505 W 40th Street, Indianapolis, IN 46208

Building Details

Year built

1915

Floors in Building

2

Number of units

2

Listing agent Chris Price License #RB14030267 Show Phone

Listing office Keller Williams Indy Metro S j***@kw.com Kingston St Ste 100 8102, Avon, IN Show Phone

Listing date Apr 25, 2025

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MLS# 22032052 Listing URL

Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This historic two-story multifamily home offers old-world interior character and a layout designed for separate living quarters. The property includes enclosed, private outdoor space in the back, along with separate enclosed front porches. Off-street parking is available through a detached two-car garage. While it appears the home was previously configured as three bedrooms per side, it is currently arranged as one larger unit with an extra-large primary bedroom. The other side provides a 2-bedroom and 1.5-bath arrangement. The home also includes room in the full basement that could be finished to expand usable space.

Situated in Indianapolis, the property is described as being minutes from mid-town, Broad Ripple, interstate access, parks, and schools. The listing also notes access to surrounding neighborhood amenities and conveniences.

For buyers seeking a residential income property, this configuration may suit a range of plans, including owner-occupancy with separate living space. The presence of original woodwork, ornate brick fireplaces on each side, clawfoot tubs, and raised ceilings supports strong appeal for tenants and buyers looking for charm and character, while the ability to finish the basement adds flexibility for future use.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Indianapolis

County

Hamilton

State

Indiana

Longitude

-86.167827

Latitude

39.828121

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FAQs

What type of property is this?

Duplex - Historic two-story property with separate porches, enclosed outdoor space, and off-street parking via a detached two-car garage.

Where is this duplex located?

The property is located at 505 W 40th Street Indianapolis, IN.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 1915‑built 2‑story historic multi‑family property in the Butler‑Tarkington neighborhood; Unit mix: 3 Bed/1 Bath and 2 Bed/1.5 Bath on each side (previously configured as 3 Bedrooms per side, now one unit has an extra‑large primary bedroom); Original details include ornate brick fireplaces on each side, clawfoot tubs, and raised ceilings