# 505 W 40th Street, Indianapolis, IN 46208

> **TL;DR:** multi-family, $195,000, built 1915.
> View, Basement. Est. $845/mo. Listed 350 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $195,000 |
| Year Built | 1915 |
| Lot Size | 5,227 sqft (0.12 acres) |
| Property Type | Multi-Family (Duplex) |
| Status | For Sale |
| Days on Market | 350 |

## Why This Home Stands Out

- **Views** - City

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $845 |
| **Total** | **$845** |

## Nearby Schools

- **Elementary:** James Whitcomb Riley School 43
- **Middle:** James Whitcomb Riley School 43
- **High:** George Washington High School

## Key Amenities

- View
- Basement

## Property Highlights

- Built in 1915
- 0.12 acre lot

## Description

### Agent Description
Incredibly rare, 2-story historic multi-family property in Butler-Tarkington neighborhood. Minutes from mid-town, Broad Ripple, interstate access, parks, schools, and much more! Enclosed, private back yard and separate enclosed front porches.  2-car detached garage for off-street parking.  Appears to have been previously been 3 Bedrooms per side, but now converted to one unit having an extra large Primary Bedroom. 3 Bedroom/1 Bathroom and 2 Bedroom/1.5 Bathrooms on each side. Ability to finish off full basement space.  Original woodwork, ornate brick fire places on each side, clawfoot tubs, raised ceilings and tons of Old World charm.  Could be a great house hack to live in one side and pay the mortgage on the other; or an amazing long-term buy and hold.  This is a must see!

## Location

- **Address:** 505 W 40th Street, Indianapolis, IN 46208
- **County:** Marion
- **Neighborhood:** Columbia Place
- **Coordinates:** 39.828121, -86.167827
- **Google Maps:** https://www.google.com/maps?q=39.828121,-86.167827

## Listing Agent

- **Name:** Chris Price
- **Brokerage:** Keller Williams Indy Metro S
- **Phone:** 3172255507
- **Email:** chris@kwtips.com

## Primary Photo

![505 W 40th Street - Primary Photo](http://lh.rdcpix.com/42397a6b626f12a678189af2de411588l-f2404587242r.jpg)

*46 total photos available on [listing page](https://www.propertysimple.com/listing/505-w-40th-street-indianapolis-in-46208-22032052)*

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**MLS#:** 22032052 | **Updated:** 2026-04-27
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/505-w-40th-street-indianapolis-in-46208-22032052)

---

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