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$249,900 Just Listed
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Property Description
Opportunity is knocking in the rapidly growing City of Hammond! This solid all-brick two-unit income property offers the perfect blend of investment potential, anyone seeking a multi family opportunity or long-term value, whether you're an investor looking to expand your portfolio or an owner-occupant ready to build equity while generating rental income. With separate entrances, a shared foyer, and privacy between units, this property provides flexibility for a variety of living and investment scenarios. The main level unit features 2 spacious bedrooms, a large eat-in kitchen with ample room for dining, a walk-in shower, and newer appliances. Upstairs, the second unit offers 1 bedroom, a full bath, also newer appliances and a generously sized eat-in kitchen, creating a comfortable and functional layout. An unfinished full basement provides abundant storage space and offers additional possibilities for future use. Outside, the private parking lot accommodates up to 6 vehicles, a valuable convenience for tenants and owners alike. Ideally located near major interstates with easy access to Chicago, public transportation, restaurants and shopping, this property offers easy access for commuters while remaining close to everything Hammond has to offer. Adding even more potential, the building was originally a commercial property and may offer the possibility of conversion back to commercial use. Properties with this level of flexibility, income potential, and location don't come around often. Whether you're looking to invest, occupy, or explore future opportunities, this is one you won't want to miss. Schedule your showing today and see firsthand all the possibilities this unique property has to offer!
Full Property Details
Full Property Details for 540 165th St
General
- Price: $249,900
- Taxes: $4,100 (2025)
- Status: Active
- Type: Multi-Family
- Source: GNIAR
- MLS ID: 841327
- Updated: Today (6/26/2026)
- Added to Site: Today
Interior
- Interior Features: Entrance Foyer, Soaking Tub, Laminate Counters, Eat-in Kitchen
- Appliances: Gas Range, Stainless Steel Appliance(s), Refrigerator, Gas Water Heater
Parking
- Parking Features: Additional Parking, Off Street, Gravel, Alley Access
Location
- County: Lake
- Township: North
- Subdivision: F B Halls
- Driving Directions: From E 37th Ave/E Ridge Road turn right onto Calumet Avenue. Turn left onto E 165th Street.
School Information
- High School District: Hammond
Community
- Pets Allowed: Yes
Heating & Cooling
- Heating Type: Hot Water, Natural Gas
Structural Information
- Year Built: 1941
Lot Features
- Lot Size (Acres): 0.143
- Lot Size (Sq. Ft.): 6,229
- Lot Features: Back Yard, Near Public Transit, Front Yard, Few Trees
Financial Considerations
- Tax Amount: $4,100
- Tax Year: 2025
- Terms: Cash, FHA, Conventional
Disclosures and Reports
- Legal Description: F. B. HALL'S SUB. L.21 BL.1 ALL L.22 BL.1
- Property ID: 450612202004000023
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Schools
Schools serving 540 165th St
School District:Hammond School City
| Name | Grades | Distance |
|---|---|---|
Thomas A Edison Elementary School 7025 Madison Avenue, Hammond, IN 46324 | PK-5 | 0.7 mi |
Henry W Eggers Elem/Md School 5825 Blaine Ave, Hammond, IN 46320 | 6-8 | 0.8 mi |
Hammond High School 5926 Calumet Avenue, Hammond, IN 46320 | 9-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 540 165th St
Date
Details
Price
Change
Source
6/26/2026
Listed
$249,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 540 165th St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,232
—
$126,600
1%
2024
$5,232
-10%
$125,600
3%
2023
$5,836
19%
$122,100
—
2022
$4,886
6%
$121,800
7%
2020
$4,617
40%
$114,000
33%
2019
$3,298
—
$85,600
-4%
2019
$3,298
7%
$89,400
—
2018
$3,087
-8%
$89,000
4%
2017
$3,368
—
$85,500
6%
2017
$3,368
20%
$81,000
-1%
2016
$2,813
19%
$82,200
2%
2015
$2,371
-40%
$80,700
-2%
2013
$3,960
-16%
$82,700
-17%
2012
$4,736
—
$99,800
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 540 165th St
540 165th Street, Hammond, IN 46324 (MLS# 841327) is a Multi-Family property with units containing 0 bedrooms and 0 full bathrooms. 540 165th Street is currently listed for $249,900 and was received on June 26, 2026. Want to learn more about 540 165th Street? Do you have questions about finding other Multi-Family real estate for sale in Hammond? You can browse all Hammond real estate or contact a Coldwell Banker agent to request more information.

