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!
Active
Price cut: $25K (7/8)
$225,000
505 W 40th St, Indianapolis, IN 46208
6beds
3baths
--sqft
Est.:
Multi Family, Duplex
Built in 1915
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Ornate brick fire placesOriginal woodworkEnclosed front porchesClawfoot tubsRaised ceilingsExtra large primary bedroomOld world charm
- 99 days
- on Zillow |
- 672 |
- 37 |
Zillow last checked: 7 hours ago
Listing updated: July 29, 2025 at 10:43am
Listing Provided by:
Chris Price 317-225-5507,
Keller Williams Indy Metro S
Source: MIBOR as distributed by MLS GRID,MLS#: 22032052

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Main level bathrooms: 6
Features
- Has basement: Yes
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
- Details: Unit Parking(2 Car Garage)
Features
- Levels: Two
- Stories: 2
- Fencing: Fenced,Full
- Has view: Yes
- View description: City, Neighborhood, Trees/Woods
Lot
- Size: 5,227.2 Square Feet
- Features: Access, City Lot, Corner Lot, Sidewalks, Mature Trees
Details
- Parcel number: 490614152019000801
- Zoning: Multi
- Special conditions: As Is
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Duplex
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1915
Community & HOA
Community
- Subdivision: Columbia Place
Location
- Region: Indianapolis
Financial & listing details
- Annual tax amount: $2,944
- Date on market: 4/25/2025
- Road surface type: Asphalt
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