Merrillville, IN Apartment Buildings for Sale

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Updated: Apr 6

Gary Multifamily Investment Opportunity

2315 Industrial Boulevard, Gary, IN 46407

$499,900

6,457 sqft 0.22 AC lot

High‑potential multifamily asset with 6 units on one lot in a prime location.
Zoned for up to 9 units, offering a significant opportunity for expansion.
Vacant units provide flexibility for immediate renovation, leasing, or redevelopment strategies.
Main 5‑unit building features spacious 989 sqft apartments with 2 bedrooms, 1 bathroom, and 10' ceilings.
Updated HVAC systems and renovated units in the 5‑unit building provide a strong foundation for immediate income production.

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Updated: Apr 1

Six-Unit Multifamily Investment

1412 Connecticut St, Gary, IN 46407

$350,000

4,200 sqft

Six‑unit multifamily building in Gary, IN with only one vacancy and stabilized in‑place occupancy
Year built 1929; units have been well maintained with light renovations completed as units turn
Includes a distinctive basement apartment and a unique unit mix while retaining original character
Updated mechanical systems throughout the years
On‑site digital laundry facility and a garage used for tenant parking and storage

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All-Brick Multi-Unit Apartment Building

1971 Massachusetts Street, Gary, IN 46407

$225,000

3,096 sqft

All-brick multifamily building with five units, varied layouts, high ceilings, and a newer roof.

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Turnkey 8-Unit Multifamily Building

816 Pennsylvania Street, Gary, IN 46402

$520,000

7,221 sqft

Fully renovated 8-unit building with a mix of one-, two-, and three-bedroom units, sold as-is.

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Planned Unit Development Apartment Site

7961 Harrison Pl, Merrillville, IN 46410

$1,025,000

Multifamily development site with a retention pond and utilities stubbed at the property lines for up to 60 units.

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 5 Active listings in Merrillville, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 67 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Brick 6-Unit Multifamily Building

1021 West 144th Street, East Chicago, IN 46312

$550,000

6,282 sqft

Well-maintained 6-unit brick multifamily property with a full interior gut renovation about 10 years ago.

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7-Unit Multifamily Investment

11 157th Street, Calumet City, IL 60409

$400,000

5,000 sqft

Seven-unit building with recent roof repairs and unit renovations, offering a mix of 1- and 2-bedroom residences for investors.

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Mixed-Use Property on Indianapolis Boulevard

4802 Indianapolis Blvd, East Chicago, IN 46312

Contact for pricing

4,680 sqft

East Chicago mixed-use property with high visibility and traffic.

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Multifamily Apartment Building

11 157th Street, Calumet City, IL 60409

$400,000

Residential income property available for purchase at 11 157th Street in Calumet City, Illinois.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Prime Development Land, Springfield MO

N West Bypass, Springfield, MO 65802

$2,850,000

29.20 AC lot

29.2 acres of retail-zoned land for mixed-use development.

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Asheville Development Opportunity: 5.94 Acres

215 N Bear Creek Road, Asheville, NC 28806

$2,500,000

5.94 AC lot

5.94-acre parcel zoned RM6, ideal for multi-family development.

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Land Near Shepherd University

8285 MARTINSBURG Pike, Shepherdstown, WV 25443

$650,000

3.70 AC lot

Prime land near Shepherd University with development potential.

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Greenville Development Opportunity: 1.33 Acres

71 Salters Road, Greenville, SC 29607

$699,900

1.33 AC lot

1.33 acre parcel suitable for multi-family development near downtown.

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Off-Market Properties in Merrillville, IN

Consider similar Off-Market properties in Merrillville, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

APARTMENT HOUSE (UNDER 5 UNITS)

1510 86th Ln, Merrillville, IN 46410-6458

Value Estimation by Request

4,860 sqft 0.43 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

702 72nd Ave, Merrillville, IN 46410-3624

Value Estimation by Request

6,882 sqft 0.43 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

5925 Jefferson St, Merrillville, IN 46410-2525

Unit 31

Value Estimation by Request

2,673 sqft 0.36 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6833 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7025 Fillmore Dr, Merrillville, IN 46410-3361

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6946 Fillmore Dr, Merrillville, IN 46410-3360

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6827 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7011 Fillmore Dr, Merrillville, IN 46410-3361

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6821 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7022 Fillmore Dr, Merrillville, IN 46410-3362

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

5611 Broadway, Merrillville, IN 46410-2634

Unit 13

Value Estimation by Request

2,775 sqft 0.33 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6837 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7302 Noble St, Merrillville, IN 46410-7862

Value Estimation by Request

4,366 sqft 0.49 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7012 Carolina Pl, Merrillville, IN 46410-3974

Value Estimation by Request

4,116 sqft 0.33 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

766 73rd Ave, Merrillville, IN 46410-4785

Value Estimation by Request

3,960 sqft 0.38 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6829 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

193 53rd Ave, Merrillville, IN 46410-1528

Unit 99

Value Estimation by Request

2,639 sqft 0.33 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6871 Fillmore Dr, Merrillville, IN 46410-3357

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7420 Whitcomb St, Merrillville, IN 46410-4111

Value Estimation by Request

5,072 sqft 0.41 AC lot

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Merrillville, IN Apartment Buildings Market Trends and Statistics

Explore 72 apartment buildings for sale in Merrillville, IN, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 20,974 square feet of properties for sale, with an estimated market value of $1,594,900.

Sale prices for two-family homes in Merrillville, IN start at $225,000, averaging $398,725, and reaching up to $520,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 39K

Population Growth (5Y) +2.0%

Median Household Income $61,735

College Educated 16.4%

High-Yield Neighborhoods for Investment

Identify Merrillville submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46410	$1.4M

Taxes & Financing

Tax Rate (average for all types) 2.32%

Property Tax per SF $33.26 per SF

Tax Rate vs County Average 0.75 pp below county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Lake County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Lake County

Retail

Property Size Breakdown

The majority of commercial real estate listings in Merrillville fall within the 100,000+ square foot range.

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Merrillville, IN Apartment Buildings for Sale

2315 Industrial Boulevard, Gary, IN 46407

1412 Connecticut St, Gary, IN 46407

1971 Massachusetts Street, Gary, IN 46407

816 Pennsylvania Street, Gary, IN 46402

7961 Harrison Pl, Merrillville, IN 46410

Opportunities in Nearby Cities

1021 West 144th Street, East Chicago, IN 46312

11 157th Street, Calumet City, IL 60409

4802 Indianapolis Blvd, East Chicago, IN 46312

11 157th Street, Calumet City, IL 60409

Potential Development Sites for Consideration

N West Bypass, Springfield, MO 65802

215 N Bear Creek Road, Asheville, NC 28806

8285 MARTINSBURG Pike, Shepherdstown, WV 25443

71 Salters Road, Greenville, SC 29607

Off-Market Properties in Merrillville, IN

1510 86th Ln, Merrillville, IN 46410-6458

702 72nd Ave, Merrillville, IN 46410-3624

5925 Jefferson St, Merrillville, IN 46410-2525

6833 Pierce Dr, Merrillville, IN 46410-3364

7025 Fillmore Dr, Merrillville, IN 46410-3361

6946 Fillmore Dr, Merrillville, IN 46410-3360

6827 Pierce Dr, Merrillville, IN 46410-3364

7011 Fillmore Dr, Merrillville, IN 46410-3361

6821 Pierce Dr, Merrillville, IN 46410-3364

7022 Fillmore Dr, Merrillville, IN 46410-3362

5611 Broadway, Merrillville, IN 46410-2634

6837 Pierce Dr, Merrillville, IN 46410-3364

7302 Noble St, Merrillville, IN 46410-7862

7012 Carolina Pl, Merrillville, IN 46410-3974

766 73rd Ave, Merrillville, IN 46410-4785

6829 Pierce Dr, Merrillville, IN 46410-3364

193 53rd Ave, Merrillville, IN 46410-1528

6871 Fillmore Dr, Merrillville, IN 46410-3357

7420 Whitcomb St, Merrillville, IN 46410-4111

Merrillville, IN Apartment Buildings Market Trends and Statistics

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Retail

Property Size Breakdown

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