506 Steele Street 1-5, Frankfort, KY 40601

$599,900
Property Type: Residential Income Bedrooms: 10 Baths: 5 Square Footage: 4,250 Lot Size (sq. ft.): 10,019 Status: Active
Current Price: $599,900 List Date: 5/21/2026 Last Modified: 5/28/2026

Overview

Description

506 Steele is a unique 5-unit multifamily property in a great Frankfort location within walking distance to the Kentucky State Capitol and downtown amenities. The property features four large 2 bedroom, 1 bathroom units with a private sun room, along with a distinctive penthouse unit. This well-built building has strong curb appeal and character that stands out from typical apartment properties. Current rents are $4,320 per month with plenty of upside to raise rents to market rates. Rent roll and financials available on Flex. Property can also be packaged together with 201-203 Campbell for investors looking to expand their portfolio with additional Frankfort multifamily units.

Listing Details MLS# 26011504

Listing Information

Comp Sale YN
No
Property Sub Type
Apartment

Status Change Information

Status Change Timestamp
2026-05-20

Address

County
Franklin
Street Number
506
Street Name
Steele
Street Suffix
Street
Unit Number
1-5
State
KY
Zip Code
40601
Directions
From Lexington, take I-64 West toward Frankfort. Take exit 58 for US-60/Versailles Road toward downtown Frankfort. Continue onto Versailles Road, then turn left onto Steele Street. Property will be on the right in South Frankfort, within walking distance to the Kentucky State Capitol.
Parcel Number
062-13-17-003.00

Contract

Original List Price
599900
Start Showing Date
2026-05-20
Listing Contract Date
2026-05-20
Listing Agreement
Exclusive Right To Sell
Office Exclusive YN
No
List Price/Acre
2608260.87
List Price/SqFt
141.15

Tax Legal

MLS Area Major
014 - Franklin County
Subdivision Name
Capital View
High School District
Franklin County - 14

Interior

Bedrooms Total
10
Bathrooms Total
5
Bathrooms Full
5
Living Area
4250
Living Area Source
Listing Agent Measured
Bathrooms Half
0

More Information

Building

Year Built
1926
Accessibility Features YN
No

Lot

Lot Size Acres
0.23
Lot Size Square Feet
10018.8

Utilities

Cooling YN
Yes
Heating YN
Yes

Remarks

Public Remarks
506 Steele is a unique 5-unit multifamily property in a great Frankfort location within walking distance to the Kentucky State Capitol and downtown amenities. The property features four large 2 bedroom, 1 bathroom units with a private sun room, along with a distinctive penthouse unit. This well-built building has strong curb appeal and character that stands out from typical apartment properties. Current rents are $4,320 per month with plenty of upside to raise rents to market rates. Rent roll and financials available on Flex. Property can also be packaged together with 201-203 Campbell for investors looking to expand their portfolio with additional Frankfort multifamily units.

Unit Details

Number Of Units Vacant
Yes

Tax & Legal

Elementary School
Second St
Middle Or Junior School
Second St Middle
High School
Franklin Co

Association/Community

Number Of Buildings
1
Number Of Units Total
5

Cooling

Central Air
Yes

Heating

Electric
Yes

Possession

Close Of Escrow
Yes

Showing Requirements

Call Listing Agent
Yes

Property Features

Cooling: Central Air Heating: Electric Possession: Close Of Escrow Showing Requirements: Call Listing Agent

Documents

Listing Office: Lifstyl Real Estate
Last Updated: May - 28 - 2026
Information deemed reliable but not guaranteed.
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