34
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$499,000
Est. payment /mo
4 Baths
10,062 SqFt
New
5629 Massachusetts ST Merrillville, IN 46410
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 10,062 sqft
Price per Sqft $49
Subdivision Hilldale Sub
MLS Listing ID 826811
Full Baths 4
Year Built 1973
Annual Tax Amount $5,842
Tax Year 2024
Lot Size 10,062 Sqft
Acres 0.231
Property Sub-Type Quadruplex
Property Description
Welcome to 5629 Massachusetts Street in Merrillville, a solid brick four-unit multifamily property available mid-August. This well-maintained building offers a reliable rental history, recent updates, and opportunities for future value growth.The property includes four fully leased apartments. The bottom two units (1 and 2) feature brand-new tenants with one-year leases starting September 15. Unit 3 is a two-bedroom currently on a month-to-month lease with garage access, offering an excellent opportunity for updates and increased rent in the future. Unit 4 has a tenant with a newly renewed lease. Owner-paid utilities for the bottom two units include electric, gas, water, trash, and sewer, averaging about 400 per month. Additional income is generated by a coin-operated washer and dryer on site, which typically produces 70 to 100 per month.Recent improvements add to the appeal of this investment, including a new roof and gutters installed approximately four years ago, along with at least two new AC units. Each apartment comes equipped with its own range and refrigerator, all included in the sale.With excellent annual rent, plus laundry income, this property provides stable returns with clear upside potential. It is an excellent opportunity for investors seeking both immediate income and long-term growth.
Location
State IN
County Lake
Interior
Interior Features Stone Counters
Heating Forced Air
Fireplace N
Appliance Built-In Gas Range, Refrigerator, Gas Water Heater, Dryer
Exterior
Exterior Feature None
Garage Spaces 2.0
View Y/N true
View true
Building
Lot Description Rectangular Lot
Story Bi-Level
Others
Tax ID 451203155007000030
Acceptable Financing NRA20250828025455889997000000
Listing Terms NRA20250828025455889997000000
Pets Allowed No
Listed by Compass Indiana, LLC
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