate
  • interiorfeatures: Entrance Foyer
  • exteriorfeatures: Balcony
  • rooms: Bedroom 3, Bedroom 5, Bedroom 8, Basement, Bedroom 4, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 7, Bathroom 3
  • basement: Storage Space, Walk-Out Access, Interior Entry
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • location: -87.33818, 41.514317
  • openhouse: { "AppointmentRequiredYN": false, "ListingKey": "3yd-GNIARIN-837842", "OpenHouseEndTime": "2026-05-02 14:00:00", "OpenHouseId": "3660197", "OpenHouseRemarks": "Presented by the Drake Phillips Team.", "OpenHouseStartTime": "2026-05-02 12:00:00", "OpenHouseType": null, "VirtualOpenHouseURL": null }
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Better Homes and Gardens Real Estate Connections", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "CustomSourceId":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"drakephillipsrealty@gmail.com", "ListBrokerageCity":"Crown Point", "ListBrokerageCountry":"US", "ListBrokerageEmail":"terrypapp@aol.com", "ListBrokerageLogoUrl":null, "ListBrokerageName":"Better Homes and Gardens Real Estate Connections", "ListBrokeragePhone":"(219) 613-6275", "ListBrokeragePostalCode":"46307", "ListBrokerageStateOrProvince":"IN", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"1624 E Summit", "ListBrokerageWebsiteUrl":null, "ListOfficeAddress1":"1624 Summit St ", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":"2007", "ListOfficeCity":"Crown Point", "ListOfficeCountry":"US", "ListOfficeEmail":"terrypapp@aol.com", "ListOfficePostalCode":"46307", "ListOfficeStateOrProvince":"IN", "ListPriceCurrencyType":"USD", "ListingTitle":"MULTI_FAMILY - Merrillville, IN", "ListingURL":"https://www.realtor.com/realestateandhomes-detail/135-W-57th-Ave_Merrillville_IN_46410_M40712-58437?f=listhub&s=GNIARIN&m=837842&c=rexren", "MLSModificationTimestamp":"2026-04-30 16:00:14", "Neighborhoods":[], "PostalCode":null, "RoomCount":16, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":8189, "TaxDescription":"PT. OF THE W1/2. E1/2. NE. SE. S.4 T.35 R.8 PARCEL 190X131.74FT. EX.N.40FT. & EX W.30 FT.", "TaxYear":"2024"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 4/30/2026 4:08:57 PM GMT
Source Updated Date: 5/1/2026 6:56:17 PM GMT

Courtesy of: Drake Phillips, Better Homes and Gardens Real, drakephillipsrealty@gmail.com

Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.