514 Wapping Street, Frankfort, KY 40601
$479,000
Property Type:
Residential Income
Bedrooms:
7
Baths:
5
Square Footage:
4,984
Lot Size (sq. ft.):
13,950
Status:
Active
Current Price:
$479,000
List Date:
6/12/2026
Last Modified:
7/27/2026
Listing Details MLS# 26005492
Listing Information
- Comp Sale YN
- No
- Property Sub Type
- Quadruplex
Status Change Information
- Price Change Timestamp
- 2026-07-06T13:28:54Z
- Status Change Timestamp
- 2026-06-12
- Back on Market Date
- 2026-06-12
Address
- County
- Franklin
- Street Number
- 514
- Street Name
- Wapping
- Street Suffix
- Street
- State
- KY
- Zip Code
- 40601
- Directions
- Sits on the dead end side of wapping
- Parcel Number
- 061-24-01-023.00
Contract
- Original List Price
- 497000
- Start Showing Date
- 2026-03-20
- Listing Contract Date
- 2026-03-20
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/Acre
- 1495940.04
- List Price/SqFt
- 96.11
Tax Legal
- MLS Area Major
- 014 - Franklin County
- Subdivision Name
- Downtown
- High School District
- Frankfort Independent
Interior
- Bedrooms Total
- 7
- Bathrooms Total
- 5
- Bathrooms Full
- 5
- Living Area
- 4984
- Living Area Source
- Appraiser
- Bathrooms Half
- 0
More Information
Parking Information
- Parking Total
- 2
Building
- Year Built
- 9999
- Stories Total
- 3
- Accessibility Features YN
- No
Lot
- Lot Size Acres
- 0.3202
- Lot Size Square Feet
- 13950
- Lot Size Dimensions
- 90 x 115
Utilities
- Cooling YN
- Yes
- Heating YN
- Yes
Remarks
- Public Remarks
- 100% Occupied! Excellent opportunity to acquire a fully leased four-unit investment property in one of Historic Downtown Frankfort's most desirable neighborhoods. This exceptionally maintained property leased all four apartments at market rents in just four days, demonstrating the strong demand for quality rental housing in this location. Owned by the same family for three generations, the building has benefited from numerous recent capital improvements, including a newer roof, professional exterior painting, updated electrical service, and new water heaters. This is a stable, turnkey investment with no known deferred maintenance. Current gross rental income is $4,810 per month ($57,720 annually). Owner pays approximately $500 per month for water, electric, sewer, and trash. Tenants pay their own natural gas heating. Unit Mix: 2 Bedroom / 2 Bath - $1,630/month (tenant also mows the lawn, performs landscaping, and takes trash to the curb) 2 Bedroom / 1 Bath - $1,230/month 2 Bedroom / 1 Bath - $1,200/month 1 Bedroom / 1 Bath - $750/month (long-term tenant of approximately 20 years) Properties of this quality and location rarely become available. With strong cash flow, historic character, off-street parking, and scenic Kentucky River views from every unit, 514 Wapping Street presents a compelling investment opportunity in the heart of Frankfort.
Building and Property Details
- Lot Expansion Potential YN
- No
- Age of Roof
- 3
Unit Details
- Number Of Units Vacant
- 2
Showing Information
- Showing Instructions
- Sentri box on front door with keys to bottom two units, A and C
Tax & Legal
- Elementary School
- Second St
- Middle Or Junior School
- Second St Middle
- High School
- Frankfort
- Tax Rate
- 1.68
Association/Community
- Number Of Buildings
- 1
- Number Of Units In Community
- 4
- Number Of Units Total
- 4
Cooling
- Central Air
- Yes
- Electric
- Yes
- Multi Units
- Yes
- Window Unit(s)
- Yes
Heating
- Electric
- Yes
- Natural Gas
- Yes
Parking Features
- On Site
- Yes
Possession
- Negotiable
- Yes
Roof
- Dimensional Style
- Yes
Structure Type
- Quadruplex
- Yes
Showing Requirements
- Showing Service
- Yes
Property Features
Cooling:
Central Air; Electric; Multi Units; Window Unit(s)
Heating:
Electric; Natural Gas
Parking Features:
On Site
Possession:
Negotiable
Roof:
Dimensional Style
Structure Type:
Quadruplex
Showing Requirements:
Showing Service
Sellers Disclosure Of Property Condition ›
Listing Office:
Marshall Lane Real Estate
Last Updated: July - 27 - 2026
Information deemed reliable but not guaranteed.