514 Wapping St Frankfort, KY 40601
Frankfort AreaEstimated payment $2,644/month
Highlights
- Popular Property
- No HOA
- Porch
- Deck
- Balcony
- Patio
About This Home
00% 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.
Property Details
Home Type
- Multi-Family
Lot Details
- Lot Dimensions are 90x115
Home Design
- 4,984 Sq Ft Home
- Quadruplex
- Flat Roof Shape
- Wood Frame Construction
- Shingle Roof
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Bathrooms
Outdoor Features
- Balcony
- Deck
- Patio
- Porch
Utilities
- Ductless Heating Or Cooling System
- Central Air
- Heating System Uses Natural Gas
Additional Features
- Basement
Community Details
- No Home Owners Association
- Downtown Subdivision
Listing and Financial Details
- The owner pays for electricity, sewer, water
- Assessor Parcel Number 061-24-01-023.00
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $25,000 | $140,000 |
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/10/2026 09/10/26 | For Sale | $469,000 | -- | $94 / Sq Ft |
Source: Metro Search, Inc.
MLS Number: 1728750
APN: 061-24-01-023.00
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IDX listing data provided by Multiple Listing Service, Inc. Information is supplied by the seller and other third parties and has not been verified.
Based on information submitted to the MLS GRID
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