514 Wapping St Frankfort, KY 40601
About This Home
Rare opportunity to own a historic, income-producing property held by the same family for two generations. This well-maintained asset offers stunning river and downtown views from large windows on every level, along with a second-story balcony to fully enjoy the setting. The property features four thoughtfully laid-out units: First floor: one 2 bed / 2 bath unit and one 2 bed / 1 bath unit Second floor: two 1 bed / 1 bath units The third floor, once used as living space, is currently utilized for storage but offers excellent potential to be converted into a fifth unit, capitalizing on some of the best views in the building. Additional highlights include a private driveway for off-street parking and a spacious rear deck overlooking the beautiful Liberty Hall Gardens, providing a peaceful and scenic backdrop. This versatile property also presents the opportunity to be transformed into a stunning single-family residence. Lovingly cared for over decades, it offers both charm and confidence for its next owner—whether as an investment or a unique personal home.
Property Details
Home Type
- Multi-Family
Lot Details
- 0.32 Acre Lot
- Lot Dimensions are 90 x 115
Parking
- 2 Parking Spaces
Home Design
- Quadruplex
- Dimensional Roof
Interior Spaces
- 4,984 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Full Bathrooms
Schools
- Second St Elementary School
- Second St Middle School
- Frankfort High School
Utilities
- Multiple cooling system units
- Window Unit Cooling System
- Central Air
- Heating System Uses Natural Gas
Listing and Financial Details
- Assessor Parcel Number 061-24-01-023.00
Community Details
Overview
- 4 Units
- Downtown Subdivision
Building Details
- 2 Vacant Units
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $529 | $165,000 | $0 | $0 |
| 2024 | $553 | $165,000 | $0 | $0 |
| 2023 | $562 | $165,000 | $0 | $0 |
| 2022 | $1,509 | $165,000 | $0 | $0 |
| 2021 | $592 | $165,000 | $0 | $0 |
| 2020 | $509 | $145,000 | $25,000 | $120,000 |
| 2019 | $509 | $145,000 | $25,000 | $120,000 |
| 2018 | $528 | $145,000 | $25,000 | $120,000 |
| 2017 | $1,182 | $145,000 | $25,000 | $120,000 |
| 2016 | $504 | $145,000 | $25,000 | $120,000 |
| 2015 | $1,979 | $145,000 | $25,000 | $120,000 |
| 2011 | $1,979 | $145,000 | $25,000 | $120,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/20/2026 03/20/26 | For Sale | $497,000 | -- | $100 / Sq Ft |
Source: ImagineMLS (Bluegrass REALTORS®)
MLS Number: 26005492
APN: 061-24-01-023.00
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