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40-42 W 56th Street, Indianapolis, IN 46208

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For Sale

$575,000

0.27 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • 0.3 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

Discover an exceptional investment opportunity with this well-maintained duplex, perfectly situated just steps away from The Shoppes at 56th & Illinois. This unique property offers a blend of residential & commercial potential, with one side of the duplex benefiting from a commercial variance, a rare find in today's market. The duplex features two bedrooms, an updated bath, a spacious living room, and a fully equipped kitchen on each side. The clean and finished basement presents an excellent value-add opportunity, featuring a half bath ready for a full bedroom conversion. One side has a wet bar as well. Both units have been thoughtfully updated with modern kitchens, including appliances, and contemporary bathrooms. Recent updates to the fireplaces (converted to ventless gas) mechanical systems, electrical, plumbing, and roofing provide peace of mind and low maintenance for future owners. A standout feature is the detached garage, offering a potential third revenue stream. This turnkey property is ideal for investors seeking a steady income stream, new investors venturing into the market, or house hackers aiming to subsidize their mortgage. Don't miss this unique opportunity to secure a prime piece of real estate with immense potential in a walkable and vibrant neighborhood. For further details and a comprehensive list of updates, please refer to the property supplements.
MLS# 22047130

Courtesy Of Compass Indiana, LLC

(317) 563-5051

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Sprinkler System
  • Architecture Style
    Cape Cod
  • Exterior Type
    Brick
  • Heating System
    Forced Air
  • Lot Size
    0.27 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement

Map and Directions

Directions to 40-42 W 56th Street, Indianapolis, IN 46208

Home seller CENTURY 21 Scheetz

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Scheetz

(317) 814-5500
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
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  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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  • HOA Dues
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 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. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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