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$195,000
6
beds
2
baths

505 W 40th Street
Indianapolis, Indiana 46208

Active / MLS #22032052 / Multiple Unit (2-4) / Butler-Tarkington
Listing information updated 11/21/2025 at 9:06am
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!
Beds Above Grade:
6
Pool:
No
Age:
110 Years
Parking Spaces:
2
Garage:
Garage - 2 Car(s)
Water Front:
No
Square Feet:
N/A
Lot Size:
0.12 Acres
Acreage:
0.12
Tax Amount:
N/A
Tax Year:
2024
Zip Code:
46208
City:
Indianapolis
County:
Marion
School District(s):
Indianapolis Public Schools
Elementary School:
James Whitcomb Riley School 43
Middle School:
James Whitcomb Riley School 43
High School:
George Washington High School

Listing Office: Keller Williams Indy Metro S

Listing Office Phone: 317.271.5959

Disclaimer: The data relating to real estate for sale on this website comes courtesy of MIBOR REALTOR® Association as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 11/21/2025 at 9:06am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Butler-Tarkington

Butler-Tarkington, IN

Butler-Tarkington is known for its numerous green spaces, local eateries and shops, and Butler University. The private university has over 60 major academic fields of study across six colleges. The community is also home to the five-mile Central Canal Towpath and Tarkington Park, which features tenn...
$400,968
Average Sale Price
55
Average Days On The Market
95%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 505 W 40th Street, Indianapolis, IN 46208

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505 W 40th Street, Indianapolis, IN 46208 is a multiple unit (2-4) currently listed at $195,000. 505 W 40th Street features 6 Beds, 2 Baths. This multiple unit (2-4) has been listed on @properties IND since April 25th, 2025 and was built in 1915. Nearby schools include James Whitcomb Riley School 43 and George Washington High School.